Bangkok: Private sector asks ‘Pichai’ to reduce transfer fees for houses not exceeding 7 million baht, hoping the BOT will relax LTV measures for buying a second or third home to stimulate real estate. Mr. Prasert Taedulyasatit, President of the Thai Condominium Association, said that the three real estate associations, namely the Housing Business Association, the Thai Real Estate Association, and the Thai Condominium Association, met and discussed with Mr. Pichai Chunhavajira, Deputy Prime Minister and Minister of Finance, after submitting a letter requesting the government to issue real estate stimulus measures in time for the Home and Condo Expo, which is scheduled to be held from March 20-23.
According to Thai News Agency, Mr. Prasert admitted that the Deputy Prime Minister and Minister of Finance accepted the proposal from the real estate sector to study and consider measures to reduce transfer fees and mortgages for the purchase of both horizontal and vertical residences, houses priced no more than 7 million baht, after the measure expired in late 2024, which led to a large number of outstanding property transfers. The real estate sector has also followed up and asked the Bank of Thailand to expedite consideration of relaxing the LTV measure for second and third home loan contracts to help stimulate new lending, especially among potential customers with middle- to upper-income incomes, in order to stimulate the real estate industry to be complete, resulting in positive economic growth and employment and many related industries.
