The Royal Gazette announces two ministerial regulations reducing housing transfer-mortgage fees, stimulating the real estate sector in 2024, encouraging people to own their own homes. Effective until 31 Dec.

The Royal Gazette website has announced two ministerial regulations related to setting fees for registering rights and doing legal acts. For the case of transfers and mortgages arising from real estate transactions The aim is to help reduce the burden on people who want to have their own home or residence in 2023.

Housing types that are considered include detached houses, semi-detached houses, row houses, commercial buildings, land with buildings. Including condominium buildings or condominiums. with a purchase price and appraised value not exceeding three million baht and the mortgage amount does not exceed three million baht, with Mr. Anutin Charnvirakul, Minister of Interior, as the signatory.

The reason for issuing this ministerial regulation is to support the government policy that wants people to have their own homes. and to strengthen the real estate business Therefore, fees for registration of rights and juristic acts are specified in special cases for such real estate.

The essence of this ministerial regulation is to extend the measure to reduce fees for registering rights and legal acts for residences in 2024 to help reduce the burden on the people. Promote real estate trading and create economic stability as well as helping to help maintain economic activity in the real estate sector

Details of the fee reduction include reducing the real estate transfer registration fee from 2% to 1% and reducing the real estate mortgage registration fee from 1% to just 0.01% in the case of transfer and mortgage at the same time. Effective retroactively from 2 January until 31 December 2024.

This announcement comes after the government of Mr. Settha Thavisin passed a cabinet resolution on December 26, 2023, to extend the real estate sector stimulus measures for another year. which is effective until December 31, 2024

Summary of the main points of the fee reduction include the transfer fee that will be reduced from 2% to 1% or the cost of transferring real estate per million baht from 20,000 baht to only 10,000 baht, while the mortgage registration fee will be reduced from 1% to 0.01. % or cost per million baht from 10,000 baht to only 100 baht, effective to help reduce the cost burden for people who want to buy or mortgage real estate during that period.

Source:https://www.thansettakij.com/real-estate/585070

at 5/1/2024

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