The government should extend its property tax incentives to next year to drive housing market growth in 2022, in line with the projected economic recovery, the Bank of Thailand suggested. "The government's incentives can stimulate [the property market growth] a lot," he said. At present, the property incentives include a cut of transfer and mortgage fees from 2% and 1% to 0.01%, respectively, for units priced 3 million baht or less. As well as an extension to the effective period, the incentives may include the first 3 million baht for every unit price as those who can buy a house priced 10 million baht or more get less of an impact than those eyeing units priced 3 million baht or less. He said one positive impact from the reopening towards the property market is that there is a higher chance that foreigners will buy a property in Thailand.

Source: Bangkok Post December 08, 2021 04:12 UTC