Somchai PoomlardLoan-to-value (LTV) limits may be deemed unnecessary if the law to regulate valuation practices is enacted, say property valuers. "The rules are derived from a valuation of the property price that exceeds its fair market value." "If the new law is enacted, no one would dare price a property higher than its value," Mr Kitti said. He said the property valuation law will also help reduce the valuation workload for local authorities, as there will be independent valuers helping them appraise properties if the Land and Building Tax Act is applied next year. "Among the eight countries, Thailand is the only one without valuation laws," Mr Kitti said.

Source: Bangkok Post October 02, 2019 23:35 UTC