BANGKOK, 28 October 2015 (NNT) – The Ministry of Interior has imposed a reduction of the fee on real estate transactions in compliance with the Cabinet resolution to provide support for home buyers.

Interior Minister Gen Anupong Paochinda stated that the Cabinet earlier agreed to a set of proposed measures aimed to stimulate the real estate business and increase the purchasing power of home buyers who earn low income.

Therefore, the Ministry’s Department of Lands has resolved to adjust the fee collected on property transfers, sales and mortgages from 2 percent down to only 0.01 percent. The reduced fee applies to houses, lands and condominium units and is effective from October 29th to April 28th next year.

According to Gen Anupong, the measure is expected to boost trading in the real estate sector and uplift the quality of life of the people. He also affirmed the Interior Ministry is placing great importance on land management and will consider amending related laws in a bid to restore investor confidence.

National News Bureau Of Thailand | Interior Min cuts real estate transaction fee to 0.01%