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Posted: 24 Mar 2010 | 10:40 am
In an unexpected move the Thai Government has extended its property tax incentive scheme for two months. The economic measures were set to expire on March 28, and had triggered a flood of transactions in the real estate market. Developers have reacted favorably to the news which is expected to spur sales volume primarily in the domestic sector.
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Speaking to a lawyer today its only the transfer fee which will not go up. All other taxes will return to their previous levels. Hope im wrong!
Bill Barnett responds:
For the story the transfer tax was the key which is the most important element on the savings so thats should hopefully continue to spur new transactions. Thanks for heads up.