The property stimulus package has also reduced the transfer fee for property transactions from 2% to 0.01%. This is a large transfer fees reduction and is likely to have the most impact compared to the other measures. This is significant as this will benefit both the property developer and property buyer alike as this cost is often shared between parties. This reduction will also boost the property sector as buyers will be keen on buying in order to take advantage of this.
Update: The property stimulus package has now been ended by the Thai government as they do not see any danger to the property market. The property transfer rates added to mainly local buying in Thailand and this is what the Thai government wanted. This has now come to and end a few months ago. Since then the property market in Bangkok has been seen as stable and the Thai government clearly read the market correctly.
This year being 2013 we now see that there have been more sales in the lower end of the property sector in Bangkok and the prices for property and apartments near to mass transport has seen another increase in value. The ‘Sky Train” has now been completed to the airport and with this has come the increase in prices and rentals in the area close to the train system. If you are looking at buying a retirement home in Thailand then this year would be good as the market is stable and there bargains to be found as rentals far from the mass transit system has come down slightly as well as the sale prices on these units.
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