The Thai Cabinet has officially extended a measure reducing property transfer and mortgage registration fees to just 0.01% for another year.
According to reports from Nation Thailand and Khaosod, the Cabinet approved the extension to act as a "lifeline for homebuyers" and to help relieve the financial burden on the public.
For expats and foreign investors acquiring residential property, this extension keeps the upfront closing costs significantly lower than standard rates.
Impact on Expat Buyers
If you are currently shopping for property in Thailand, this announcement gives you a one-year window to finalize your purchase under the heavily reduced fee structure.
Here is exactly what the Cabinet extension covers:
- Property transfer fees: Kept at 0.01%.
- Mortgage registration fees: Kept at 0.01% for those financing their purchase.
- Timeline: The discounted rates will remain in place for one additional year. While the specific start and end dates were not detailed in the initial press reports, the extension provides a 12-month runway.
The 0.01% transfer fee represents substantial savings at the local land office. If you were rushing to close a property deal before previous stimulus measures expired, you now have a comfortable amount of breathing room.
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