Bangkok: Extended for another year! Transfer and mortgage registration fees reduced to 0.01% for houses and condos priced under 7 million baht. "Pholpeer" signed an announcement extending the measure to reduce transfer fees for new and resale houses and condominiums with a purchase price and loan amount not exceeding 7 million baht, exclusively for Thai citizens, from 2% to 0.01%, and mortgage registration fees from 1% to 0.01% for another year, until June 30, 2027.
According to Thai News Agency, Mr. Polpeera Suwannachawi, Deputy Minister of Interior and Acting Minister of Interior, revealed that he has signed two announcements from the Ministry of Interior: one regarding the collection of registration fees for rights and legal transactions under the Land Code for residential or commercial buildings, or land with residential or commercial buildings, according to criteria set by the Cabinet; and another regarding the collection of registration fees for rights and legal transactions under the Condominium Act for condominium units, according to criteria set by the Cabinet. These announcements have been published in the Royal Gazette and will be effective until June 30, 2027.
The two aforementioned announcements essentially reduce the property transfer registration fee from 2% to 0.01% and the property mortgage registration fee from 1% to 0.01%. This is due to the simultaneous transfer of ownership of the property, provided the purchase price and assessed value do not exceed 7 million baht, and the mortgage amount does not exceed 7 million baht. However, this applies only to Thai citizens who are buyers of real estate.