Fee cuts for B7m range lift home demand

Measure helped to stimulate market

- ΚΑΝΑΝΑ ΚATHARANGSIPORN

The reduction in transfer and mortgage fees for units priced 7 million baht or less, which expired last year, lifted home demand in Bangkok within this price range, according to a recent survey.

Siddhipen Siddharthapong, acting assistant director-general of the Real Estate Information Center (REIC), said the measure was quite effective in stimulating housing demand.

"Homebuyer sentiment in the fourth quarter last year was relatively weak, with new condo sales in Bangkok dropping by 25% and new low-rise sales by 31%, resulting in an overall decline of 27%," she said.

"However, as the measure was set to expire at the end of the year, purchasers of residential units priced 7 million baht or less rushed to complete transfers before the deadline."