Cabinet slashes property transfer fee to 0.01%

The Cabinet has resolved to cut the property ownership transfer fee from 2% to 0.01% for detached houses, semi-detached houses, terraced houses or townhouses, and condominium units priced at no more than seven million baht each.

Finance Ministry spokesman Pornchai Thiraveja stated recently that the Cabinet has also agreed to reduce the mortgage registration fee from 1% to 0.01% for consumers applying for mortgage loans from commercial banks to purchase any of the aforementioned types of property, with each loan not exceeding seven million baht.

Pornchai, who is also Director-General of the Ministry’s Fiscal Policy Office (FPO), said that both incentives will take effect from the date of publication in the Royal Gazette and will remain valid until June 30, 2026.

According to the spokesman, the twin measures aim to help consumers acquire their own homes and to stimulate the domestic economy through the property sector and related employment.

In addition, the measures align with the Bank of Thailand’s policy of easing housing loan regulations to spur consumer demand while reducing the current oversupply of completed housing units.