Tax measures to help restore homebuyer confidence

BANGKOK: -- The government’s tax measures aimed at simulate the property business will manage to restore confidence among potential homebuyers, according to industry executives.

Presiding over the opening of the 16th Houses and Condominiums Fair held during May 17-20 at Queen Sirikit National Convention Center, Kitti Pipatpongpibul, president of the Housing Mortgage Association, said the tax measures being issued by the Finance Ministry would help boost purchasing power of people in the property business.

This, coupled with the downward interest trend, could stimulate the overall property business. But it had to take sometime or 1-1.5 years to do that, he said.

Athip Peechanont, president of the Thai Condominium Association, said the tax measures would help encourage potential homebuyers to purchase houses. It would boost their purchasing power.

At the same time, manufacturers and distributors of various products would also benefit from the tax measures, particularly a tax cut by 3.7 per cent for installment payment and a reduction in ownership transfer and mortgaging fees.

With the tax measures, he believed, the property business would grow 20 per cent in the second quarter of this year or in the following quarter.

--TNA 2007-05-18

if these guys told you the sun was shinning , I'd suggest you went outside and checked ..............................

All flowery words and no details.

if these guys told you the sun was shinning , I'd suggest you went outside and checked ..............................

I'd put on wellingtons first.....

All I can say is "Hello, Kitti!"

"This, coupled with the downward interest trend, could stimulate the overall property business. But it had to take sometime or 1-1.5 years to do that, he said."

And by that time the property market will be toast. Condo in Pattaya anyone?

I don't think it affects farang