Govt To Lift Real Estate Measures

Govt to lift real estate measures

BANGKOK (NNT) -– The government is set to cancel measures to stimulate the property sector. Land offices across the country have been told to operate even on public holidays until 28 March to facilitate the registrations and transfers of real estates.

Finance Minister Korn Chatikavanij stated that it was the right time to revoke the measures following their effectiveness in boosting the real estate sector throughout a one-year implementation.

As for other stimulus measures, the minister said the government would decide whether to extend them according to appropriateness.

The land offices will extend their operations since a number of people are expected to show up to for property transfers and mortgages before the measures expire on 28 March 2010.

Such measures reduce a property rights transfer fee, mortgage registration fee, and special business to only 0.01%.

-- NNT 2010-03-11

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