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Property Market Could Tumble If Tax Incentives Not Extended

Category: Real estate, Posted:08 Dec 2009 | 01:48 am

One of the contributing factors to the renewed performance in Thailand's broader property market has been the current tax incentives put in place to spur growth. The Government's current reduction of Specific Business Tax (SPT) which came down from 3.3% to 0.11% and transfer tax down to 0.01% from the previous 2.0% are set to expire on March 28 of next year. An allowance for property sales also saw higher thresholds from THB 100,000 up to 200,000.
At the same time development and commodity prices have continued to rise with the market hence there may be a double blow to buyers who will ultimately have to shoulder the tax burden passed on by developers and also price increases as costs go upward. It's expected that transaction activity in the lead up to the tax expiration date will continue to trade at high levels.

Other News

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Direct International Flight For Koh Samui Coming

Category: Tourism, Posted:27 Jul 2021 | 11:29 am Koh Samui is set for the resumption of international flights from Singapore on the 1st of August. Under the Samui Plus program and expecting increased demand, Bangkok Airways is taking this first step for the direct overseas service. The initial stage is three flights a week on Monday, Thursday and Sunday. Meanwhile in the Phuket […]
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Thailand Property Takes Urban Flight As Lifestyle Takes Over

Category: Real estate, Posted:26 Jul 2021 | 06:00 am Thailand’s resort real estate markets have experienced a dramatic reset in buyer profiles over the past eighteen months of the pandemic. A strong wave of domestic demand has seen Thais flocking to the country’s leisure destinations and snapping up holiday or second homes. According to new data released by Thai property portal FazWaz, the popular […]
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Just Another Sunday – Catch-Up

Category: Tourism, Posted:25 Jul 2021 | 15:08 pm It’s a great day to catch up on last week’s video sessions. Check out a replay of the special Business Insider Thailand Resort Property online event.  We also talk to a leading Thai developer on rewriting the map in Northwest Phuket, where a second resort-styled CBD is emerging and finally more on the ongoing Sandbox. […]