Thai Tax Incentive Boosts Inland Island Properties
News that the Thai cabinet has approved a tax deduction up to THB500,000 for first-time homeowners is expected to ramp up domestic demand.
Under the government sponsored program new properties up to THB5 million will be eligible with a sliding income tax deduction capped at 20% of the property over five years.
Additionally a tax deduction on home mortgage payments will apply up to ten percent.
The program is expected to roll out shortly and have an initial term of one year.
Thai listed developers have been scooping up inland Phuket land parcels this year.
Expect the domestic property sector to be the short to medium term property play in coming year.