![](\"http:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/01\/bangkok-government-property-stimulus-800x410.jpg?fit=800%2C410\")
\nFirst-time buyers are the main beneficiaries of the kickstarter\u00a0package<\/p>\n
\nFirst-time buyers are the main beneficiaries of the kickstarter\u00a0package<\/p>\n
In a bid to revive\u00a0Thailand\u2019s waning real estate sector, Finance Minister\u00a0Sommai Phasee\u00a0recently approved a stimulus package aimed for to\u00a0increase the pace of property transfer in the country, the\u00a0Bangkok Post\u00a0recently reported.
\nThese measures should be particularly helpful to first-time buyers and low-income households.
\nWhat will they get from it? There are three things to remember:<\/p>\n
First-time buyers will be eligible to deduct 20 percent of their new home\u2019s value from their annual personal income tax for five years (providing the home is worth THB3 million (USD84,000) or less and is bought by the end of 2016)
\nThe state-owned GH Bank are now permitted to offer\u00a0mortgages at\u00a050 percent of applicants\u2019 salaries, up from 30 percent. This is part of a THB10 billion (USD280\u00a0million) scheme
\nBoth housing transfer and mortgage fees will be cut to 0.01 percent from 2 and 1 percent, respectively. These cuts will be in place and are only applicable on homes priced below THB3 million<\/p>\n
More: Expat living in Bangkok: condos vs apartments
First-time buyers are the main beneficiaries of the kickstarter\u00a0package In a bid to revive\u00a0Thailand\u2019s waning...<\/p>\n","protected":false},"author":1,"featured_media":670,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-669","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/01\/bangkok-government-property-stimulus-800x410.jpg?fit=800%2C410&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-aN","jetpack-related-posts":[{"id":2069,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hotel-branded-residences-gain-momentum-in-thailand\/","url_meta":{"origin":669,"position":0},"title":"Hotel-branded residences gain momentum in Thailand","date":"January 20, 2016","format":false,"excerpt":"\r Phuket, Bangkok and Pattaya top the list X2 Vibe Pattaya Seaphere There\u2019s no stopping the hotel residences real estate segment in Thailand, which leads the Southeast Asian marketplace with 37 percent of all projects under the category, according to the latest data from consultancy firm C9 Hotelworks. While some\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/01\/X2-Vibe-Pattaya-Seaphere.png?fit=777%2C520&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":11332,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/did-the-thai-property-stimulus-package-work-new-findings-revealed\/","url_meta":{"origin":669,"position":1},"title":"Did the Thai property stimulus package work? New findings revealed","date":"April 25, 2016","format":false,"excerpt":"\r Q1 2016 launches and pre-sales totals in Thailand are not stellar Image credit: Bangkok.com Research from RHB Thailand noted that investors continue to have concerns about a slowdown in demand as well as potential oversupply problems in Thailand\u2019s property market. There is also a general feeling from certain investors\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":148528,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/thailands-property-boom-attracts-chinese-investors-but-fraud-risks-loom\/","url_meta":{"origin":669,"position":2},"title":"Thailand\u2019s property boom attracts Chinese investors, but fraud risks loom","date":"December 19, 2024","format":false,"excerpt":"\r Foreign buyers face legal hurdles and scams, risking significant financial losses, according to Thai law firm.\r \r Source : South China Morning Post\r Read more...Thailand\u2019s property boom attracts Chinese investors, but fraud risks loom","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":147252,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/china-property-shanghai-and-shenzhen-luxury-home-sales-soar-after-stimulus-package\/","url_meta":{"origin":669,"position":3},"title":"China property: Shanghai and Shenzhen luxury home sales soar after stimulus package","date":"October 1, 2024","format":false,"excerpt":"\r Wealthy buyers snap up homes in prime locations amid renewed optimism driven by relaxed purchase restrictions and lower mortgage rates.\r \r Source : South China Morning Post\r Read more...China property: Shanghai and Shenzhen luxury home sales soar after stimulus package","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":172036,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/thai-property-crackdown-foreign-buyers-hit-pause-on-villas-as-nominee-loophole-closes\/","url_meta":{"origin":669,"position":4},"title":"Thai property crackdown: Foreign buyers hit pause on villas as nominee loophole closes","date":"June 21, 2026","format":false,"excerpt":"\r Thailand\u2019s crackdown on a loophole that effectively bypasses its restrictions on land ownership by foreigners is causing prospective buyers to delay purchase decisions on luxury villas in resort destinations such as Phuket and Koh Samui, according to agents. Bangkok has stepped up its scrutiny of business and property ownership\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":69252,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/thai-developer-expects-brisk-home-sales-to-mainland-buyers\/","url_meta":{"origin":669,"position":5},"title":"Thai developer expects brisk home sales to mainland buyers","date":"October 17, 2017","format":false,"excerpt":"\r Sansiri, one of Thailand\u2019s top property developers, said it expected to be kept busy by Chinese investors looking to diversify their assets by buying Thai properties for both personal use and investment. The company forecasts that home purchases by the mainland citizens would account for 40 per cent of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/669"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=669"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/669\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/670"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n\u201cThough the proposed measures are unlikely to boost new demand in the residential market, it should help incentivise homebuyers to accelerate the home transfer process,\u201d\u00a0commented Suphin Mechuchep, managing director of JLL Thailand.
\n\u201cThe policies represent a safe step towards helping the residential sector. Increased transfer activity should build developers\u2019 financial strength, enabling new investment and helping Thai\u00a0growth,\u201d she concluded.
\nOne developer going full steam ahead with investment and enabling the growth of the Thai residential sector is Sansiri and their joint venture with BTS Group, BTS-Sansiri Holding, which recently announced the launch of 10 residential projects in Bangkok in Q4 2015, according to\u00a0Deal Street Asia.
\nMore: What are the best locations for property investment in Bangkok?
\nThe newly announced\u00a0projects\u00a0are part of BTS-Sansiri\u2019s plans to develop multiple residential projects on land plots along the routes of the capital\u2019s BTS service between now and 2019.\u00a0The initial ten projects will be worth a total of THB21.5 billion (USD598 million) and will comprise five condominium and five detached housing projects.
\nIt was hoped these new projects would help the Sansiri group\u00a0reach their target of THB33 billion (USD930 million) in pre-sales\u00a0in 2015\u00a0\u2013 they had made THB20.5 billion (USD580 million) in the first three quarters alo.
\nThe total value of BTS-Sansiri ventures\u00a0is thought to reach somewhere around THB100 billion (USD2.8 billion).
\n\u00a0
\nImage is by\u00a0Eustaquio Santimano\u00a0and is used under a Creative Commons licence
\n
\nSource : property-report.com
\nRead more…3 things to remember from Thailand\u2019s property stimulus proposal<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"