Developers say their existing plan to jump-start the housing market has finally sunk in with the latest economic team.
As the government weighs measures to revive the property sector, industry consultants and experts are urging incentives that would help homebuyers with affordability, lower their financial burden and give them enough time to prepare for an ownership transfer.
In several meetings with the government's previous economic teams, real estate groups and big developers had proposed measures to boost the housing sector, which has felt the pinch of the ailing economy.
Proposals at the time included a reduction in transfer and mortgage fees from 2% and 1% to 0.02% and 0.01% respectively (for houses priced at 2 million baht or less), plus soft loans and a lower special business tax.
Those proposals fell on deaf ears until the new team led by Somkid Jatusripitak was appointed in August.
Finance Minister Apisak Tantivorawong, a member of the team, said last week measures to spur the property sector would be concluded soon.
Developers say their existing plan to jump-start the housing market has finally sunk in with the latest economic team. As the government weighs measures to revive the property sector, industry consultants and experts are urging incentives that would help homebuyers with affordability, lower their financial burden and give them enough time to prepare for an ownership transfer. In several meetings with the government's previous economic teams, real estate groups and big developers had proposed measures to boost the housing sector, which has felt the pinch of the ailing economy. Proposals at the time included a reduction in transfer and mortgage fees from 2% and 1% to 0.02% and 0.01% respectively (for houses priced at 2 million baht or less), plus soft loans and a lower special business tax. Those proposals fell on deaf ears until the new team led by Somkid Jatusripitak was appointed in August. Finance Minister Apisak Tantivorawong, a member of the team, said last week measures to spur the property sector would be concluded soon.
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