Thailand cuts property registration and mortgage tax by 2023 for local buyers

September 2023, Thailand - The Thai government has announced a reduction in government fees for the registration of sales and mortgages of certain types of real estate or condominium apartments in 2023.

The reduction was described in two notifications issued by the Ministry of Home Affairs on December 26, 2022 and published in the Government Gazette on January 3, 2023. These two notifications, valid until December 31, 2023, are part of the government's efforts to strengthen the real estate sector and encourage property ownership.

They set government fees for registration of sale and mortgage of real estate or condominium apartments as follows:

• Sale of real estate or condominium apartment: 1% of the officially assessed value (reduced from 2%)
• Mortgage of real estate or condominium apartment: 0.01% of the mortgage amount (reduced from 1%)

The above reduced rates apply only to the sale and mortgage of independent houses, half houses, townhouses, commercial buildings and land surrounding these buildings, and condominium apartments to Thai citizens.

The sale price of the property, the officially appraised value and the mortgage amount must not exceed 3 million baht (approximately US$90,000).

The sale price of the property, officially appraised value and mortgage amount must not exceed 3 million baht (approximately US$90,000).

To qualify for the reduced mortgage registration rate, the sale and mortgage must be registered at the same time.

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