Thai Real Estate Associations Propose Four-Point Stimulus Plan
Three major Thai real estate associations have submitted a four-point proposal to the Ministry of Finance, seeking to extend property stimulus measures and reform land lease regulations.
According to a report by Prachachat Business, three prominent Thai real estate associations have formally presented a four-point proposal to Ekniti Nitithanprapas, Permanent Secretary of the Ministry of Finance. The initiative aims to sustain momentum in the property market and alleviate financial burdens on homebuyers.
The core proposals include extending existing stimulus measures to boost purchasing power, expanding the 'Baan Khon La Lang Plus' (One House Per Person Plus) program to include commercial banks, and increasing the green loan interest rate to 1% to align with the Thailand Taxonomy policy. Additionally, the associations are advocating for a 200,000-baht tax deduction on mortgage interest payments.
Beyond financial incentives, the group has urged the Department of Lands to revise current regulations concerning land lease laws and housing size requirements. For residents and potential investors, these proposals represent a significant effort to make home ownership more accessible and environmentally sustainable. However, these measures are currently in the proposal stage. It remains to be confirmed which, if any, of these recommendations will be adopted by the government or integrated into future fiscal policy. Stakeholders are advised to monitor official announcements from the Ministry of Finance for updates on potential legislative changes.
