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Thai government announces real estate policy: A new driving force for economic growth
四月 18, 2024
Thai government announces real estate policy: A new driving force for economic growth 曼谷
By   Internet
  • 都市报
  • Thailand Property
  • Real Estate Policy
  • Mortgage fees
  • Foreign land Lease Policy
Abstract: The implementation of these policy measures has contributed to increased activity in the Thai real estate market and sustained economic growth. By lowering barriers to homeownership, optimizing housing financing conditions, and regulating market order, the government has not only stimulated the development of the real estate industry but also injected new vitality into the healthy growth of the national economy.

Recently, the Thai government has introduced a series of policy measures aimed at stimulating the real estate market and promoting economic growth. These policies mainly include reducing transfer fees and mortgage costs, setting limits on purchase and appraisal prices, launching low-interest housing loan programs, and considering relaxing policies on land leasing for foreigners. The introduction of these policies aims to lower the barrier to homeownership, stimulate housing demand, boost construction industry development, and thus drive overall economic growth.


Firstly, the government has emphasized the reduction of transfer fees and mortgage costs to alleviate the burden on homebuyers. This measure directly reduces the cost of homeownership for buyers, making it more affordable for more families to purchase homes. Additionally, by reducing mortgage costs, the government encourages more people to choose mortgage financing, promoting activity in the housing market.


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Secondly, the government has set limits on purchase and appraisal prices. These restrictions help prevent rapid increases in housing prices, prevent the real estate market from forming bubbles, and protect the interests of homebuyers. By reasonably setting limits on purchase and appraisal prices, the government maintains market order while safeguarding the legitimate rights and interests of homebuyers.


Thirdly, the government has introduced low-interest housing loan programs through state-owned banks, such as the Government Housing Bank's "Happiness Home" housing loan program. These programs reduce the repayment pressure on homebuyers by providing low-interest loans, stimulating more demand for homeownership, and promoting the healthy development of the real estate market.


Additionally, the government is considering relaxing policies on land leasing for foreigners, extending the land lease period to 99 years. This policy aims to attract more foreign investors to participate in Thailand's real estate market, promoting internationalization and capital flow in the real estate market and playing a positive role in economic growth.

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Thai government announces real estate policy: A new driving force for economic growth
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