Reduction on the registration fee for transferring real estate and real estate mortgages

There are two Ministerial Regulations issued by the Interior Ministry on 28 December 2023, called Ministerial Regulation on prescribing the registration fee for rights and juristic acts for transfer and mortgage B.E. 2566 (A.D. 2023). One of the Ministerial Regulations prescribes the reduction on registration fees for real estate transfers, including residences, single houses, semi-detached houses, row houses, commercial buildings, and land with buildings. The other Ministerial Regulation specifies the reduction of the registration fee on transfers and mortgages of condominium units.

These measures will be effective in cases where the purchase price and the cost appraisal price do not exceed 3 million baht and the mortgage amount does not exceed 3 million baht. And only the purchaser, who is of a Thai nationality, will be eligible to enjoy this benefit.

Both of the Ministerial Regulations prescribe a reduction of the registration fee on transfers and mortgages; the transfer fee will be reduced from 2% to 1%. and the mortgage fee has also been reduced from 1% to 0.01%.

In addition, the land and building tax collection period of 2024 has been extended for an additional two months.