Reduction of Registration Fee for Transfer and Mortgage of immovable Property

The Ministry of Interior has issued two new ministerial regulations, regarding the Fee of Registration of Transfer and Mortgage of immovable property and condominium on 28 December 2023 under the Land Code and the Condominium Act. The new Ministerial Regulation prescribes the new rates of fees for transfer of ownership and mortgage. The eligible immovable property for the reduction includes detached houses, row houses, condominium units, semidetached houses, commercial buildings, and plots of land, which have the value of not more than three million Baht in case of sale and/or mortgage. Also, a buyer of such immovable property shall hold a Thai nationality. The new rates of registration fees are reduced from 2 percent to 1 percent of the sale price and from 1 percent to 0.01 percent of the mortgage amount. These ministerial regulations take effect until 31 December 2024.