“Worraphop” questioned the Cabinet’s decision to lower the mortgage registration fee to 0.01% and expand it to include houses priced at no more than 7 million as a measure for Thai people to own a home. or to help real estate companies Clear out the housing stock for sure.
.
On April 10, 2024, Mr Worapop Wiriyaroj, MP for the Kao Klai Party, mentioned the decision of the Cabinet yesterday (April 9) which approved five measures to stimulate the economy through the real estate sector, saying that there are two major issues which n reflects a worrying policy direction that could be seen as a conflict of interest by the Settha government.
The items he agrees are beneficial and encourage Thai people to own a home are the home loan project not more than 3 million baht / person, BOI home project not more than 1.5 million baht / house, but the worrying measure is the reduction of real estate. transfer fees from 2% to 0.01% and mortgage registration fees from 1% to 0.01% of the previous measures. stated only for houses priced no more than 3 million baht adjusted to include houses costing no more than 7 million baht.
The first issue is the origin of the review of this round of fee reduction measures. The government claims that the real estate market is slow and data from the real estate sector shows that only a small number of houses priced under 3 million baht remain for sale, but houses priced at 3 -7 million baht still on sale. The number is as high as 46% or in another sense. The houses in stock from the real estate investment group are priced at 3-7 million baht per house, not at prices less than 3 million baht per house This information comes from the government’s own statement to the press.
the original measures that have been specified are only for houses that do not cost more than 3 million baht, it is still understandable The main objective is to stimulate the economy and it is a policy that n support people on low incomes. It’s easier to own your own home. It turns out that this time the main objective is to change the conditions. Giving low-income earners a head start But basically, it allows real estate companies with a backlog of unsold houses to be able to facilitate the process of house sales more easily.
Mr Worapop added that the second issue is to reduce real estate transfer fees. Directly affecting local public services Because transfer fees are a source of income for local government organizations, including municipalities, Sub-Regional Administrative Organizations, and Bangkok, this measure will reduce local income to 23,822 million baht per year from the local income which is already rare. The government has announced this measure as a further aggravation because it directly affects local income. But it did not bring compensation for local income. It reflects the policy of this government which does not give importance to the local area. If I’m going to be honest. The way of thinking is similar to that of the government of Gen. Prayut, as if copied.
local replacement There will be income to develop services that are closest to the people. Instead, they were given to the government to use as a weapon. Take the resources extracted from local income and turn it into income for real estate companies. Take the money that would be used for public services and help clear the housing stock of real estate capitalists like that.
Finally, what could be more appropriate than this? Because it is a coincidence that Prime Minister Settha happens to be a former executive and owner of a large real estate company in Thailand. And real estate companies will become the beneficiaries of such measures. So I would like to ask a big question. With this government measure being a real estate stimulus measure to help low income people own a home. Or for the real estate investment group to clear all remaining housing stock.
#asks #Cabinet #reduce #mortgage #tax #million #house #encourage #Thai #people #home #real #estate #companies #clear #inventory
