The Government Housing Bank is urging |home-buyers to hurry, saying they could save |up to Bt30,000 on a house worth Bt1 million before the tax breaks on real-estate transactions expire.
"The tax amounts are considerably different. Home-buyers, particularly the 4,000 who buy houses under the Ban Ua Athorn project, have to contract with the bank early," Khan Prachuabmoh, president of GH Bank, said yesterday.
Deputy Finance Minister Pradit Pataraprasit warned buyers to make a transaction before March 26, the final day for the tax incentives.
Many people misunderstood that the tax privileges would end on March 28, he told a press conference.
The ministry will launch a publicity campaign urging home-buyers to act before March 26, he said.
Khan said buyers would pay only Bt200 in |tax on a home worth Bt1 million up to March |26, but after that they would have to pay Bt30,000.
This is because the transaction fee will return to 2 per cent from 0.01 per cent and the mortgage fee to 1 per cent from 0.01 per cent.
For new applicants, GH Bank, the country's largest mortgage lender, promises to approve home loans within seven days and then the transaction will be completed within three days, he added.
