The Cabinet today approved the extension of the property tax incentives for another two months, said Prime Minister Abhisit Vejjajiva.
The government's tax incentives for the property market, which are part of the government's stimulus package, will originally come to an end on March 28. They will now end on May 31.
He said that the extension would allow over 10,000 homebuyers may not be able to complete the transfers within the original deadline.
Earlier, the Cabinet denied the extension, citing that property companies have enjoyed hugely from the incentives.
It is estimated that for the house price of every Bt1 million, buyers' cost will rise by Bt20,000 when the incentives are over. The transfer and mortgage registration fee is now 0.01 per cent and will return to 2 per cent in June. The special business tax will also rise from 0.11 per cent to 3 per cent.
