Thailand Real Estate Magazine

Deputy Prime Minister Surapong Suebwonglee

Finance and Deputy Prime Minister Surapong Suebwonglee has voiced confidence that the property business will grow markedly in the second half of this year once measures issued to stimulate the sector start to take effect.

Speaking after presiding over the opening of the 18th House and Condo Fair exhibition in Bangkok last week, he said the property sector is considered a key area of government focus for jump-starting the economy.

He said the current government’s measures to reduce the ownership transfer fee and specific business tax for homebuyers would help boost house purchase activities.

Dr. Surapong said he has already discussed with the Secretariat of the Council of State a process to put the measures into effect and they will be proposed for royal approval before being published in the Royal Gazette. It is expected the measures would take effect soon.

Athip Prechanont, president of Supalai Plc, said the public would take a few months to decide on house purchases once the economic stimulus package is issued and he believed total sales of houses would increase after mid-year, which would also help boost supporting industries. He said he expects the property business to expand by up to 10 per cent this year. (TNA)