This article brings you news about the land and condo registration fees. Following successful reform in the past, on January 18, 2022, the Government Gazette website published the Ministry of Interior’s announcement on the collection of fees for registration of rights and juristic acts under the Land Code.

Effective from January 18 to December 31, 2022, the reform covers second-hand homes and debt restructuring in addition to new homes such as detached houses, semi-detached houses, row houses, commercial buildings, and condominium units to stimulate the real estate business for another year.

According to the rules prescribed by the Cabinet, for the registration of a sale and mortgage of immovable property, the transfer fee and legal act were reduced from 2% to 0.01% and the mortgage fee from 1% to 0.01%.

In order to qualify for the reduced rates, the sale and mortgage must be registered at the same time by a Thai natural person, and the sale price and mortgage amount must not exceed THB 3 million.

Let’s hope that the government will extend these registration fee reduction rules to assets with higher value and to foreigners and/or juristic persons. Don’t hesitate to contact us for more information or simply to assist you during the procedure concerned. If you are in need of a real estate lawyer or for more information, feel free to contact us at any time.