Thai Condominium Association  and Thailand News


The Thai Condominium Association‘s new president has submitted two main proposals to revise the tax structure in the property sector to the NCPO; lowering the current transfer fee of 2% of residential value to zero, and lowering the 1% mortgage fee to the zero as well. This would reduce transaction costs for home-buyers and boost residential demand. Additionally the association continues to lobby against the special business tax of 3.3%, which is a burden on property firms.


Thai Trade Representatives overseas have been communicating with private enterprises, trade associations, the media and press, and government inform them of the situation in Thailand and to restore confidence in Thailand’s ability to remain a safe and secure place to do business. The representatives let people know that there has been no violence and that visitors will be safe. Additionally they pointed out that with the clear policies of the National Council for Peace and Order to drive the economy it is strongly believed that the domestic economy, export sector and investment will grow this year and next year.


The NCPO and the State Railway of Thailand have agreed that the construction of dual track railway lines is of key importance to national logistics. The SRT has called on the NCPO to speed up the environmental impact assessment so that the construction can be fast tracked. The government is considering constructing five dual track railway lines around the country.


The baht gained strongly at the close of last week reaching a nearly 1% gain in the week on the back of the junta leaders pledge to boost spending to revive economic growth, calming fears and encouraging investors that the leaders will provide stability by following through on many projects and incentives that had been stalled by the previous protests. Foreign funds brought in $US 523 million into the Stock Exchange of Thailand and local currency sovereign bonds in the first four days of last week. The SET closed up on the week reaching 1,458.02, rising 4.86 points or 0.33% on turnover of 45.391 billion baht.

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