The Cabinet yesterday gave the greenlight to the Finance Ministry's draft real estate tax bill after heated debate and Finance Minister Korn Chatikavanij's assurances that the fixed-assets tax would narrow the yawning income gap between rich and poor.
The real-estate industry is continuing its growth momentum, as developers have maintained their investment plans despite the political hiccups, according to the Bank of Thailand.
More than 3,000 new condominium units near the Airport Rail Link line, worth over Bt30 billion, are slated for completion and transfer to owners by the end of the year.
Foreigners are deferring investments in Thai property, according to CB Richard Ellis (Thailand), as clashes between the government and protesters in Bangkok left more than 20 people dead this month and hundreds injured.
Q1 survey reveals fear over end of tax breaks
The property developers' expectation index slipped in the first quarter for the first time since the end of 2008 because of concern about the expiry of tax breaks for homebuyers, says Government Housing Bank president Khan Prachuabmoh.
Quality Houses, which operates Centre Point serviced apartment, witnessed at least a 10 per cent drop in occupancy rate for the Songkran festival.