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Cash incentives for used-home buyers.
Byline: Kanana Katharangsiporn
Feb. 3--Demand for used houses is expected to grow by 20 percent this year due to government tax incentives, according to Wisit Kunathornkul, managing director of the property brokerage Realty World Alliance Co.
The incentives include exemption from the 3 percent special business tax on home sales, the reduction in mortgage fees to 0.01 percent from 1 percent for buyers, and a cut in the transfer fees that buyers or sellers pay, to 0.01 percent from 2 percent.
To discourage property "flipping" or speculation, a homeowner must have owned the property for at least one year prior to selling to qualify for the tax and ...
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Source: HighBeam Research, Cash incentives for used-home buyers.