Transfer of house ownership soared

BANGKOK, Dec 10 (TNA) - A prominent housing developer said the number of transfer of house ownership has soared by almost double after the government has reduced transfer and mortgage fees for six months in an attempt to boost the housing sector. Prasert Taedunlayasatit, managing director for the condominium group of Pruksa Real Estate Public Co., Ltd., said the number of transfer of house ownership had jumped from the total value of 3.5 billion baht in October to 6.5 billion baht in November. Mr.Prasert said the government’s property stimulus measures has also helped in releasing houses in stock and would help in stimulating real estate business to grow between 5 -10 per cent next year. Meanwhile, Sopon Pornchokchai, president of Agency for Real Estate Affairs company, said he expected a large number of transfer of land ownership would be seen during the last week of December before the new land appraisal will become enforced in 2016 which would make land prices jump between 20 – 25 per cent from now. (TNA)