Single house sales to gain | Bangkok Post: business

FIRST-HOME PLAN

The government's first-home policy will help certain developers of almost 20,000 single houses priced from 3-5 million baht now available in Greater Bangkok, says the consulting firm Agency for Real Estate Affairs (AREA).

First-time homebuyers of units priced up to 5 million baht who buy from yesterday until December next year can deduct 10% of the price from their taxable income for five years. The measure has been criticised because it benefits mainly mid- to high-income earners.

The company's survey found an available stock of 135,598 units in Greater Bangkok, of which 87% are priced below 5 million baht. These units are forecast to be absorbed by the market in 16 months, and only 10 months for condominiums.