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Thai central bank eases loan rules to help struggling property sector

19 Sept 15:13 Key points summarised by AI

Thailand's central bank relaxed loan-to-value (LTV) rules, increasing the limit to 100% for all housing contracts from May until June next year.
This move aims to support the ailing property sector, which is grappling with weak demand, oversupply, and high household debt, with minimal expected risk to financial stability.
The government also plans to announce reductions in transfer and mortgage registration fees within a month to further stimulate the property market, a crucial economic engine.

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.