Pre-owned homes up for auction
Property Choice, an asset-management unit which aims to stimulate movement within the pre-owned housing market, is presiding over a series of auctions in Min Buri that include more than 27 properties with a combined appraisal value of Bt30 billion.
Kasig Sriswasdi, executive in charge of marketing and properties designated for sale of Capital Advisory Services (Thailand) Co Ltd - operator of Property Choice - has said the properties include detached homes, town houses, condominiums, commercial buildings and empty lots. Despite a sluggish economy, the company is confident in the current popularity of pre-owned homes. It hopes special deals, such as zero interest, will attract buyers. The four auctions, the first of which is being held on August 22, are organised in conjunction with the Legal Execution Department, the Global Thai Property Mutual Fund and Palarp Property Management Co Ltd. The other three auctions are scheduled for 9am on September 5, September 12 and September 19 at the local offices of the Legal Execution Department. Starting bids will be equivalent to 50 to 80 per cent of the official appraised value. "The pre-owned home market is growing due to stimulating tax measures launched by the government, as well as becoming a popular choice because of good locations and at least a 20-per-cent cost advantage," Kasig said. Among the properties on offer is a detached house in Romsook Village 4 set in 65 square wah with an appraised value of Bt1.71 million, and a detached house in Anan Suksant Ramintra 5 set in 138 square wah with an appraised value of Bt1.44 million. The company also has a number of properties ready for sale and is offering a special deal of zero interest for 10 months on homes under Bt500,000.
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