Developers and financial institutions are pushing special promotions at the 30th House and Condo Show at the Queen Sirikit National Convention Center to boost sales by up to Bt3 billion from its four-day run.
The first real estate event of this year is hoped to reflate the property market after it collapsed more than 20 per cent in the first two months along with the political turmoil.
The show is staged by the Housing Business Association, Thai Condominium Association and Thai Real Estate Association.
Supalai’s “save more plus free all” campaign waives transfer fees and common area maintenance fees for the first year.
Major Development offers 10 months of zero interest rate for bookings via Krungsri credit cards.
Lalin Property’s “Make a Wish” campaign offers discounts of up to Bt200,000 on residences reserved at this event.
Fragrant Property Co launches special privileges for Kasikornbank and Bangkok Bank mortgage customers for its Circle 2 condominium project, such as zero interest for six months and a down payment of only 5 per cent. This campaign starts with this event and continues for the rest of this month.
Pruksa Real Estate has prepared various incentives such as discounts of up to Bt50,000 for condominiums at the Privacy Rewadee and up to Bt700,000 for single family homes at three Delight-brand projects - Rama V-Kanjanapisek, On Nut-Motorway and Ring Road-Watcharapong.
Ananda Development also has discounts of up to Bt100,000 for the Elio Sukhumvit 64 and a zero interest rate for 10 months on bookings paid by credit card.
The Government Housing Bank is cutting its interest rate to 1.25 per cent for the first year on mortgage loan applications received from this event up to March 31.
Pramote Yamalee, deputy director-general of the Lands Department, said yesterday that since the beginning of the year, the political tensions have depressed the real-estate industry. Property investments and transactions have slowed down with the Bangkok market taking a direct blow. The cost of doing business looks set to soar. Land prices, labour wages and energy cost are on an uptrend.
But on the bright side, projects near mass transit train lines and river bridges have continued.
These factors have encouraged the growth of housing demand. So if the political tension eases and the economy rebounds, consumer confidence will gradually climb back up. The real-estate market will then return to normal.
Anongluck Padhayanun, chairwoman of the organising committee, said the three main associations from the real-estate industry have decided to go ahead with the fair because they want to shore up consumers’ confidence and purchasing power.
“Our ultimate goal is to sustain the industry’s growth. Also, we hope that the political unrest will end soon and that sales will shoot up again,” she said.
Medium and large entrepreneurs are bringing more than 600 real-estate projects to this year’s edition. Their products cover landed houses, condos, shophouses, resort homes, golf courses and vacant land. And all of them come with very special promotions. “We indeed stay true to our slogan of the ‘Greatest range of choices: housing units at all locations and prices available here’,” she sad.
The organising committee is spending more than Bt20 million on advertising and public relations activities to create public awareness of the show, attract 80,000 visitors and generate sales of well over Bt3 billion.
The Monetary Policy Committee’s vote on Wednesday to cut the policy rate by 0.25 percentage point was good news for the property industry. That will help drive the business at a time when homebuyers are delaying their purchase decisions, she added.