Sales pitches rolled out before loan curbs bite

Real Estate October 05, 2018 01:00

By   SOMLUCK SRIMALEE
THE NATION

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PROPERTY firms are launching special promotion campaigns to boost sales in the last quarter of the year at the 39th Home & Condo show, ahead of the Bank of Thailand’s new measure to reduce loan-to-value and debt service ratio comes into effect next year.



The event , organised by the Thai Real Estate Association, Business Housing Association, and Thai Condominium Association runs from October 4-7, at the Queen Sirikij Convention Center. 

Pruksa Real Estate Plc is offering discounts of up to Bt500,000 for homebuyers deciding to purchase its residential units at the event while Property Plc offers discount prices of up to 50 per cent on downpayment. Thanasiri Group Plc offers discount prices of up to Bt1 million. 

The Government Housing Bank offers special interest rate at minimum retail rate or MRR minius 5.76 per cent to homebuyers. Alternatively, they can choose to pay an interest rate of 0.99 per cent for the first four months. 

 All Inspire Development Plc offers discount prices of up to Bt200,000 at the event.

 200 property firms are participating in the event , introducing more than 1,000 residential projects. 

“We expect up to 100,000 visitors for the four-day show with on-site sale value of up to Bt4 billion. Another Bt8 billion in sales is expected following the event . 

This will drive growth of the property market in the rest of this year,” said Pitipat Preedanond, chairman of the organising committee of the event.

“This event is the last chance for homebuyers to get special promotion from property developers and financial institutions before the BOT announces new measure to rein in commercial banks’ lending to homebuyers,” said an industry source.