With the market expecting only slight growth in 2019, most major Bangkok property firms launched promotion campaigns to boost sales in the last two weeks of this year.
For example, Pruksa Real Estate Plc has launched its latest campaign, Biggest Sale Ever, between now and December 28, 2018. It offers customers who make a residential purchase entry into a lucky draw worth a combined Bt200 million.
Origin Property Plc launched its One Price promotion campaign by offering residential units at a Bt1.29 million starting price from December 8-11, 2019. The campaign managed to sell Bt220 million worth of units in the four-day event.
The latest campaign from Helix Co Ltd, a subsidiary of Ananda Development Plc, will offer a Bt2,018 down-payment Bt2,018 for 18 months, for customer who buy from among its four townhouse projects under the Unio Town brand, with prices between Bt2.28 million and Bt3.19 million per unit. The campaign runs from now till December 25, 2018.
Supalai Plc launched a winter campaign offering price discounts of between Bt25,000 and Bt100,000 for customers of its residential project till December 15, 2018.
Meanwhile, the latest campaign from Government Housing Bank will provide residential loans of up to Bt1 million, following government policy, on the December 23 weekend.
“Most property firms have tried to boost their sales in the last month of this year till the first quarter of next year before the new measure from the Bank of Thailand to increase down-payment value comes into effect on April 1, 2019,” Issara Boonyong, chief executive officer of Kanda Group, said recently.
Issara, who is also honorary chairman of the Business Housing Association, added that most property firms this year launched additional new residential projects to keep a backlog, as they do not know what will happen in 2019.
A survey Business Housing Association found that new residential projects launched in Bangkok and its suburban in the first 10 months of this totalled 95,727 units, up 6 per cent from the same period of last year. Condominium units accounted 57,878 of them, up 10 per cent from the same period of last year. The next 37,849 units were single detached houses and townhouses, up just 1 per cent from the same period of last year.
Meanwhile, new registrations of single detached houses and townhouse in Bangkok and its suburbs for the first nine months of this year totalled 43,125 units, up 15 per cent from the same period of last year. And new condominium registrations for the city and suburbs totalled 49,461 units, up 4 per cent from the same period of last year.
Recorded residential transfers in the first nine months of this year totalled 140,583 units, up 22 per cent from the same period of last year, with 71,578 units of those being single detached houses and townhouse, up 19 per cent from the same period of last year. Next were transfers of 69,005 condo units, up 24 per cent from the same period of last year, he said.