Price cuts aim to move units before April 1 measure kicks in

Real Estate March 04, 2019 01:00

By Somluck Srimalee
The Nation

12,139 Viewed

Property firms have launched aggressive marketing campaigns to drive sales in the year’s first quarter before a Bank of Thailand mortgage measure kicks in on April 1.



 

The campaigns also allow the firms to reduce their high inventory at a time when the economy has slowed down.

Noble Development Plc, for example, has launched it latest marketing campaign, with a 29 per cent discount for customers who buy into its Noble Ploenchit by offering prices of Bt190,000 per square metre, down from Bt270,000 per square metre.

The project now has about 200 units sized between 44 and 110 square metres and selling for about Bt2 billion.

“We expect this campaign will sell out this project,” the company’s assistant managing director Sira Udon said recently.

Assetwise Co Ltd offers a discount price of up to 20 per cent for its H2 Condominium Ramindra 21, reducing from Bt3.53 million per unit to a discounted Bt2.79 million per unit, along with a free transfer fee.

Origin Property Plc is offering a discount price for Knightbridge Tiwanond,  from the original of up to Bt3.66 million to the new price of Bt3.39 million, drop of 7.3 per cent.

Sena Development Plc offers free down payment and a discount of up to Bt1 million for its 18 residential projects nationwide, with residential units priced between Bt1.2 million and Bt8.2 million. The company expects sales of  Bt1.2 billion from this event that runs from now till the end of March, 2019.

Supalai Plc offers a discount of up to Bt270,000 per unit.

Sansiri Plc offers a discount price up to Bt12 million, or about 48 per cent, for its Baan Mai Kao, Phuket from a starting price of Bt25 million per unit. The company has also launched other campaigns such as a free transfer fee and public area fee, free to stay in the first two year. The campaign runs from now till March 15, 2019. The company expects sales of about Bt2 billion from the campaign.

From now till March 24, 2019 Grand Unity Development Co Ltd is offering a discount price of up to Bt2 million, along with a free-to-stay offer for the first two years for all customers who buy its brand U, and U-Delight condominiums nationwide. The company expects sales worth up to Bt2 billion from this campaign.

Most property firms also showcase their latest marketing campaigns at the 40th House and Condo Show 2019 between March 21-24, 2019 at Queen Sirikit National Convention Centre.

The event expects above 100,000 visitors and sales values of up to Bt8 billion during the show. Most property firms and commercial banks are also offering a special price and financial package before the Bank of Thailand measure comes into effect on April 1, 2019.