Thursday, October 24, 2019

Discounts to 50 per cent on home loans at NPA sale: finance chair

Aug 29. 2019
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By The Nation

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Homebuyers will get a special promotion discount price of up to 50 per cent at the NPA Grand Sale & Home Loan 2019 that will run until September 1, 2019 at Impact Muang Thong Thani.

The event has non-performing assets (NPA) for sale worth Bt132.528 billion in this event, with Bt92.528 coming from the NPA from commercial banks, with the next Bt40 billion from asset management firms, said Kitti Pattanapongpibul, chairman of Housing Finance Association, after the event’s grand opening on Thursday.

He said the banks and asset management firms have offered a discount of up to 50 per cent, as well as providing a 0 per cent interest rate for the mortgage loan.

“We expect sales at the event worth Bt3 billion and for deals made after the event being worth up to Bt10 billion,” Kitti said.

He added that the property market at this time has a supply surplus over demand, and that has forced an NPA price drop below the market price. This is the challenge homebuyers face while buying a residence at this time.

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