Builders offer ready-to-stay promotions for homebuyers

"We’re offering no monthly instalments for the first year in the Bt3 million-and-under segment. This is a way to clear stocks and also to speed up sales by our company shouldering the cost of this campaign," Prasert Taedullayasatit, managing director of Pruksa Real Estate, said this week.

However, the campaign is only for some projects and some locations seeing sluggish demand.

Sansiri Plc has introduced "Now or Never", letting homebuyers stay for free for the first two years at its residential projects, of which it has 40 nationwide, ranging from single family homes to townhouses and condominiums.

This sale, which runs from now till June 30, also offers discounted prices of up to Bt1 million.

Sena Development’s free stay offer is for 15 months at its new single family home and townhouse projects – Sena Ville Ramindra and Sena Town Ramindra – worth Bt240 million.

It has also cut the down payment in half for customers of both projects.

Kessara Thanyalakpark, a director, said the company is banking on the special incentives to boost sales in the second half of this year after demand picked up only slight since early this year.

D Land Group has also jumped on the free-stay bandwagon to drive sales this year, managing director Siripong Somboon said.

In March, Ananda Development kicked off "Big Deals" for its eight residential projects. The first two years are free when moving into its ready-to-occupy units.

Pruksa’s Prasert said the cost of providing one or two years of free stays is not more than 5 per cent of a unit’s price.

Although developers have to shoulder high costs to run these promos, it’s better than having to carry more inventory that doesn’t generate income for them, he said.