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property

With no sign of govt stimulus, property industry prepares sales campaigns


Property firms are preparing to launch promotional campaigns to drive sales in the remaining months of the year while Cabinet approval of a stimulus package for the real-estate market is delayed.

With no sign of govt stimulus, property industry prepares sales campaigns

"We want the government to be clear on whether it will launch the measure or not," said Thai Condominium Association president Prasert Taedullayasatit, after the Finance Ministry failed to propose such a stimulus to the Cabinet yesterday.

"If not, that will clear the way for property developers to do their business and people will decide whether or not to buy homes. Customers have been delaying the transfer of their homes for the last two weeks, since the Finance Ministry announced its plan to launch the measure."

He added that even if the government does not initiate measures to boost the property market, real-estate firms would strive to do it themselves with promotional campaigns. However, clarity on the government’s policy on this issue is still needed.

Among the firms planning promotions is AP (Thailand). Its "Final Call" campaign offers discounts of up to Bt4 million per unit, depending on price. The event runs from October 10-18 for all sizes of homes.

Raimon Land has unveiled its annual "Space Matters" campaign across five residential projects, offering customers discounts of up to 18 per cent on selected units, running from October 8-18 at all of its sales offices.

Ananda Development’s "Super Deals" campaign offers booking fees of only Bt1 per unit. The promotion runs from tomorrow until Sunday at the 33rd "House and Condo" show at Queen Sirikit National Convention Centre in Bangkok.

Other firms are also holding special promotions at the show, such as free stays for the first two years and free transfer and mortgage fees.

Tritecha Tangmathithum, deputy managing director of Supalai, said it didn’t matter to his company whether the government launched market-stimulus measures, as the firm was attracting customers by waiving transfer and mortgage fees.

This final quarter of the year should see residential transfers to customers worth Bt120 billion, Bt80 billion of which is condominiums and the rest detached houses and townhouses, according to the Thai Condominium Association.

Prasert said: "If there are no government measures, the property market will still grow by 10 per cent this year compared with last year. But the government should still make its intentions clear so buyers stop delaying home transfers."

Published : October 07, 2015

By : Somluck Srimalee The Nation