Good time to buy a home – if you’ve got the dough
To boost sales in the second half of the year, most property firms have launched promotional campaigns and collaborations with strategic partners to offer purchasers more for their money.
A Nation survey uncovered aggressive marketing campaigns aimed at hiking third-quarter sales following slow growth in the first half, blamed on the Bank of Thailand’s reduction of loans-to-value (LTV) starting on April 1 and weak economic growth in all sectors, hampering people’s purchasing power.
The SC Asset Corp Plc marketing campaign “Luxury from the Inside” offers units in its 32 luxury residential projects at prices between Bt3 million and Bt100 million on August 24-25.
Thanasiri Group Plc has discounts and gifts worth up to Bt2 million for homebuyers who book through the campaign “Forever Mom” from August 10-12.
Up to 100 firms will offer promotions at the Home & Condo Show taking place from September 12-15 at Siam Paragon’s Royal Paragon Hall. The event is run by the Thai Real Estate Association, Thai Condominium Association and Business Housing Association.
Up to 1,000 residential projects will have promotional offers attached, such as discounted prices and free transfer fees, said Churat Chakarakul, deputy secretary of the Business Housing Association.
Commercial banks also will offer financial packages at the event, he said.
“We expect over 100,000 visitors and sales over Bt2 billion.”
AP (Thailand) Plc is spending Bt80 million on AP World, which is continuing through August 7 at Parq Paragon. It features technology and designs under the concept “Grow, joy, flow”.
“We expect sales above Bt800 million from this event,” chief of corporate strategy and creation Vittakarn Chandavimol said.
LPN Development Plc is offering discounts of up to Bt300,000 for its new townhome project, Baan Lumpini Rangsit-Klong 2, where unit prices start at Bt1.17 million.
A survey by Collier International Thailand found that new condominium launches in Bangkok dropped by 18,075 units (19.9 per cent) from the same period last year.
The Kasikorn Research Centre forecasts that the residential inventory will hit 201,000 units by year-end after demand dropped in the first half and growth has remained slow since then.