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Govt package boosts share prices of developers

Nov 26. 2019
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Share prices of several listed property developers rose today (November 26) after Cabinet's announcement of a stimulus package for the sector, including the offer of Bt50,000 in cash-back to homebuyers.

The price of AP (Thailand) or AP rose 5.30 per cent to close at Bt6.95 as Supalai (SPALI) climbed 4.09 per cent to end at Bt17.80.

Ananda Development (ANAN) surged 3.52 per cent to close at Bt2.94. L.P.N. Development (LPN) gained 2.14 per cent to Bt4.78 at the close.

Share price of Pruksa Holdings (PSH) inched up 0.64 per cent to Bt15.70 as Origin Property (ORI) rose 1.42 per cent to close at Bt7.15.

SC Asset Corporation (SC) closed at Bt2.32, up 0.87 per cent from Monday's.

Earlier today, the Cabinet had approved three new stimulus packages to prop up the softening economy.

The package for property aims to reduce home-purchase costs. The government will offer a cash-back of Bt50,000 per buyer on the down payment.

To be eligible, the buyer must have a monthly salary not exceeding Bt100,000 and included in the Revenue Department's tax database of around 100,000 individuals under this category. The campaign will start tomorrow (November 27) and end on March 31, 2020.

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