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Now may be the best time to buy a condo

Apr 20. 2020
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Large real-estate developers have decided to get rid of their unsold units by holding special promotions now that the sale of property has dropped sharply over the past two months owing to the Covid-19 crisis and the government’s lockdown measures.

Thansettakij newspaper said there are more than 100,000 unsold units nationwide worth Bt300 billion, based on a selling price of Bt3 million per unit.

In a bid to attract buyers, these companies have launched several promotions. For instance, Major Development is allowing people to book their units via @MajorDevelopment Line account from April 15 for a special discount.

All Inspire Development is letting buyers pay just Bt22 for 24 months for their promoted condominiums, while Pruksa Real Estate is offering a 10-per-cent discount on certain projects. Meanwhile, the Plum condominiums near Rangsit University and Bangkok University’s Rangsit Campus is looking for buyers who want to rent out their new property to students.

Wanchak Buranasiri, Sansiri’s chief financial officer, said demand for Sansiri developments has not dropped, and thanks to the company’s successful campaigns, its first quarter sales for this year stood at Bt11 billion.

For the second quarter, Sansiri is running the “Sansiri pays up to 24 months” for specific projects nationwide.

Vichai Viratkapan, inspector at the Government Housing Bank’s real-estate information centre, however said that there were about 300,000 unsold housing units, including 69,000 that were ready to move in, 30,000 condominiums and 39,000 standalone residences.

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