SUNDAY, March 03, 2024
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GHB earns THB3.5 billion from auction of repossessed properties

GHB earns THB3.5 billion from auction of repossessed properties

More than 3.5 billion baht has been generated from the auction of foreclosed properties in the first 11 months of this year, the Government Housing Bank (GHB) said.

Saksit Jittanoon, GHB deputy managing director, said the bank generated 550 million baht from the auction of 495 properties on Saturday alone.

Of them, 119 worth 126 million baht were located in Greater Bangkok, and 376 worth 424 million baht were located in other parts of the country, he added.

“This is all thanks to rising interest in the auction of foreclosed properties,” he said.

GHB earns THB3.5 billion from auction of repossessed properties

The bank expects these auctions to generate at least 4 billion baht this year and 4.5 billion baht next year.

Saksit added that GHB plans to develop a smartphone application to make the purchase of expropriated properties easier.

“GHB also plans to auction off some more foreclosed properties in Bangkok this year to maintain the bank’s liquidity and prepare for economic crises next year,” he added.

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