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Posted

Good time to buy a home – if you’ve got the dough

By Somluck Srimalee
The Nation

 

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Perspective of Baan Lumpini Rangsit-Klong by LPN Development Plc that offers discount price up to Bt300,000 for boost its sale in the second half of this year.--Photo by LPN Development Plc

 

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.

 

Source: https://www.nationthailand.com/property/30374263

 

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-- © Copyright The Nation Thailand 2019-08-06
Posted

Thanks for the news but not for me. You see, Thailand does not allow me to buy land and Thailand banks will not loan to foreigners. My housing budget is in the 10 - 15,000 range monthly. I can pay rent or buy a house, preferably in my Thai love’s name to leave her some security but... Up to Thailand!

Posted

I'm no financial genius, but with my £ at 25% less than it was a few years ago, I can't quite see that this is true. Thai baht is killing foreigners buying property, not making it BOOM ! 

 

And if perchance the market IS booming - it's foreigners selling to get out whilst the baht is mad high and get the profit 

 

 

 

 

  • Like 1
Posted

Saw a condo, nice two bedrooms and 84 sqm the other day for two million B, priced to sell they said. Other condos in the same block, identical with only small variations in furnishings are listed from 2.9 millions to 3.5 millons.

I will rent for a long time...

  • Like 1
Posted

Right now, many good locations in America (Kentucky, Tennessee, Florida, Texas, Idaho, etc.)—have a lower cost of living.  Someday, the Baht will fall back to normal—so we remain in a holding pattern...

  • Like 1
Posted
2 hours ago, observer90210 said:

You will never own the land as a farang and putting it in the name of your Thai girlfriend will just be suicidal.

Why oh why does this fairy-tale keep coming up?

There's a very easy solution, you get her to give you a 30 year lease. Nobody will touch the paper as collateral for a loan and if she dies, this does not annul the lease. When you want to sell, just end the lease at the land office (20 minutes) and sell the property. Of course, if you're not with a lady that you can trust, then there are other ways, but, I've been fortunate.

 

My own personal view, is that the only good reason to buy a house, or, condo is to live in it, not for investment.

Have been on the property ladder since 1990. Always doubled my money when I sold and haven't paid a single Baht in rent since then.

  • Like 2
Posted
5 hours ago, geoffbezoz said:

Please provide the link to illustrate your claim you can only get a garage like this for 100 million Baht in BKK.  Or else just refrain from whatever it is you are drinking until reality kicks back in

take a deep breath.    relax .   ommmmmmmm

  • Like 1
  • Haha 1
Posted

Anyone who moved their money to Thailand bought property with it say 5 years ago would be sitting very pretty, particularly in their original currency.

 

I dont know as a property analyst would know, but I think the main variable factor influencing house prices over the medium term is interest rates.

 

If you consider that a household has a fixed monthly budget to spend on accomodation, then as interest rates go down, that family can borrow more money, and that extra money will just materialize in higher house prices.

 

Conversely, if interest rates go up, the family can borrow less and so there will be a lower wall of money chasing property and thus house prices should come down.

 

Next in Supply on demand, comes Supply. We are told that bang cock and Thailand in general is swamped out with new condo blocks. Many of excellent quality, incidentally. But according to this article new condos coming onto the market have dropped by 20% yoy. To me, with all these marketing campaigns, it sounds like developers looking to clear an overhang.

Posted
On 8/6/2019 at 1:32 PM, Vacuum said:

What home, looks like a garage to me.

 

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Works out great for those living in their cars. You could house 3 families in this mansion.

 

The wave of the future laddies !

Posted
On 8/6/2019 at 1:35 PM, MartinKal said:

Anyone who moved their money to Thailand bought property with it say 5 years ago would be sitting very pretty, particularly in their original currency.

 

I dont know as a property analyst would know, but I think the main variable factor influencing house prices over the medium term is interest rates.

 

If you consider that a household has a fixed monthly budget to spend on accomodation, then as interest rates go down, that family can borrow more money, and that extra money will just materialize in higher house prices.

 

Conversely, if interest rates go up, the family can borrow less and so there will be a lower wall of money chasing property and thus house prices should come down.

 

Next in Supply on demand, comes Supply. We are told that bang cock and Thailand in general is swamped out with new condo blocks. Many of excellent quality, incidentally. But according to this article new condos coming onto the market have dropped by 20% yoy. To me, with all these marketing campaigns, it sounds like developers looking to clear an overhang.

A 100% correct Martin.

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