Properties from about 200 developers being offered at old prices at 42nd House and Condo Exhibition

[webfact]

 

by Na-ark Rojanasuvan
    
BANGKOK (NNT) - Prices of energy and construction materials as well as interest rates have all increased this year. Nonetheless, the Thai Condominium Association and Housing Business Association are partnering with developers to offer properties at their original prices. These offers from about 200 developers may be found at the 42nd House and Condo Exhibition in Bangkok.

 

Labor minister Suchart Chomklin presided over the opening of the 42nd House and Condo Exhibition at Queen Sirikit National Convention Center. During the occasion, he said the real estate sector is one of the drivers enabling the Thai economy to expand. This is due to the fact many businesses are associated with real estate. He acknowledged that construction costs will soon rise by 5-10% because of high energy prices impacting the prices of construction materials. The rise in minimum wages will also have an impact on construction costs.

 

Chairat Thamphira, chair of the 42nd House and Condo Exhibition organizing committee, said the current period is still an appropriate time for buying properties. He cited the current government measure reducing the property transfer fee and mortgage registration fee. The Bank of Thailand is also currently implementing relaxed LTV ratios for mortgages to enable borrowers to take a loan of equal value to the property. Furthermore, property developers partaking in the exhibition are keeping prices unchanged as the properties were constructed when costs were lower.

 

32.8% of properties available at the exhibition are condominiums. 19.7% are detached homes and 16.4% are townhouses. The properties are being offered alongside special promotions from the developers. About 100,000 people are expected to visit the 4-day exhibition that is being held from today (27 October) until Sunday. The organizer expects roughly 50 billion baht in sales during and shortly after the event.

 

Those who would like to look at current property offers from developers may visit the exhibition at Queen Sirikit National Convention Center Hall 5.

 

Source: https://thainews.prd.go.th/en/news/detail/TCATG221028091046590

 

-- © Copyright NNT 2022-10-28

 

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[edwinchester]

So they can't sell these properties and have reduced the price a little bit?

[Cake Monster]

Original price on an over inflated one is still too expensive.

Why not advertise it as a Fire Sale, because thats what this seems like.

[tomazbodner]

7 hours ago, webfact said:

He cited the current government measure reducing the property transfer fee and mortgage registration fee. The Bank of Thailand is also currently implementing relaxed LTV ratios for mortgages to enable borrowers to take a loan of equal value to the property.

What a way to deal with debt crisis...

[Aussieroaming]

Maybe one day Thais will realize that saturating the market with new property's isn't a great way to sustain property prices. The building craze never seems to diminish here. 

[hotchilli]

20 hours ago, edwinchester said:

So they can't sell these properties and have reduced the price a little bit?

Still over-priced at the old prices.

[Henryford]

12 hours ago, Aussieroaming said:

Maybe one day Thais will realize that saturating the market with new property's isn't a great way to sustain property prices. The building craze never seems to diminish here. 

I don't think they want to sell them. Just a way to launder dirty money.

[Cake Monster]

14 hours ago, Aussieroaming said:

Maybe one day Thais will realize that saturating the market with new property's isn't a great way to sustain property prices. The building craze never seems to diminish here. 

Its a great way to do the Laundry though.