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Posted

I see a lot of low budget housing projects in Phuket recently. Most of them in Kathu area will fall between 2-7 million baht range. Thais are normally paying in installments for 30 years to the bank. How does developer get the money from sales? Does he receive partial payments every month for 30 years while bank takes some interest? Or project owner gets full amount from the bank? Apologize if this is a naive question. Anyone can explain?

Posted

The developer gets full payment from down payment made by the buyer and the balance from the bank providing the mortgage. This is being practiced worldwide and not just Thailand.

Posted

Thank you for your answer! Have piece in my mind now.

Sent from my GT-I9500 using Thaivisa Connect Thailand mobile app

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