Thai Real Estate Association president Kittipol Pramoj na Ayudhya said his organisation and the Thai Bankers’ Association had submitted a letter to Prime Minister Abhisit Vejjajiva on Sunday, asking for the extension.
Before yesterday’s decision, the number of transactions had skyrocketed this month ahead of the end of the incentives, overwhelming the limited number of officials at the Lands Department.
Banks have also received a flood of loan applications, which they could not process as quickly as demanded.
In their letter, the associations also said traffic congestion as a result of the ongoing red-shirt political rally had also limited the travelling convenience of home-buyers. Kittipol said as many as 40,000 home-buyers in Bangkok were still waiting to complete transfers this month.
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The sales rate for new condos launched in Bangkok in the second quarter fell to 15.7 %, an all-time low, beating the lowest previous quarter (35%) in 2010 when the “red shirt” political crisis brought Bangkok to a standstill.(more…)
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Before You Buy try to Rent
Simply inspecting the property at the site or show unit is not enough to really tell what the real living experience will be.
Buying a home is a big decision in life. For a super luxurious condominium worth more than THB 50 million per unit in a prime location, it is hard to know which building or unit will suit you the best without a real test of actually living in the building.(more…)
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