Condo for rent in Bangkok, Metroaprk sathorn Condo, Metropark sathorn Map, Condo for rent on sathorn road, near siam university, Condo near BTS Skytrain, sky train, BTS, คอนโด สำหรับ เช่า ที่ เมโทรปาร์คท สาทร, เมโทรปาร์คท, สาทร, คอนโด ใกล้ ม.สยาม, คอนโด ใกล้รถไฟฟ้า, คอนโด ให้เช่า บนถนน สาทร, คอนโด สำหรับ เช่า และ ขาย ที่ เมโทรปาร์คท สาทร, คอนโด สำหรับ เช่า ใน กรุงเทพฯBangkok Condo2010-03-16T16:47:36ZWordPresshttp://metroparksathorn.com/htm/feed/atom/Administrator<![CDATA[Good News about Internet]]>http://metroparksathorn.com/htm/?p=46382010-03-16T16:47:36Z2010-03-16T16:47:36ZThis is very goods news for all the residents of Metropark Sathorn at Phase 1 and Phase 2/1.
The True internet will be ready to use from March 21st at both the phases. True Online will setup a sales booth at Phase 1 on Saturday, March 20th and on Sunday, March 21, to sell the packages. During these two days they will distribute the router free for all the users and after that everyone has to pay extra for that.
The cheapest Promotion they have right now is 4Mbps line at 599 Baht per Month.
For More Information about it please call true online at 083-233-1493 or 086-999-3902. Also can get all the information from the Management offices of these two buildings.
Phase 1 = 02-458-8167
Phase 2/1 = 02-458-8663
]]>0Administrator<![CDATA[Bookings at condo launches unaffected]]>http://metroparksathorn.com/htm/?p=46452010-03-16T16:35:21Z2010-03-16T16:35:21ZThe ongoing red-shirt rallies had only a small impact on property bookings and sales last weekends while condominium market leader L.P.N. Development Plc (LPN) was confident it would close sales of two new projects within the next few weekends.
Sales of projects launched last weekend such as BKK Group’s The Coast were normal, say their executives.
LPN managing director Opas Sripayak said the political rallies over the weekend did not blunt the opening of its new projects’ registrations. For March 13 and 14, there were around 200-300 people a day visiting the project sites, better than expected.
“Currently, we have 7,500 registrations for booking a unit at both projects: over 5,000 for the Ratchayothin project and 2,500 for the Kluay Nam Thai project,” he said.
This coming Saturday, LPN plans to launch sales of the two projects to registered customers and expects to close sales on opening day if the political situation does not turn violent, said Mr Opas.
The 2.9-billion-baht Lumpini Place Ratchayothin will be located on a 13-rai site comprising four buildings with 1,827 units sized 28-30 square metres and priced starting at 1.45 million baht, or 52,000 baht per sq m on average.
Another project, the 1.5-billion-baht Lumpini Place Rama IV-Kluay Nam Thai will be located on a four-rai site on Rama IV Road with 887 units sized between 28-35 sq m carrying the same price as the Ratchayothin project.
Construction of both is expected to start in June this year and be completed by the end of 2011.
Property developer BKK Grand Estate Co Ltd, which is owned by automobile dealer BKK Group, also launched a condominium project in Bang Na last weekend.
Company president Rienchai Likitplug said the red-shirt protest had no impact on sales of The Coast Condominium held at Central Bang Na. The company reached its sales target of around 80 units.
To date, the company has sales of 60%, or around 250 units, with a sales value of about 1 billion baht from a total of 420 units for the first phase of its project.
“Customers continued to spend and got on with their life as usual,” he said.
After achieving 60% in sales, the company will focus on construction and plans to raise unit prices by 3% in April from the current 69,900 baht per sq m.
LPN shares closed yesterday on the SET at 6.80 baht, down five satang, in total trade of 17.7 million baht.
]]>0Administrator<![CDATA[Pattaya market to grow by 5% this year]]>http://metroparksathorn.com/htm/?p=46352010-03-15T16:19:22Z2010-03-15T16:19:22ZPattaya’s real estate and tourism markets will grow by 5% and 10%, respectively this year, regardless of the political situation, says Jugkarut Ruangratanakorn, vice-president of Ratanakorn Asset Co Ltd, a property firm in the seaside resort city.
The Pattaya real estate market slowed last year and will remain sluggish in 2010 because of political tensions, he said. But he expects the market to recover from 2011 to 2014.
Pattaya real estate hit a trough last year after enjoying annual growth of between 10% and 15% from 2004 to 2008.
Tourism has also struggled because of the global recession and concern about Thailand’s political strife. Tourist arrivals to Pattaya dropped by 22% last year and revenue from tourism sank by 35% because of lower spending per head and shorter stays.
Property and tourism in Pattaya still face many risks, Mr Jugkarut said. Hotel occupancy could fall by more than 40% due to an oversupply in hotel rooms. The property market also remains heavily dependent on foreign demand, while foreigners’ buying power has been hit hard by the baht’s strength.
The condominium market faces an oversupply that will take from three to six years to absorb, while property is overpriced and exceeds demand, he said.
Another risk is a lack of confidence. Buyers fear projects may be suspended. Purchasers may also be unable to complete payments.
“You should maintain a debt-to-equity ratio at 50:50. A loss is better than lack of liquidity, especially in a crisis,” he added. “Developers need to be more careful about units that can be sold and completed but cannot be transferred.”
He said developers should sell when buyers want to buy and always be ready to adjust the plan when needed.
While size and capital are unimportant, familiarity with a location is a bonus.
Land accumulation is another advantage as it accounts for 30-35% of development cost. And networking is essential, he said.
“If property prices rise by 20-25% a year on average for five consecutive years, an exit strategy should be applied. This is a sign to step back. Remember that risk management should be always done.”
Mr Jugkarut said developers should develop their long-term competitiveness by building a strong product character, accumulating capital and prime land plots, expanding to other supporting businesses and establishing expertise in a specific product or market. “For Pattaya real estate, treasure is waiting ahead,” he said at a seminar held by Real Estate Information Centre last week.
“But if you reach out for it today, you may get hurt. [You should] wait for a right time. Investors and developers should know its [Pattaya real estate's] life cycle. 1997-2000 was its bottom, 2001-04 was a recovery and 2005-08 was a boom.”
If investors are interested in the Pattaya property market, they should know the buyer profiles. Most of the city’s property buyers are foreigners from 15 or 20 countries.
“Foreigners from each country gather into a group, clearly reside in a separate zone and don’t live outside the zone,” he added. “For example, Russians live in Wong Amat, Germans live in Na Klua and British live in Khao Pra Tamnak.”
They also prefer to buy property from companies from their countries or from salespeople who speak their languages.
“You also need to understand the financial conditions and economies of their countries while your products must be customisable.”
]]>0Administrator<![CDATA[High-speed train work to start next year]]>http://metroparksathorn.com/htm/?p=46302010-03-12T16:30:38Z2010-03-12T16:30:20ZConstruction could begin next year on Thailand’s first high-speed train network, says Deputy Prime Minister Trairong Suwannakhiri. The first route planned in the 800- billion-baht programme would be a Bangkok-Rayong line, he said at an investment conference yesterday.
“I expect the [Abhisit Vejjajiva] government to stand until next year, when we will begin work on this project. It will be a programme that will serve the public for the next three or four decades,” Dr Trairong said.
The government envisions investing up to 800 billion baht from 2011 to 2032 in four high-speed routes linking each region with Bangkok, covering 2,000 kilometres of new track. Once the lines are complete, access to all corners of the country would be possible from the capital in less than five hours.
The Transport Ministry is to propose details of the investment plan to the cabinet within 60 days. Investment will be managed through public-private partnerships (PPP).
Tentative plans have allocated 56 billion baht for the Bangkok-Rayong route, 247 billion for a route from Bangkok to Padang Besar on the Thai-Malaysian border, 180 billion for a Bangkok-Nong Khai route in the Northeast and 210 billion for a Bangkok-Chiang Mai route.
Dr Trairong, who chairs a PPP committee for the Thai Khem Khaeng megaproject programme, said Rayong was picked as the priority as it was the least expensive and shortest of the four.
The Rayong route would also help support tourism and industry along the Eastern Seaboard.
“Another factor is that for the past 30 to 40 years, Rayong residents have had to bear the burden of industrial development in the region. We should now give something back to the community,” he said, adding that the high-speed train will cut travel time to Bangkok to less than one hour compared with more than three hours now by car.
He said top suppliers from Germany, France, China and Japan would be invited to bid for contracts.
Fare rates meanwhile would depend upon negotiations with private operators, although officials expect fares to the Malaysian border or to Chiang Mai to be set at around 1,000 baht per passenger with the Bangkok-Rayong route priced at around 300 baht.
Meanwhile, the State Railway of Thailand is moving forward with its own plans to improve existing rail track and crossings, procure new engines and carriages and lay another 764 km of double-gauge track by 2014. Out of the total of 170 billion baht budgeted for the programme, 4.6 billion in new investment will come this year.
Railway improvements are considered critical to help reduce logistics costs and lift the country’s overall competitiveness. By 2024, the SRT hopes to lay another 3,039 km of track to complement nearly 4,000 km now, with the country’s logistics expenses targeted to fall to 13% of GDP from 19% now.
]]>0Administrator<![CDATA[Magnolia targets B1.6bn sales]]>http://metroparksathorn.com/htm/?p=46272010-03-12T16:25:35Z2010-03-12T16:25:35ZMagnolia Quality Development Corporation (MQDC), a property subsidiary of the agribusiness giant Charoen Pokphand Group, plans to enter the mid-priced housing market in the second half of the year, says managing director Visit Malaisirirat.
The company is now negotiating to buy a land plot to develop a single-house project worth at least 800 million baht, likely in the Rangsit area, as MQDC wants to preserve a Bang Na location for its high-end Baan Magnolia project.
Mr Visit is confident the company will complete the acquisition in the first half of the year and be able to launch the project in the second half, in time to generate realised revenue this year.
The company is hoping to achieve 1.6 billion baht in sales from its planned single-house project and the recent launch of its Whizdom @ Punnavithi Station condominium as well as villas for sale in Khao Yai to be launched in the fourth quarter.
The Khao Yai villas will also have a boutique hotel and resort at the same location. The 300-million-baht project will have around 50 rooms to welcome guests next year and nine villas for sale.
MQDC recently offered about 230 units at two new buildings of the Whizdom project, worth about 800 million baht. It has 50% of the units remaining at sizes starting from 34 square metres and prices from 1.89 million baht.
Mr Visit believes the company will earn 1.2 billion baht in revenue this year from the transfer of units in Whizdom’s first buildings, some of Baan Magnolia and the new planned single-house projects.
]]>0Administrator<![CDATA[A unique offer of a fully furnished, two bedroom condo (74 Sq. metres), at the unbeatable price of just 2.8 million baht.]]>http://metroparksathorn.com/htm/?p=39812010-03-16T16:30:56Z2010-03-11T15:10:31ZThis is the last chance to save money in buying condo, before the perks end.
The tax incentives which will end the property rights transfer fee from 2 per cent to 0.01 per cent, a cut in the mortgage registration fee from 1 per cent to 0.01 per cent and the reduction of the special business tax from 3.3 per cent to 0.11 per cent. So this is the last chance to save a lots of money. The perk will end on 26th of March 2010.
Transfer Fee: Before 26th March= 560 Baht and After 26th March = 56,000 Baht.
RegistrationFee: Before 26th = 280 Baht and After 26th = 28,000 Baht
Special Business Tax: Now 3,080 Baht and Later 92,400 Baht.
Total saving is 176,000 Baht.This is the last unit available at Metropark Sathorn at this price, at just 38, 000 baht per square meter, as opposed the normal asking price of 48, 000 baht, which would total 3.5 million baht, instead of the asking price for this property of just 2.8 million baht.
The 74 square metre condo is located on the ground floor, at Phase 1, Building J, and is fully furnished with SB Furniture. It is open at two sides, ensuring your privacy. Its location is quiet, peaceful and free from traffic noise.
]]>4Administrator<![CDATA[Lands Department staying open weekends for tax breaks]]>http://metroparksathorn.com/htm/?p=46162010-03-11T13:41:47Z2010-03-11T13:41:47ZOffices of the Lands Department will be open on weekends until the end of the month to help consumers complete last-minute property transactions before the expiration of preferential tax rates on March 28, the Interior Ministry said yesterday.
After March 28, mortgage fees for property transactions will increase to 1% of the property’s value from 0.01%, with transfer fees rising to 2% from 0.01%. Specific business tax will increase to 3.3% from 0.11% previously.
The weekend services will be available on March 13-14, 20-21 and 27-28.
The department will ensure that as long as someone submits documents by 4.30 pm on March 28, it will finish the process within that day, said Trairak Tengtriratan, an adviser to the Finance Minister.
]]>0Administrator<![CDATA[BKK holds sales event despite rally]]>http://metroparksathorn.com/htm/?p=46142010-03-11T13:39:58Z2010-03-11T13:39:58ZThe property developer BKK Grand Estate Co, owned by the automobile dealer BKK Group, is confident political turmoil will not dent brisk sales at its condominium sales event from Friday, said president Rienchai Likitplug.
“We have experience in such political crises,” he said. “On the opening of the BKK Group in 1993, we faced the aftermath of Black May, so as a new face in property sector, we need to continue marketing through all channels – below and above the line.”
From this Friday until next Wednesday, the company will be holding a sales event for The Coast condominium at Central Bang Na mall – even though red-shirt groups have announced plans to stage a rally at the Bang Na intersection over the weekend.
To build confidence among buyers, BKK is offering guaranteed refunds of down payments plus 10% interest to any customers who decide to return their units.
Some customers have already booked units after viewing an advertisement last Friday, which has generated presales of 20 units.
Since BKK launched the first phase of The Coast condominium in late November 2009, with 412 units priced from 2 million baht, the company has achieved 40% in sales. The company now expects to close sales for the first stage at the event at Central Bang Na.
Most customers have been Bang Na residents, said Mr Rienchai. About 60% of the buyers are local residents buying for their own residence, 15% local residents buying as an investment, 10% are expatriates and the others are purchasing for inheritance purposes, he said.
The Coast condominium will occupy an eight-rai site on Sukhumvit Road near Bang Na junction. It will have 829 units worth about 4 billion baht and a two-storey shopping complex with a rentable area of 5,000 square metres, managed by the company.
Construction is due to start in June and is scheduled to be completed in the next two years. Siam Commercial Bank has granted a project loan of about 1 billion baht. By the end of the year, the company plans to launch the second phase of the project with an increase in unit prices.
With registered capital of 100 million baht, BKK plans to develop two or three projects a year. The group has 15 land plots in Bangkok, including a five-rai plot on Rama IX Road near the MCOT junction where it sees high potential.
]]>0Administrator<![CDATA[The Bangkok Condos.Com]]>http://metroparksathorn.com/htm/?p=46052010-02-26T15:11:17Z2010-02-26T15:08:13ZPlease visit www.thebangkokcondos.com
]]>0Administrator<![CDATA[Supply likely to mute price rise]]>http://metroparksathorn.com/htm/?p=46002010-02-26T15:02:22Z2010-02-26T15:02:22ZThe average prices of newly launched condominium units this year will not rise significantly after the tax breaks end as they need to compete with resale units available in the market, says Apisit Limlomwongse, managing director of Nexus Property Consultants Co Ltd.
“It’s up to the market to determine how much the prices can rise,” he said. “Now there are a large number of resale units in the market and about 20% of the units launched earlier have not yet been taken up. Their prices are competitive, compared to new ones.”
Atip Bijanonda, the Thai Condominium Association president, said on Tuesday after the cabinet decided to terminate the property tax incentives that condominium prices would increase by 8% on average as a result.
However, Mr Apisit said the 8% increase could not be regarded as the market average as the price adjustments would vary depending on locations. Locations highly in demand in Soi Ari in the Phahon Yothin area and Soi Prom Phong, Thong Lor and Ekamai on Sukhumvit Road may command much higher prices.
Longlom Bunnag, chairman of Jones Lang LaSalle Thailand, also agreed that some developers, particularly those selling in highly competitive or price-sensitive markets, might find it difficult to increase the prices and would need alternative strategies to keep margins.
After Nexus recorded sales of 250 million baht from resale condo offerings at the House & Condo fair it held last weekend, it launched another fair focusing on resale condos along the mass transit lines, to be held until this weekend at CentralWorld in Bangkok.
The fair offers 100 projects with 1,200 resale units owned by individual investors. About 70% of them are ready for transfer by March 26, the last working day for the property tax breaks. Around 20% have tenants in units located on Sukhumvit, Sathon and Silom roads. Nexus expects sales of 300 million baht or about 100 units from the fair.
About 10% are units with attractive prices as the owners do not want to get unit transfer or are unable to get housing loan approval. However, these owners still get a return on investment of at least 20%. “The prices the investors sell today rose by at least 5-10%, depending on locations and projects. But their returns can exceed 20% as all they have spent is only 10-20% of the down payments and not the whole unit prices.”
He said investors usually wanted to sell units before they are due to be transferred from developers. This is because they might face higher costs if they sell the units after the transfers.
“Without the property incentives, the cost might be as high as 10%. These include the special business tax, personal income tax, transfer fees both between developers and investors and between investors and new buyers, and mortgage fees.”
Mr Apisit said 2009 was the most sluggish year for the company as it was a first year since the company’s establishment in 2001 that it recorded a contraction in earnings of about 60 million baht. At the same time, it recorded sales of 2.4 billion baht, lower than the target of 3.5 billion and the 4 billion recorded in 2008.
]]>0Administrator<![CDATA[No more support for property sector]]>http://metroparksathorn.com/htm/?p=45942010-02-23T16:35:09Z2010-02-23T16:35:09ZThe cabinet has decided not extend the term of tax incentives to the property development sector, which ends on March 28, Deputy Finance Minister Pradit Phataraprasit said on Tuesday.
He said the tax break had helped property development and real estate companies boost profits and the number of property rights transfers had increased by 10 per cent. It was believed the property development sector would continue to expand even with the end of the tax break.
Mr Pradit said the cabinet has agreed to extend the cost of living relief measures, which also end in March, to the end of June. However, the extension did not include the free tapwater programme.
The tax incentives which will end include a reduction of the property rights transfer fee from 2 per cent to 0.01 per cent, a cut in the mortgage registration fee from 1 per cent to 0.01 per cent and the reduction of the special business tax from 3.3 per cent to 0.11 per cent.
The cost of living relief measures to continue are free rides on some public buses and some third-class train carriages, free electricity for low-volume users and a freeze on the price of cooking gas.
]]>0Administrator<![CDATA[Condos for rent & sale at Metropark Sathorn Bangkok ให้เช่า/ขาย คอนโด เมโทร พาร์ค สาธร]]>http://metroparksathorn.com/?p=7072010-02-22T14:46:51Z2010-02-19T15:05:13ZWide range of rooms available for rent and sale. There are three types of rooms.
1. Studio 31 to 34 Sqm. Monthly rent from 7,000 to 9,000 Baht. Selling price is from 1.2 Million Baht to 1.4 Million.
2. One bedroom 41 to 44 Sqm. Monthly rent from 11,000 to 13,000 Baht. Selling price is 1.7 Million to 1.9 Million Baht
3. Two bedroom 56 to 76 Sqm. Monthly rent from 14,000 to 17,000 Baht. Selling price is 2.5 million to 3 Million Baht
All three types of condo are available either unfurnished, semi-furnished, furnished or fully furnished. The rental/selling price depends on the location of the condo within the complex, and whether the condo is furnished or unfurnished, etc.
Note:Some of the bellow listed condos are already rented, but we still have some more rooms. Mostly all the condos are furnished same way and looks same as in pictures. So you can have a complete idea by following listings.
Please call at 086-324-2456 (+668-6-324-2456)
( Please make an appointment, Prior to visit) (กรุณาโทรมานัดหมายล่วงหน้า ก่อนเข้าชมคอนโด)
]]>3Administrator<![CDATA[Incentives not a basis to buy]]>http://metroparksathorn.com/htm/?p=45582010-02-19T14:56:46Z2010-02-19T14:56:46ZHomebuyers should consider interest rates and their capability to get a housing loan before they buy a house rather than the extension of property incentives, says Khan Prachuabmoh, the president of the Government Housing Bank (GH Bank).
“The incentives like reduction of transfer fees are just a part of the decision-making process for a home purchase. Even if the incentives are not extended past late March, home buyers will still get low interest rates on a purchase, though rates look to increase in the future,” he said.
He added that incentives are given only at the time of purchase, but an interest rate is a long-term commitment that consumers have to pay. GH Bank will not raise interest rates in the first half of this year, but may consider an increase in the third quarter, he said.
“Homebuyers should make a decision based on their ability to pay off a home loan. They should not assume or wait with the hope that incentives will be extended,” he said.
Mr Khan foresees a healthy outlook for the property market from now until late March, when the incentives are set to expire. The bank expects to release housing loans of less than 20 billion baht in the first quarter of this year, similar to the same period last year.
The Fiscal Policy Office is preparing relevant data related to the property industry to help the Finance Ministry decide whether to extend the incentive period.
“Some incentives do not benefit the country’s economy. If there’s an extension, only some incentives should be included,” he added.
Atip Bijanonda, president of the Thai Condominium Association, said association representatives would meet the deputy finance minister to show him how real estate affects the overall economy.
“Today the property market is moving along a horizontal line. It can be moved forward with a little effort. But without help, it will become tiresome to push,” he said, adding that property figures the first two months of the year were in good shape.
Three real estate associations yesterday opened the 22nd House & Condo Fair at the Queen Sirikit National Convention Center yesterday. It runs until Sunday, with 150 property firms featuring about 600 projects.
Promotions designed to rush potential homebuyers into decisions, including cash discounts, free furniture and home appliances are being offered. Most are ready-to-transfer residential units.
]]>0Administrator<![CDATA[Property Perfect plans B17bn in projects]]>http://metroparksathorn.com/htm/?p=45472010-02-19T13:53:08Z2010-02-18T16:09:02ZProperty Perfect plans B17bn in projects
The listed developer Property Perfect Plc (PF) plans 14 new projects worth a combined 17 billion baht this year, says chief executive officer Chainid Ngowsirimanee.
‘‘Possible political problems on Feb 26 are likely to have less impact on the property market than the expiration of property incentives on March 26. . . . If the incentives are not extended, the market in the second quarter will be sluggish,’’ says Mr Chainid. WISIT THAMNGERN
The company has also set its sights on expanding into major tourist destinations with the aim of annual revenue topping 10 billion baht within the next three years.
“If we want our revenue to exceed 10 billion baht, we need to go outside Bangkok and enter provinces nationwide,” he said. “The property market in the provinces is interesting and only a few developers have entered it.”
PF is considering Chiang Mai as it first upcountry destination where it plans to develop a condominium project worth 700 million baht under a new brand, Uniloft.
The project, to be located on an eight-rai site near Chiang Mai University, is scheduled to launch in the second quarter. The 700 units will be priced about one million baht each. PF also plans to put some units into a property fund worth about 500 million baht.
The developer is looking at other destinations including Phuket, Chon Buri and Nakhon Ratchasima.
Besides Uniloft, PF will launch a new townhouse brand, Villa. Units will be priced from 1-3 million baht each to enable the company to cover all market segments.
PF’s new projects this year comprise four single-detached house projects, five townhouse projects and five condominiums, three under the Uniloft brand.
The developer has set a presales target of 12 billion baht for the year and 10 billion baht in revenue, up from 7 billion baht in 2009.
Currently, it has a sales backlog of 2 billion baht to be realised this year.
“Possible political problems on Feb 26 [the verdict date in the Thaksin assets case] are likely to have less impact on the property market than the expiration of property incentives on March 26,” he said.
“If the incentives are not extended, the market in the second quarter will be sluggish.”
Mr Chainid said the government might review the political situation on Feb 26 and its aftermath before deciding on whether or not to extend the tax breaks.
The only incentives likely to be extended will be the reduced transfer and mortgage fees, he said.
PF and other developers that are concerned that the incentives will not be extended have been offering stronger promotional campaigns to lift sales before the end of March.
Housing prices would rise by 5% if the incentives were not extended, he said.
“We are very aggressive this year and aim to grow by at least 30% each year over the next three years with annual revenue reaching 20 billion baht,” he said.
“We can achieve that as we will develop new projects on our existing land plots worth a total 3 billion baht which are located near the future mass-transit routes.”
The company plans to spend 2 billion baht to acquire new land plots this year and 2.5 billion baht each year from 2011-16.
PF plans to issue debentures worth 1.5 billion baht with a three-year maturity next month to increase liquidity. It also wants to reserve one billion baht in liquidity at all times. Its current debt-to-equity ratio of one time is targeted to drop to less than 0.8 within the next three years.
Five local banks yesterday joined with Property Perfect to offer special promotions to new home buyers. The “Perfect Card” will offer special mortgage rates with credit lines of up to 120% of the home price for customers through the Government Savings Bank, Krung Thai Bank, TMB Bank, Siam City Bank and CIMB Thai Bank.
]]>0Administrator<![CDATA[Developers ramp up stimulus promotions]]>http://metroparksathorn.com/htm/?p=45432010-02-19T13:53:54Z2010-02-18T15:50:42ZProperty developers are launching promotional campaigns to lure buyers before stimulus tax breaks expire in March.
Promotional giveaways include one million air miles for Thai Airways International, gold bars and package holidays.
Tax breaks for buyers and developers consist of lowered transfer and mortgage fees to 0.01% from 2% and 1% respectively, and cut the special business tax to 0.1% from 3.3%, expire March 26.
Buyers of The Surawong condominium, a joint venture between Chewathai Co and United Motor Works (Siam), are being offered 1 million THAI air miles per unit sold plus a 100,000-baht cash discount. The campaign runs until March 12.
Other promotions are being offered at the 22nd Housing and Condo Festival at the Queen Sirikit Convention Center that runs tomorrow through Sunday.
Fragrant Property Co is offering a one million baht deposit, or a top up of 40,000 to 50,000 baht a month under its rental guarantee scheme for two years, for buyers of fully furnished penthouses at its The Prime 11 condominium on Sukhumvit 11.
The first 10 buyers at its 4-billion-baht Circle project on New Phetchaburi Road will receive discounts worth up to 200,000 baht.
At the fair, Pacific Star International (Thailand) is offering buyers of its Sathorn Gardens condominium fully furnished units and other sweeteners such as a free BlackBerry Bold handset and free utility bills for a year.
L.P.N. Development Plc is offering cash discounts or gifts worth up to 90,000 baht for buyers at several of its condominiums. People purchasing ready-to-occupy units can obtain discounts ranging from 10,000 to 50,000 baht.
Sansiri Plc is teaming up with Siam Commercial Bank and Kasikornbank to offer special mortgages for 170 buyers of residential units at 25 of its projects until March 26.
Siam City Bank is offering home loans with variable interest rates.
]]>0Administrator<![CDATA[Tararom ready to offer mortgages]]>http://metroparksathorn.com/htm/?p=45402010-02-19T13:54:51Z2010-02-18T15:46:42ZThe property developer Tararom Enterprise is ready to offer mortgage loans to buyers of its housing units after being qualified by Secondary Mortgage Corporation (SMC), said managing director Wasant Kiangsiri.
The company was interested in providing the mortgage service as its financial status was strong, with a low debt-to-equity ratio at 0.3 times and available credit line of 2.3 billion baht for future project development, he said.
“We are one of the 18 non-listed property developers qualified to lend since we met the criteria set by the SMC,” he said. “We will offer as many housing loans as we can afford.”
The Financial Institutions Act 2008 allows property developers to provide mortgage services so long as they do not raise funds from the public.
For its part, the SMC will support the housing market by purchasing housing loans from qualified property developers. Besides the 18 non-listed developers, 27 listed companies got the green light.
“The SMC will issue bonds to raise funds and will buy housing loans from us and other developers. That way, our capital will be freed up, allowing us to make new investments or lend more,” said Mr Wasant. “We need to wait for details, conditions and guidelines to be announced by the SMC.”
He added that the company had no need to raise funds from the stock market, which could reduce its return on equity.
Commenting on whether the property tax incentives would be extended, Mr Wasant said Tararom would make a few adjustments if the incentives were extended. But if not, the company would develop more pre-sales houses than pre-built ones.
“The end of the incentives will reduce home purchasing power,” he said. “Presold houses will come back as homebuyers don’t need to rush their decision-making to take advantage of the incentives.”
The company also plans to join homebuilders to sell plots from its land bank in prime locations within existing projects. Its allied homebuilders will offer to build units priced higher than 8 million baht for this group of customers. Initially, there will be 30 plots sized from 80-100 square wah priced around 30,000 to 40,000 baht per square wah.
He said housing prices this year would definitely increase by 5-8%. About 4% would be from the possible end of the incentives and the rest from an upward trend in interest rates and oil prices.
]]>0Administrator<![CDATA[Promotions target end of tax incentives]]>http://metroparksathorn.com/htm/?p=45352010-02-19T13:55:29Z2010-02-18T15:41:47ZKorn warns that perks must be reviewed
Property developers are preparing strong campaigns to push homebuyers to commit before the current property tax incentives end on March 26.
Developers have responded to comments from Finance Minister Korn Chatikavanij yesterday that incentive measures must be reviewed.
“People wanting to buy a house during this time should not wait until the last day. They should make a decision right away. There is no need to explain what I mean,” he told a seminar.
In Mr Korn’s view, these measures were introduced during economic crisis so they should be reviewed now that the country has emerged to a recovery stage to maintain discipline and create fairness for other industries that received no tax benefits.
The incentives have reduced the transfer fee to 2% of the appraisal price and cut the mortgage fee from 1% down to 0.01%, while the special business tax is down from 3% to only 0.1%.
Issara Boonyoung, managing director of property developer Kanda Group, said the company would extend its promotions for the House & Condo Fair until the end of March if the incentives were not to be extended.
“If the government does not extend the incentives, we need to revise construction costs and housing prices in the second quarter,” he said.
Currently, the company has 200 pre-built houses worth 400 million baht from seven projects ready to be transferred by March 26.
Kanda plans to offer big discounts of up to 1.5 million baht a unit – along with free furniture and home appliances as well as a waiver of transfer fees – to customers committing at the fair, held from Feb 18-21 at Queen Sirikit National Convention Center.
Kessara Thanyalakpark, director of the listed developer Sena Development Plc, said the company would use attractive promotions although it would require an investment in marketing.
“It will be worth spending more on marketing to sell the units and transfer them before the incentives expire,” she said. “We can save 4.3% if the units can be sold within that period.”
In her view, the government should extend the incentives as they could create a multiplier effect for other sectors. The company has 70 units worth between 200 million and 300 million baht to transfer by March 26.
“If there is no extension, we will rush construction,” she added.
Sena this year plans to launch seven projects worth a total of 4 billion baht. It targets 1.7 billion baht in presales and 1.5 billion in revenue this year.
The company will spend 700 million baht to buy new plots of land, including one of 100 rai for developing low-rise units over four years.
“Though other developers are tending to scale down project size, we see an opportunity in this plot as we are familiar with the location,” she said.
Buying many plots during an upward trend in interest and inflation will be beneficial in the long run as land always appreciates in price, she added.
SENA shares closed yesterday at 1.88 baht, up one satang, in trade worth 1.2 million baht.
]]>0Administrator<![CDATA[Property perks likely to continue]]>http://metroparksathorn.com/htm/?p=45322010-02-19T13:56:01Z2010-02-18T15:37:44ZIncentives may only benefit homebuyers
Property developers are confident the government will continue tax incentives for the real estate industry that were set to expire in late March.
The Finance Ministry is likely to seek cabinet approval soon for an extension, said Atip Bijanonda, president of Thai Condominium Association.
Speaking at a seminar organised by three real estate associations yesterday, Mr Atip said the extension would improve the overall economy though the government may only extend incentives that benefit homebuyers, such as mortgage and transfer fee reductions.
The Finance Ministry considers that the special business tax incentive only benefited developers, he said.
But Issara Boonyoung, president of the Housing Business Association, said the government should extend the whole package of incentives as developers are likely to pass costs to home buyers if they do not benefit from a reduction in the special business tax.
Kiat Sittheeamorn, president of the Thailand Trade Representative Office (TTR), said the government should consider extending the tax incentives for the property industry, as the sector contributes to other businesses and creates a multiplier effect.
The market value of real estate is about 900 billion baht each year – about 10% of gross domestic product – and it creates 3-4 million jobs a year from all related industries, he said.
The issue of extending incentives has been discussed for a while. Both developers and consumers have sought an extension while the government expects the measure to cause it to lose revenue. It is already clear that there will be no extension of a 300,000-baht deduction from taxable income for home-buyers, which ended last year.
But some large developers oppose an extension of the special business tax break, as it would reduce their competitive advantage over smaller developers.
Mr Kiat said the government should also support overseas investment by Thai developers. Currently, the industry’s foreign investment totals about 20 billion baht, a much lower figure than for other industries, partly due to problems related to the cost of funding.
Libya has demand for about 100,000 residential units so some Thai contractors have entered the market but they failed to secure business due to difficulties over bank guarantees.
In the near future, TTR will lead members of three property associations to seek investment opportunities in Bahrain, where there is demand for about 45,000 residential units at an average price of about 5 million baht each. Bahrain also plans to develop two new boutique hotels, projects for which Thai companies may bid.
The TTR will join with foreign chambers of commerce and the Lands Department on expanding the foreign ownership quota in condominium projects from the current 49% of all usable spaces for all developments nationwide. Upon conclusion a proposal will be submitted to the Interior Ministry.
TTR will also seek an amendment of the Lands Department’s regulations to enable a provision in the first leasehold agreement for two automatic extensions of 30 years each.
Mr Issara said the issue of environmental impact assessment (EIA) is still a challenge for property development this year. “The Office of Natural Resources and Environment Policy and Planning requires residential projects to conduct health impact assessment, in additional to the EIA, like what is required by other industries,” he said.
Mr Atip wants to see construction start quickly on the first three mass transit routes: Purple, Blue and Green.
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