The housing market is slowing down amid the widening flood emergency as developers try to ward off potential damage to their project sites.
Opas Sripayak, the managing director of condominium developer L.P.N. Development Plc, said both home purchases and new project launches have slowed since widespread flooding began affecting vast swathes of Thailand. Continue reading Floods hit housing market
Bangkok Mass Transit System (BTSC), the skytrain operator and part of the SET-listed BTS Group Holdings, has revised up this year’s revenue and passenger growth forecasts to 20% thanks to the new On Nut-Bearing service and plans to add more four-car trains.
The company will pay 1.5 billion baht for five more four-car trains from China to serve the planned Wong Wian Yai-Bang Wa section. Continue reading More 4-car trains on BTS shopping list
As first-home programme spurs competition, buyers are urged to shop around for the mortgage plans that suit them best and to make decisions soon.
While many consumers are looking forward to reducing their taxable income by as much as 500,000 baht under the government’s first-time homebuyer programme, they can also expect to be wooed by banks offering special mortgage deals. Continue reading Home deals abound
The government’s first-home policy will help certain developers of almost 20,000 single houses priced from 3-5 million baht now available in Greater Bangkok, says the consulting firm Agency for Real Estate Affairs (AREA).
First-time homebuyers of units priced up to 5 million baht who buy from yesterday until December next year can deduct 10% of the price from their taxable income for five years. The measure has been criticised because it benefits mainly mid- to high-income earners. Continue reading Single house sales to gain
House association chief warns only rich will gain
The Finance Ministry will table a tax cut scheme for first-time home buyers to the cabinet for approval Tuesday offering a maximum 10% tax deduction on houses costing up to 5 million baht.
The 5 million baht ceiling is changed from the previous 3 million to help cover buyers of property in urban areas, Finance Minister Thirachai Phuvanatnaranubala said yesterday. Continue reading Govt pushes first-home tax cuts
Ananda Development Co Ltd believes the Udomsuk area will one day be like Thong Lor due to its link to main roads and the BTS, saying condominium prices along the extension line have increased by 25%.
Once the extension from On Nut to Bearing opened on Aug 12, sales in the location resumed, said CEO Chanond Ruangkritya. The extension comprises five stations along a 5.25-km stretch with an estimated 120,000 passengers per day. Continue reading Ananda: Udomsuk to be new Thong Lor
Deadlines to beat minimum wage hike
The listed contractor Pre-Built Plc (PREB) increased its revenue target by 25% and is speeding up construction work to reduce the risk of rising costs if the minimum wage is raised to 300 baht a day.
Managing director Wirot Charoentra said the new revenue target was 2.5 billion baht, up from 2.01 billion set earlier. He said the company expects consolidated revenue of 3 billion baht, up from 2.8 billion forecast previously and 1.93 billion in 2010. It recorded 1.5 billion baht in revenue in the first half. Continue reading Pre-Built in construction rush
With resale condominiums clustered along mass-transit lines in high demand by investors and end-users alike, the new housing broker The Agent Co, a subsidiary of Ananda Development Co, plans to add more to its portfolio on top of the parent’s Ideo projects.
Buyers of condos near mass transit are confident of above-average returns, says Mr Annop. Continue reading Resale condos lucrative for Ananda unit