Hello to all readers of TerraBKK. I believe many of you are currently following the news about the Bank of Thailand's (BOT) strict measures on housing loan approvals, which will affect the purchase of a second home or condos priced at 10 million baht and above. This news has raised concerns among real estate investors looking to purchase properties for profit, as the central bank has tightened its lending policies. Under the new measures, customers wishing to buy a second home or condo must have a down payment of 20% of the property's value.

Today, TerraBKK will present three main reasons why you should hurry to decide on purchasing a condo before the end of this year. Let's take a look!

1. Buy Before the BOT's LTV Measure Increases Down Payment to 20% Effective April 1, 2019

This is the final stretch for those looking to buy a condo for personal use and for real estate investors who need to make a decision before the end of this year. Many are starting to worry about the BOT's strict lending measures that will affect the purchase of a second home or condo, as well as properties priced at 10 million baht and above.

The BOT has set the LTV (Loan to Value) ratio at 80%, down from the previous 90-95%. Under the new criteria, first-time buyers must pay a 20% down payment if they have not paid off their first mortgage for less than three years, or a 10% down payment if they have paid off their first mortgage for more than three years. For a third property, if the buyer still has outstanding loans on other properties, a 30% down payment is required.

For new residences priced at 10 million baht and above, first-time buyers do not need to make a down payment, but if they still have an outstanding loan on their first property and wish to buy a second one, they must pay a 20% down payment. For the third property and beyond, a 30% down payment is required as well.

This means that starting April 1, 2019, under the BOT's strict lending measures, both investors and those looking to buy their second home or properties priced at 10 million baht and above will need to have a lump sum for a down payment of 20-30% of the property's value. Importantly, projects will no longer offer 0% down payment promotions, as customers must pay the down payment before applying for a loan.

Although the deadline has been extended by three months, making a quick decision to buy during this final stretch of the year could be worthwhile for both personal residence and investment, as you can still purchase properties under the old criteria without needing a down payment.

2. Choose the Condo You Like, in the Right Location, at an Affordable Price

It's worth noting that choosing a condo today is much easier, as there are new condos and completed units available in every location in Bangkok, especially along the BTS and MRT lines. These options cater to various preferences, lifestyles, and budgets.

If you are looking for a good condo to live in and are ready to buy this year, go ahead and make that decision! As we know, land prices in Bangkok are currently rising by 5-10% each year, which means condo prices per square meter will also increase accordingly.

Therefore, by deciding to buy sooner, you can choose a condo in your desired location at a price that is still manageable. If you wait until next year, you will inevitably have to settle for a more expensive condo.

3. Take Advantage of Year-End Promotions

And now, what we have all been waiting for has arrived! During this final stretch of the year, real estate developers from nearly every brand are launching heavy campaigns and promotions, offering discounts, giveaways, and bonuses to boost sales as the year comes to a close.

For those who want a condo this year but are short on funds, today TerraBKK will introduce the best promotion of the year with “Zero Down Payment Promotion” from Ananda Development, featuring 10 ready-to-move-in condos near the BTS, with an incredible year-end promotion of “Zero Down Payment”—all costs at 0 baht!!! Plus, enjoy 2 years of free living, free contracts, and free transfer fees, starting from 2.3 to 8.8 million baht. Hurry and book on November 24-25 at the sales office of each project, and register for special privileges at http://bit.ly/2zshwVm.

Ananda is being very generous with this promotion! New customers can enjoy 2 years of free living, while existing customers can also benefit. For Ananda residents, simply refer a friend to purchase a ready-to-move-in project and receive 10,000 baht, while the friend who purchases will receive 5,000 baht. This promotion runs from today until December 15.

Opportunities like this don't come often! If you want a beautiful condo near the BTS with an unbeatable year-end promotion, hurry and check out the details at >> http://bit.ly/2zshwVm