G H Bank has successfully launched its first online auction for second-hand homes through the Application: G H Bank Smart NPA, a new digital service innovation, yesterday (July 29, 2020). The auction featured 7 new properties in excellent condition and prime locations in Bangkok and Samut Prakan, which had never been auctioned before. The starting bid was set at a maximum discount of 20% from the normal price. The response was positive, with 238 people registering to participate in the auction, resulting in total sales of 17.64 million baht.

 

         Mr. Chatchai Sirilai, Managing Director of G H Bank, revealed that on Wednesday, July 29, 2020, G H Bank conducted its first online auction for second-hand homes via the Application: G H Bank Smart NPA from 2:00 PM to 4:00 PM. Seven new properties in excellent condition and prime locations, which had never been auctioned before, were selected. These properties are located in the city center and near the BTS line in Bangkok and Samut Prakan, with starting bids reduced by up to 20% from the normal price.

         The auction attracted significant interest, with a total of 238 participants registering. Five properties were successfully sold, totaling 17.64 million baht. The property with the highest number of bidders was a 2-story single house with an area of 60 square wah in the Delight Bangna - Srinakarin project, Bang Phli District, Samut Prakan, which started at a bid of 3,360,000 baht and was sold for 3,520,000 baht.

         The highest-selling property was a 3-story townhouse with an area of 40 square wah in the Grand Design project, Don Mueang District, Bangkok, sold for 4,500,000 baht. Meanwhile, a 3-story townhouse with an area of 27.7 square wah in the Patio Srinakarin-Rama 9 project was sold for 4,260,000 baht, which was only a 20,000 baht increase from the starting bid.

         This means that the auction winners acquired their own homes at very reasonable prices, as the sale of new NPA properties in good condition typically does not offer any discounts. The other two sold properties were a 2-story townhouse with an area of 30 square wah in the Nara Town project, Prawet District, Bangkok, sold for 2,760,000 baht, and a 2-story townhouse with an area of 21 square wah in The Connect 27 (Suan Luang-On Nut) project, Prawet District, Bangkok, sold for 2,600,000 baht.

 

“This pilot online auction for second-hand homes through G H Bank Smart NPA is a new digital service innovation from the bank that has received a positive response from customers. The properties sold accounted for 71.43% of the total items auctioned, which is higher than the average sales ratio of 50% in traditional auctions held by the bank. The online auction system worked quickly and transparently, allowing for real-time price tracking by actual bidders. Auction winners will receive a QR Code to contact the bank for payment and contract signing within 3 business days after the auction, along with the option for a 0% down payment installment plan for up to 60 months or immediate loan application with a repayment period of up to 40 years,” Mr. Chatchai stated.

 

       To meet the demand of customers wishing to own homes in the New Normal era and not miss the next auction, G H Bank has scheduled to hold online auctions for second-hand homes through the Application: G H Bank Smart NPA once a month on dates corresponding to the month number, such as August 8, September 9, and October 10.

       Some properties will start bidding at prices reduced by up to 30% from the normal price, and the auction time will be reduced to 30 minutes for the convenience of participating customers.

       Interested individuals can inquire for more details or follow the bank's news at www.ghbhomecenter.com or www.ghbank.co.th or the Customer Service Center (Call Center) at 0-2645-9000 and the G H Bank Facebook Fanpage.

 

Thank you for the information: G H Bank