The Housing Loan Association has announced the success of the event "Home-Loan-NPA Grand Sale 2022" with expected sales and loan requests totaling over 5.4 billion baht. The event attracted more than 33,000 visitors both online and onsite, indicating a resurgence in demand for second-hand condos following rising oil prices. Meanwhile, the demand for residences priced below 3 million baht remains strong.

Mr. Kitti Patthanapongpipat, Chairman of the Housing Loan Association revealed that the association organized a marketing event to promote the sale of Non-Performing Assets (NPA) from banks, financial institutions, and asset management companies under the name "Home-Loan-NPA Grand Sale 2022," which concluded in mid-July. The event was deemed a success, with total NPA sales reaching 1 billion baht and loan requests during the event totaling 800 million baht.

"We expect total sales from customers who attended both online and onsite, and later made decisions, to be no less than 3.215 billion baht, with total loan requests reaching 2.262 billion baht, bringing the total to over 5.4 billion baht. This is due to factors that will expedite consumer decisions, such as the anticipated rise in interest rates, the measure to reduce transfer and mortgage fees to 0.01%, which will ease the burden on buyers by nearly 30,000 baht per million, and NPA prices being 20-30% lower than new homes," he added.

This year's event was the first to be held in a hybrid format, combining an online 3D Virtual Exhibition and onsite activities. The overall response was significant from those interested in purchasing second-hand properties classified as NPA, even amidst the easing of the COVID-19 pandemic. The onsite attendance reached 6,318 people, while online visitors numbered 27,000.

 

In total, the event attracted over 33,000 visitors, with 57.4% female and 42.6% male. The majority age group of attendees, 28.4%, was between 35-44 years old, followed by 27.6% aged 25-34 years. These two age groups represent those looking to purchase homes to start and expand their families, accounting for a combined 56%. Meanwhile, 16.3% were aged 45-54, and 14.5% were between 18-24 years old.

Regarding the types of residences that attracted interest, 33.7% were condominiums, 28.2% single-family homes, 25.8% townhomes, and 12.3% duplexes. It is notable that the demand for condominiums is returning as energy prices remain high, while single-family homes and townhomes continue to be sought after. This trend is a result of the COVID-19 pandemic, which has increased the demand for living space in homes, leading to a rise in interest in single-family residences.

In terms of price levels, the most sought-after residences were those priced between 1-2 million baht, accounting for 32%. The second most popular were properties priced between 2-3 million baht at 22%, followed by those priced between 3-5 million baht at 18%. Residences priced between 5-7 million baht made up 10%, while those below 1 million baht accounted for 9%. It is noteworthy that properties priced below 3 million baht still represent a significant market share of 63%.

Interest in properties priced below 2 million baht accounted for 41%, aligning with data from the Real Estate Information Center of the Government Housing Bank, which indicates that demand for second-hand homes priced below 2 million baht is the highest. This is due to the limited supply of new homes at this price point, driven by rising land and construction costs, making second-hand homes a viable option for those seeking properties under 2 million baht.