The Home Builder Association (HBA) celebrates its 20th anniversary by announcing a new strategy under the concept of 'HBA Sustainable Model.' They are gearing up for the 'Home Building and Materials Expo 2024,' which promises to be a grand event with double promotions, including an additional 20 satang interest rate discount exclusively for bookings made at the event! Attendees will also have the chance to win 20 gold prizes worth over 530,000 baht. The expo will showcase over 1,000 new house designs at special prices, along with a tax deduction measure for home construction of '10,000 baht per million,' aiming to boost consumer confidence and expedite home construction decisions. The goal is to achieve 4.5 billion baht in bookings during the five-day event, expecting 15,000 visitors from September 18 to 22, 2024, at Impact Hall 6, Muang Thong Thani.

Mr. Olar Chanphu, President of the Home Builder Association (HBA), stated that the journey over the past 20 years since its establishment in 2004 has been driven by a commitment to elevate the standards of the home building industry to be recognized by the government, private sector, and consumers. Under the vision of 'The home building business will be a trusted professional for consumers,' the association has achieved widespread recognition and success, ready to move into its 21st year with the new vision of 'HBA Sustainable Model.' This includes building consumer confidence through the creation of a standard construction manual for residential homes, quality screening for member companies, and enhancing the capabilities of 124 member home building companies nationwide. The association aims to foster collaboration with the government, private sector, and partners to elevate the overall home building market while developing professionals in the field to strengthen and sustain the business.

In addition to celebrating its 20th anniversary, the association is preparing for the special event 'Home Building and Materials Expo 2024' under the theme 'If you want to build a house, you must come to this event' from September 18 to 22, 2024, at Impact Hall 6, Muang Thong Thani. This annual event will offer numerous special deals beneficial for consumers planning to build a home and those in the decision-making process. Attendees who book home construction at the event will receive an additional 20 satang interest rate discount from the regular loan rate (subject to bank conditions) and 100% home construction loans from six leading banks, along with over 20 construction material manufacturers and suppliers, and experts providing consultations for those planning to build on their own land, making the home building process easier.

This is the only event that brings together leading home building companies from across the country, offering new house designs, comprehensive services, and special promotions directly to consumers planning to build on their own land. Additionally, the association collaborates with business partners, including construction material companies and financial institutions, to fully commit to making the Home Building and Materials Expo 2024 meet the needs of those planning to build new homes. Mr. Olar added.

In the first half of 2024, the market contracted, with the value of home construction orders decreasing by 15%.

The overall home building market in the first half of 2024 has slowed down, with total signed contracts for home construction valued at 4.505 billion baht, a decrease of approximately 15% across all price levels compared to the first half of 2023, which had total signed contracts worth 5.3 billion baht. This reflects the economic downturn and presents challenges for businesses amid economic volatility, with household debt reaching 91% of GDP. Furthermore, the consumer confidence index (average from January to July 2024) stands at 52.73%, while Thailand's overall GDP growth is only 1.5%, which is lower than neighboring regions.

The rising household debt has led to decreased consumer confidence, resulting in a delay in home construction decisions indefinitely. However, historical data from the home building market shows that the second half of each year is typically the high season for home building, making it a great opportunity to ramp up marketing efforts and encourage consumers to make quicker decisions. In addition to receiving discounts offered by home building companies, they will also benefit from reduced interest rates on home construction loans, along with numerous special offers at the Home Building and Materials Expo 2024. Mr. Olar stated.

As for the outlook for the home building market in the second half of 2024, the association is confident that the promotional factors at the 'Home Building and Materials Expo 2024,' along with the tax deduction measure for home construction of '10,000 baht per million' for those looking to build a home valued at 1 million baht, will encourage consumers and those planning to build homes to make decisions more easily.

The association aims for total signed contracts for home construction during the five days of the event to reach 4.5 billion baht, with an expected 15,000 attendees. This is anticipated to result in an overall home building market value of 12 billion baht by the end of 2024, with 65% of the market in Bangkok and its vicinity and 35% in other provinces.

Massive promotions, increased interest rate discounts, and a chance to win 20 gold prizes exclusively at the event!

Mr. Parinya Thaninthirakoon, Vice President of Special Activities at the Home Builder Association, stated that the association is preparing to stimulate purchasing power on a grand scale, presenting comprehensive services and over 1,000 new house designs. A highlight for customers who book home construction at the event is the chance to win gold bars totaling 20 prizes worth over 530,000 baht (conditions apply as specified by the association), along with special home construction loans from leading financial institutions.

Additionally, attendees will have the opportunity to listen to discussions from leading architects sharing their experiences and home building advice, along with experts in feng shui and energy-efficient home design. There will also be updates on home building news, technology trends, and construction materials, as well as direct consultations from home building experts to ensure that the construction meets consumer needs as closely as possible.

Moreover, there will be special promotions for customers who register online in advance at https://hba-th.org/home_expo2024, receiving a free e-Book “THE ULTIMATE HOME DESIGN 2024” featuring various house designs for every generation and lifestyle to inspire the realization of dream homes.

We look forward to seeing you at the 'Home Building and Materials Expo 2024,' the largest event for those looking to build a home, from September 18 to 22 at Impact Hall 6, Muang Thong Thani.