August 17-20, 2017 at the Queen Sirikit National Convention Center

Revealing the Overall Market Outlook for the Real Estate Sector in the Second Half of the Year

     

(In the image from the left)

 

           Mr. Luesak Sukasem, Senior Executive Vice President of Krung Thai Bank, Mr. Kitti Patthanapongpipat, President of the Housing Loan Association, and Mr. Borisut Kasinpila, Managing Director of Home Buyer Guide Co., Ltd., attended the press conference for the Major Housing and Condo Fair and Yearly Loans from August 17-20, 2017 at the Queen Sirikit National Convention Center. Offering 0% interest for the first year on over 1,000 NPA properties ready for sale at special prices with discounts of up to 30%, totaling over 5.4 billion baht.

 

          Bangkok – August 9, 2017 – Krung Thai Bank is showcasing over 1,000 NPA properties valued at over 5.4 billion baht at the Major Housing and Condo Fair and Yearly Loans (NPA Grand Sale 2017) from August 17-20, 2017 at the Queen Sirikit National Convention Center. The bank has selected prime properties from across the country to be sold at special prices with discounts of up to 30%, offering 0% interest for the first year and a transfer fee of only 1%. Additionally, the bank revealed the investment trend in the real estate market for 2017, indicating that the market remains favorable for buyers who can easily choose properties suitable for investment. The bank has launched the “New NPA Fast and Easy” program, highlighting the potential of the properties, pricing, and locations available nationwide, while providing special conditions and convenient services for all customer groups, aiming for sales of 8.5 billion baht by the end of the year.

 

          Mr. Luesak Sukasem, Senior Executive Vice President of Krung Thai Bank, stated: “The overall housing loan and investment market shows that although the Thai economy is signaling improvement, especially in exports, retail loans remain relatively stable, particularly housing loans, due to the ongoing pressure of high household debt. In the first quarter of 2017, gross NPLs increased by 19.9 billion baht or 7.28%, while the NPL ratio rose to 3.44% due to the slow recovery of the economy, which has not yet spread across all sectors.”

 

          Furthermore, the overall real estate market in the second half of the year shows that domestic purchasing power has not yet recovered, leading to an increase in NPA properties held by commercial banks, which aligns with the rising rate of non-performing loans (NPLs). This is partly due to the new land and building tax law that the government plans to enforce by January 1, 2019, replacing the current two laws: the Land and Building Tax Act of 1932 and the Local Maintenance Tax Act of 1965, which will further increase the volume of NPA properties. “Krung Thai Bank has therefore devised strategies and launched the “New NPA Fast and Easy” program to expedite the reduction of new NPA volumes, aiming to sell properties faster to reduce holding burdens. New properties will have set conditions and sale prices allowing customers to submit purchase offers immediately without waiting for the bank's process. Additionally, the bank's NPA properties come in various types and price ranges in investment-friendly locations, including residential and investment properties such as land with buildings, vacant land, single houses, twin houses, townhouses, condominiums, commercial buildings, home offices, factories, hotels, warehouses, dormitories, apartments, and office buildings, suitable for all customer groups including investors, entrepreneurs, businesspeople, and residents. The bank is ready to support loans according to its guidelines to facilitate the public in purchasing the bank's properties more easily, with a sales target of 8.5 billion baht by the end of the year,” Mr. Luesak added.

 

          For customers purchasing NPA properties at the Major Housing and Condo Fair and Yearly Loans, in addition to receiving discounts of up to 30% and a special interest rate of 0% in the first year with a transfer fee of only 1%, there are also services for securing property purchases via KTC credit card, cash, or cashier's check. Additionally, the bank offers special gifts to customers who refer friends to download the KTB NPA Application at the booth the most each day. Krung Thai Bank is the first bank to develop the KTB NPA Application for browsing the bank's properties for sale via mobile phones and tablets, enhancing convenience. Customers interested in the bank's NPA properties can download the KTB NPA Application on both iOS and Android platforms from the App Store and Play Store, making it much easier to search for NPA properties. They can search for property information by category, such as single houses, condos, apartments, townhouses, commercial buildings, vacant land, or specify particular conditions such as property type, price range, and property address. When selecting the desired NPA property, detailed property information and contact information will be clearly displayed. Additionally, the location of the property will be shown with navigation systems to the interested NPA properties.

 

Special Conditions for Housing Loans from Krung Thai Bank

 

           Moreover, Mr. Luesak stated that the highlights of the bank's ready-to-sell properties include: the variety of property types available in various formats and locations, whether for personal residence or investment purposes, and have been verified to  have legal ownership documents. Generally, properties or houses used as collateral for loans must have undergone an appraisal process. The pricing advantage is that the properties are priced lower than market rates. The reason for the lower price is that the bank needs to sell properties within a legal timeframe, resulting in prices being lower than general market rates. The bank has programs to sell properties at lower prices to cater to different customer needs. The location advantage allows customers to choose residential locations in developed areas at lower prices since the bank's second-hand properties are often located in developed project areas or along new expanding subway routes. The service advantage is that the bank has staff dedicated to managing and selling properties directly. If customers need information or wish to view properties, they can contact staff immediately, who can provide excellent sales consultation. Additionally, customers have various channels to consider property options. In this digital age, the bank has adopted technology to facilitate customers, such as the KTB NPA Application, which allows property searches via mobile phones.

 

Thank you for the information from  www.ktb.co.th