Banks are offering thousands of second-hand properties with discounts of up to 40% along with special loan offers at 0% interest during the Home-Loan-NPA Grand Sale 2022 from July 1-3, 2022, at Impact Exhibition Hall 8, Muang Thong Thani. If you want more options, you can continue shopping online through a 3D Virtual Exhibition until July 15 this year.

Mr. Kitti Patanapongpiboon, Chairman of the Housing Loan Association, revealed that the association is organizing the Home-Loan-NPA Grand Sale 2022, showcasing Non-Performing Assets (NPA) from banks and financial institutions, featuring a variety of second-hand properties in prime locations at affordable prices, along with mortgage products for home purchases. This event represents the best opportunity for both residential and investment purchases, taking place from July 1-3, 2022, at Impact Exhibition Hall 8, Muang Thong Thani.

"The association has refrained from organizing events for the past three years due to the COVID-19 pandemic, which has significantly impacted Thailand's economy. At the same time, the number of unsold properties in the financial system has increased. As the pandemic situation begins to improve, the government has relaxed various measures and made it easier for tourists to enter the country. The country's economy is starting to recover, and the association sees this as an opportunity to conduct marketing activities to clear the rising inventory of unsold properties together again," Mr. Kitti stated.

The event will feature tens of thousands of NPAs from banks and financial institutions, including single houses, townhomes, condominiums, commercial buildings, apartments, office buildings, factories, and vacant land, all participating in promotional activities with various offers and special loan terms, such as:

  • Bangkok Commercial Asset Management Company is running the "Good House with Stars by BAM" campaign, offering discounts of up to 30% with 0% interest for 12 months.
  • Government Housing Bank has selected over 400 prime properties with a fixed interest rate of 1.99% per annum for the first four years for homes priced up to 1.5 million baht.
  • Government Savings Bank is presenting attractive properties with discounts of up to 35% on NPA.
  • Bangkok Bank is offering properties for sale at discounts of up to 20% along with special interest rates.
  • Kasikorn Bank is offering second-hand homes at a fixed price of 1.99 million baht, with free transfer fees up to 300,000 baht and 0% interest for 6 months.
  • Sukhumvit Asset Management Company (SAM) is offering additional benefits for buying SAM homes, including free transfer fees of 2% and vouchers up to 40,000 baht, with existing customers receiving vouchers up to 100,000 baht.
  • Krung Thai Bank has selected beautiful homes in prime locations across Thailand, with 4,500 properties offered at special prices.
  • Thai Commercial Bank is providing special discounts on city-center condominiums with starting interest rates of 2.99%.

Additionally, the National Housing Authority is presenting affordable housing projects for low- and middle-income earners at the event, while the Property Information Center of the Government Housing Bank is preparing real estate data to assist in purchase decisions for both residential and investment purposes. The event will also feature consultation services from specialized experts, as well as the introduction of an automated valuation system (Bestimate) that allows consumers to quickly access property values, utilizing Big Data Technology and Fintech-Digital Marketing to meet the individual needs of second-hand property buyers.

Mr. Kitti further emphasized that now is the best time to purchase real estate, especially second-hand properties, due to several supporting factors: 1. Inflation is causing new home costs to rise by 5-10%, while second-hand homes retain their original costs, making them at least 20-30% cheaper. 2. The trend of rising interest rates means that purchasing real estate now still allows for lower interest rates, especially for NPAs, which are assets of banks and financial institutions that offer attractive loan conditions.

Moreover, the government is supporting the purchase of second-hand properties priced below 3 million baht by reducing transfer and mortgage fees to 0.01% until the end of 2022, saving nearly 30,000 baht per million baht, making this the best time to buy NPA properties.

Mr. Alongkot Boonmasuk, Secretary-General of the Housing Loan Association, added that this year's Home-Loan-NPA Grand Sale 2022 will be the first hybrid event. In addition to the onsite event at Impact Exhibition Hall 8, Muang Thong Thani from July 1-3, 2022, the association has also organized an online event in the form of a 3D Virtual Exhibition through the website https://bit.ly/NPA2022-virtual, which has been available online since June 15, 2022, until July 15, 2022.

Since the launch of the Home-Loan-NPA Grand Sale 2022 in the form of a 3D Virtual Exhibition until June 30, 2022, there have been 5,300 online visitors, with 72.3% being women and 27.7% men. The majority of online visitors, or 44.9%, are aged between 25-34 years, and another 35.2% are aged between 35-44 years, indicating that these age groups are looking to purchase homes to start and expand their families, accounting for a combined total of 80%.

In terms of the types of properties that online visitors are interested in, 65.8% are single houses, 19.1% are duplexes, and 15.1% are condominiums. It is noticeable that single-family homes and duplexes together account for 85% of interest, partly because people generally want to own single-family homes. Additionally, the COVID-19 pandemic has increased the demand for living space, leading to a rise in interest in single-family homes during this period.

Regarding the price range of homes that visitors are interested in, 39% are looking for homes priced below 1 million baht to 2 million baht, which aligns with data from the Property Information Center of the Government Housing Bank indicating that second-hand homes priced below 2 million baht are in the highest demand due to the limited supply of new homes at this price point caused by rising land and construction costs. Second-hand homes thus become the option for those seeking homes priced below 2 million baht, while the demand for homes priced between 3-5 million baht accounts for 22%, and those priced between 2-3 million baht account for 19%, respectively.

Mr. Alongkot added that the online Home-Loan-NPA Grand Sale 2022 will continue until July 15, 2022. Anyone who missed the onsite event at Impact Exhibition Hall 8, Muang Thong Thani can still visit the online event. It is expected that the various promotions from each financial institution, including discounts, special interest rates, and giveaways, will continue until the end of the online event, or there may be additional special conditions introduced to boost sales in the final stretch of the event.