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Baht/$ 33.68/71
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14,900
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KANANA KATHARANGSIPORN
A child plays hide-and-seek at the TMB Bank booth at the NPA Grand Sale, held by local banks at the Bangkok Convention Centre over the weekend. As many banks have tightened their lending practices due to rising credit risk, selling to more affluent buyers, many of whom pay cash, may be the solution for some companies. |
As lower confidence among investors and buyers is expected to continue in the second half of the year, the Thai Real Estate Association plans a luxury property fair to stimulate the market, says president Somchao Tantaterdtham.
He said property investors and buyers were not confident because of higher oil prices, living expenses, inflation rates and political uncertainties.
''Among all property segments, the luxury market has had less impact from the economic slowdown,'' he said.
''Buyers in the high-end segment have strong purchasing power and property is an alternative investment at a time of higher inflation rates and lower gains from bank deposits.''
The Thailand Exclusive Property Show will be held in early November at Siam Paragon. It will be the first fair held exclusively by the association, which normally joins other groups to hold the House & Condo fair annually.
''The House & Condo fair offers wide ranges of property priced in the middle- to lower-end segment while luxury property projects want an exclusive fair to target the right buyers,'' Mr Somchao explained.
The fair will offer condominiums, villas, single houses and townhouses in Bangkok and major tourist destinations including Phuket, Samui, Hua Hin and Pattaya.
Luxury hotels will also participate and offer special packages, while the association is talking with Amata Corporation to participate and pitch its industrial estates to investors.
''We're inviting overseas investors through international agencies to visit the fair as well,'' he said.
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