There is no doubt due to the improving world economy that our current low interest rate environment is probably in its final year.
The honorary president of the housing business association Mr Issara Boonyoung firmly believes rates are very likely to rise, so people would be wise to purchase their new home sooner rather than later.
Property developers currently have many attractive promotional campaigns running in this low interest rate period so Mr Boonyoung urges potential buyers to make a move now. He firmly believes this year is a “golden period” for home buyers to get a unit or condo at an attractive price due to developers offering many incentives after they have experienced a very sluggish period over the last year or so.
He points out rising land prices will mean you will not be able to buy a new townhouse under one million Baht this year, and in the next few years you will be paying over 1.5 million Baht, so the message is loud and clear, BUY NOW.
Meanwhile, the construction of new mass transit lines this year is expected to open up new residential locations and boost housing demand.These transit lines include the Pink Line (Khae Rai-Chaeng Watthana-Min Buri section), the Orange Line section linking Thailand Cultural Centre and Taling Chan and the Yellow Line (Lat Phrao-Samrong).
Deputy Prime Minister Prajin Juntong said The Thai economy will grow by 3.5% this year, driven by the government’s investment of around 100 billion baht nationwide, “Consumer spending is also improving he said, which will help market sentiment.”
Here is a buying opportunity;
The Thai Real Estate Association is holding the 36th House & Condo Fair at Queen Sirikit National Convention Centre, which runs from March 8-12.
There are over 1,100 projects in Greater Bangkok and the provinces, including condos, single houses, townhouses, duplex houses, resorts, golf courses, land bank plots, both new and second-hand from more than 200 developers being introduced at the fair.
Promotional campaigns at the fair include discounts of up to 1 million baht, with fixed rates of interest from 0.75%, no charge for t
ransfer fees and free items such as gold necklaces, a BMW motorbike, a 2.5-million-baht Mercedes-Benz.