According to Prasert Taedullayasatit, president of the Thai Condominium Association, it is now time to purchase properties in Thailand as there are a lot of resale units in the market and some owners might not be able to finance their units because of a lack of cash.
A considerable amount of buyers do not want to transfer their properties (and thus pay the remaining transfer amount) and aim to resell their condo, even at loss sometimes in order not to give up their S&P Agreement and waste their money. It might be an opportunity for property buyers willing to get a good price as their bargaining power while dealing with such seller would be much higher than buying from the developer directly.
Plus, resale units are usually much cheaper – 10 to 15% usually – than developer’s prices as owners always try to be more competitive in order to make a quick return on investment.
He added that about THB130 billion worth of properties are schedules for transfer in this Q4 2016 but the banks have rejected already 10-20% of mortgages.
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