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Property investors offered access to Thai developer discounts – Thaiger Flash Sale

The Thaiger

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Property investors offered access to Thai developer discounts – Thaiger Flash Sale | The Thaiger
PHOTO: 24 hour Flash Property Sale starts at midday today - Agoda.com
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PROPERTY EVENT

Today is the start of The Thaiger Property Flash Sale. It’s only for 24 hours (starting at midday today). The Thaiger has teamed up with fazwaz.com for this first-of-a-kind event.

When in a buyer’s market, that demand should be catered for, with discount offerings a key driver of success. The level of discount will depend on the developers’ willingness to accept lower profit margins, along with the supply available in the market. Bangkok, for example, has a large volume of property units available with many high-density development projects. In light of this market reality, a good ballpark figure to start discounting at is 15%-20%.

Since the beginning of April 2020, developers have begun launching their own e-commerce stores with incentive schemes to draw in clients. Although a good initiative in response to the current situation, around 90% of such offerings are only available in Thai, missing the opportunity to engage with international buyers.

Brennan Campbell, CEO at FazWaz, says that over the past 2 months, traffic to their property portal has increased exponentially.

“A huge proportion of our inquiries are explicitly looking to secure a deal.”

What is the potential for discount rates? Generally, discounts are uniform over an entire project and dependent on the saleable area, which can vary slightly. A recent survey of property developers, undertaken by FazWaz, showed that 31% of those questioned are willing to offer discounts of more than 10%.

Demand in the market is down and market sentiment is depressed; a clear indicator that developers need to be offering higher levels of discount to maintain a reasonable transaction volume. 69% of the developers surveyed haven’t implemented additional discounts during the current crisis – other than those that were already in place. The prediction is that this sentiment will change over time.

Flash Thursday will directly link potential property buyers with developers and sellers in one of Thailand’s largest online sales events. Developers from all regions and sectors in Thailand will be represented to bring enticing discounts to real estate investors.

Register now, it’s free. Runs from midday today (Thursday) to midday Friday.

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2 Comments

2 Comments

  1. Avatar

    Anna

    Thursday, June 18, 2020 at 2:11 pm

    Discounts? It’s this a joke? All 100k/meter and up. Some units have the same price on other platforms without the “discount”…

  2. Avatar

    John the Accountant

    Tuesday, September 15, 2020 at 2:31 pm

    Prices way too expensive and it was quite easy to get a 10% discount in normal days.

    With so many buyers not completing on their off plan purchases and forfeiting their deposits, the developers should be able to discount at least +20% in these times.

    I look at price per square meter and location and the prices are still too high.

    Long term cities, including Bangkok, will have less and less people as they move out as the middle management jobs disappear. that will result in less and less demand for condos in Bangkok.

    There are more and more Capital controls in China so it will be harder and harder for Chinese to buy outside China. On top of that, there is a recession in china due to lack of demand from the west.

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Thailand

British arrivals ‘on hold’ after family confirmed with B117 Covid strain

The Thaiger

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British arrivals ‘on hold’ after family confirmed with B117 Covid strain | The Thaiger

In their latest proposal, Thailand’s Ministry of Public Health will request the CCSA to defer the entry of British visitors to the country after evidence of the faster-spreading B117 strain (aka. the “G strain”) of Covid-19 was found in 4 British travellers arriving in Thailand on December 21.

Over 30 countries have reported cases of the highly-transmissible UK variant of the novel coronavirus, raising fears of increased global spread of the virus, even as countries begin to unroll vaccination programs in the new year, including Singapore and Taiwan. Up to recently, Taiwan has had very few Covid-19 infections.

Vietnam is the latest nation to report a B117 case, which authorities detected in a woman quarantined after recent travel from the UK. Vietnam has banned nearly all international travel, but it is providing repatriation flights for citizens stranded in the UK.

Department of Disease Control announced that all passengers who were on board the same flight as the 4, or anyone who had come into contact with them, has now been located, tested and found to be clear of infection.

The 4 English patients were all from the same family travelling from Kent. The family are now confined to a hospital “and will not be released until medical officials test and clear them of Covid-19 risk”, according to the Centre of Excellence in Clinical Virology at Chulalongkorn University’s Faculty of Medicine.

The Centre’s Dr Yong Poovorawan says they’ve been collecting samples from Covid-19 patients for research and reported that the Covid-19 detected in the 4 British patients are of the B117 strain which is spreading quickly through the UK.

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Expats

Video of foreigner’s road rage in Pathum Thani gets mixed reaction from Thais

Caitlin Ashworth

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Video of foreigner’s road rage in Pathum Thani gets mixed reaction from Thais | The Thaiger

A video of a foreigner lashing out after a motorbike accident, yelling and hitting a Thai motorbike driver for pulling out in front of him and causing him to crash, has gotten a mixed reaction from Thais (you MUST watch it… below). The incident also caught media attention and Thairath made a post on Facebook pairing the clip from the foreigner’s helmet camera with dramatic music and editing.

The foreigner was driving on Route 3309 in Pathum Thani’s Muang district, north of Bangkok. He was filming a video on his helmet camera while he talked about the motorbike when another motorbike driver suddenly pulled out from an intersection, causing him to crash.

The foreigner fell off his motorbike and confronted the driver, yelling “Hey, what the f**k is wrong with you?!” He slapped the man’s helmet.

Some people say the Thai motorbike rider was driving irresponsibly and the incident could have been much worse if it involved a car. Some say the foreigner should’ve controlled his anger. Others say that’s just how traffic is in Thailand…get used to it.

To watch the dramatised video edited by Thairath, click HERE.

SOURCE: Thai Visa

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Government to raise 5-year Elite visa fee by 20%, as foreigners flee Covid countries

Maya Taylor

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Government to raise 5-year Elite visa fee by 20%, as foreigners flee Covid countries | The Thaiger
PHOTO: www.thailandelitevisa.com

As more foreigners opt for one of Thailand’s “elite” visas, allowing stays of between 5 and 20 years, and costing anything from 500,000 baht to 2 million, the most popular version is in for a price hike. The cost of the 5-year “Easy Access” visa will go up by 20% from January, to 600,000 baht.

It’s understood there were a record number of new applications for the visa this year, as foreigners sought refuge in a country that appears to have pretty much suppressed the Covid-19 virus. Nikkei Asia reports that an additional 2,674 applicants signed up for an elite visa during the company’s 2020 financial year, which ended in September. That’s an increase of nearly 25%, with the scheme generating revenue of 1.6 billion baht.

Somchai Soongswang from Thailand Privilege Card, which sits under the umbrella of the Tourism Authority of Thailand, says applications were received both from tourists stranded in Thailand, and people overseas who wished to escape Covid-19 in their own country. To date, Thailand has recorded just over 4,000 cases of the virus, significantly lower than the numbers logged by other south-east Asian countries.

It’s understood that as of the end of September, over 11,100 people hold an elite visa, as part of 9 different packages offered by Thailand Privilege Card. Most of them are from China, Japan, South Korea, the UK, and the US. The company plans to sign up at least another 2,700 for the fiscal year 2021, and is currently working on its latest offering, which will be the 10th visa package in the scheme.

The “Flexible One” elite visa is aimed at property investors who spend at least 10 million baht. For their investment, they will be offered a 5-year visa, either for free or at a discount, in a move aimed at boosting the Kingdom’s flailing property market.

SOURCE: Thai Visa | Nikkei Asia

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