Property auction nets B239m

PHUKET: An auction at the weekend of 51 properties repossessed by banks brought in more than 239 million baht, and the Phuket Legal Execution Department (PLED) says there’s much more to come. Properties coming up in two more auctions could take the total over one billion baht, the PLED estimates. Saeksan Suksang, chief of the PLED, said the first day of sales exceeded expectations. About 200 people gathered at the Phuket Merlin Hotel on Saturday, with a 40 rai plot – one of the biggest pieces of land in Kata – being knocked down for 190 million baht. K. Saeksan said, “We have about 260 properties on the books at the moment. We think it’s a good opportunity for people to buy because banks are offering low interest rates.” The PLED will hold more auctions on July 27 and August 17 from 8am to 5pm at the Phuket Merlin. For more information contact the PLED at 076-217090 or 076-215589.