Saturday, August 23, 2008

NHA pushes sales before prices rise


NHA pushes sales before prices rise


The National Housing Authority (NHA) will hold a Baan Ua-arthorn low-cost housing fair, offering nearly 64,000 units worth a combined 24.57 billion baht before raising unit prices by another 30,000 to 50,000 baht, governor Suchart Siriyothipan said yesterday.

Among the units offered, 5,000 will be resale units that the NHA bought back as non-performing loans (NPLs) from the Government Housing Bank (GH Bank).

Sales from the event from Aug 29 to Sept 7 will help NHA reduce inventory and also repay GH Bank, which lent the authority funds to buy back units, a sum that has almost reached the maximum of 780 million baht.

Mr Suchart said the 63,961 units being offered would be from 68 projects, with more than 43,000 units located in Greater Bangkok and 86 projects with 20,000 units located elsewhere.

Of the total, 36,037 units were completed units at 94 projects, while 27,712 units from 60 projects are under construction and ready to transfer within three months. The NHA expects to sell between 15,000 and 20,000 units from the fair.

The NHA posted sales of 12,000 units worth a combined 4.68 billion baht from the first Baan Ua-arthorn low-cost housing fair held in March.

Mr Suchart said the NHA would seek cabinet approval to raise prices for units in some locations including Lat Krabang, Wat Sri Waree Noi and Rarm Intra. New prices would result in additional installment payments of 300 baht per month.

''If we get approval, the minimum household income requirement of buyers will increase to 40,000 baht a month from the current 30,000 baht,'' he said.

The NHA will also ask the cabinet to agree on big-lot sales of condo units at prices of 390,000 baht each, discounted from the current 470,000 baht, to interested buyers such as factory owners who could rent them out to workers. It would ban further resales in order to prevent speculation.

Currently, there were 12 projects with 15,000 units in Samut Sakhon and Nakhon Pathom that are seen as attractive for big-lot sales.

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