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Zero interest on offer at home show

The Nation February 19, 2009

Home-buyers will enjoy shopping at the "20th Home and Condo Show" that starts today and runs until Sunday.

Among the special promotions on offer are zero interest on home loans for the first three months and discounts and other incentives for selected properties.

A Nation survey yesterday showed almost all commercial banks participating in the event at the Queen Sirikit National Convention Centre would waive interest for the first three months on mortgage loans for those applying at the fair.

And developers are drumming up interest in 500 residential projects worth a combined Bt100 billion with special promotions like discounts of Bt100,000 to Bt3 million per unit, free furniture worth Bt50,000 to Bt400,000 and package tours.

Chatchai Payuhanaveechai, senior vice president for consumer loans at Kasikornbank (KBank), said the bank would offer zero interest for the first three months of its home loan and finance up to 90 per cent of a property's' appraisal value.

KBank has targeted Bt1 billion in mortgage loans over the four-day event.

Krung Thai Bank (KTB) will also offer zero interest for the first three months of a mortgage loan and then the minimum retail rate (MRR) minus 1 percentage point. At present, KTB's MRR is quoted at 7 per cent.

Vijitra Property Group CEO Suebwong Sukhamongkol said his company would offer a discounted price of Bt3 million for only 24 units at its ready-to-move-in single-family-home project and one free three-day, two-night trip to South Korea.

Tararom Enterprises will launch a "Countdown Sale" at the event, with discounts of up to Bt300,000 for Promenade Home in Thon Buri and a free gift worth up to Bt400,000 for those buying a residence in the Noble Home project in the Watcharaporn area.

Housing Business Association secretary Wasan Kiangsiri, who is also president of the organising committee for this event, said that the fair would stimulate demand for residential projects in the first half of the year.

The association expects total sales of Bt2.5 billion and more than 80,000 visitors over the four-day show.