BAM presented its performance from the auction over 1.6 billion baht

          BAM presented its performance from three auctions they held this year which raised more than 1.6 billion baht income. BAM is going to stimulate the sales volume at the end of the year by selling its eminent assets at “the 29th Home and Condo Expo”. BAM has the promotion for the customers who buy assets worth less than three million baht to waive the ownership transfer fee. The customers also have a chance to win a BAM 15th Anniversary prize.

          BAM’s President Mr.Krit Sesavej said that this year BAM focuses on the proactive policies in stimulating the sales volume for the whole year. BAM has held three auctions earlier this year on 29 March, 27 June and 12 November 2013. The auctions had very good feedback and 10 assets worth 1,663,668,110 baht in total were sold. The turnover exceeded the target by 1.1 billion baht.

          The assets that were approved to be in the auction were 1. Four-story office buildings on Rama 3 Road Yannawa, Bangkok 2. Vacant land (18-1-11 rai) on Suksawat Road, Samut Prakan 3. Land with buildings (132-3-56 rai) on Chianmai-Hod, Chiangmai 4. Vacant land (7-1-16.3 rai) on Din Daeng Road Klongsan, Bangkok 5. Vacant land (51-3-84 rai) on Bangna-Trad Road, Samut Prakan 6. Land with buildings (14-1-80.2 rai) on Mahidol Road, Chiangmai 7. Vacant land (23-2-84 rai) on Sukhumvit Road, Chonburi 8. Vacant land (4-3-61 rai) in Green Valley Project on Bangna-Trad km. 15, Samut Prakan 9. Vacant land (22-1-95 rai) Bangna-Trad km. 45, Chacherngsao 10. Land with building (116-0-73.6 rai) Sinthorn-Mahachai Project, Samut Sakorn.

           As of September 2013, BAM has 11,472 properties for sale worth 37.1 billion baht. In the past 10 months, BAM has total sales volume of 2,130 assets worth 6.406 billion baht. The best-selling type of asset is vacant land which had sales volume of 1,190 items worth 3.938 billion baht. 

           During 14-17 November 2013, BAM arranged a booth in “the Home and Condo Expo” at Queen Sirikit National Convention Center. BAM selected 322 high potential assets in Bangkok and vicinities worth 3.7 billion baht to sell in the event. BAM also offered a special promotion for customers who bought asset worth less than three million by waving the ownership transfer fee. The customers who transfer the ownership before 15 December has a chance to win one of 99 BAM’s 15th Anniversary prizes includes cars, Korea tour package, gold, motorcycles, etc. This event has 200 million baht sales target.

           For the customers who buy assets for living purpose from BAM, the Government Saving Bank offers housing loan with fixed interest rate at 4.5% for three years. The appraisal fee is waived and the customers can get up to 90% loan of the buying price. The Thai Military Bank also offers 0% interest loan for two months with asset survey fee waived and free fire insurance. 

           Mr.Sesavej expressed his opinion said that the property market still has room to grow especially in high potential provinces like Pitsanulok, Ubon Ratchatani, Khon Kaen, Rayong, Kachanaburi and Chacherngsao. The market in Pitsanulok is looking very good as the high-speed train will pass the province and it is the city of governmental offices and a famous university. The land price in Pitsanulok rose rapidly. However, the risk factors like politics and rising household debt have to be watched closely as they can affect property market.