Bangkok--Dec 20--Capital Advisory Services
The Legal Execution Department in conjunction with Global Thai Property Mutual Fund and Palarp Property Management Co., Ltd., reveals plans to auction out over 250 property items in 2005 with starting bid of only 50%-80% of their estimated value. Property Choice believes pre-owned homes will continue to do well next year.
Annop Senasuttipan, Marketing Director of Capital Advisory Services (Thailand) Co., Ltd., operator of an asset management unit under the name “Property Choice”, disclosed that the Legal Execution Department along with Global Thai Property Mutual Fund and Palarp Property Management Co., Ltd., would host an auction in the first quarter of 2005 to unload over 250 items of property located within Bangkok and its vicinity. “The total value of properties to be auctioned out has been estimated at over 290 million baht. These items include single-detached houses, townhouses, condominiums, shop houses and empty lots in Bangkok, Nakorn Pathom and Pathumthani.
“Selling pre-owned properties has been doing well this year especially the houses. As for 2005, the Thai economy is expected to remain stable. If the demand for homes remains unchanged, the business will continue to well as pre-owned houses are better in terms of pricing and location,” said Annop.
The first property auction in 2005 by the Legal Execution Department will be held at its office in Bangkunnont on January 15, 2005. Properties worth over 160 million baht will be offered during the auction. The second auction, held in Nakorn Pathom office, will follow on January 18, 2005 to unload properties located in Bangkok’s vicinity, whose combined value is worth over 90 million baht. The third auction, held on January 12, 2005 will take place in Pathumthani Province with total properties worth 40 million baht. The starting prices of auctioned properties will be only 50%-80% of the official appraised value.
Excellent property projects in Bangkok offered during the auction include PST Condoville — condominium project with estimated value for each unit at 166,000 baht — Duangmanee Watcharapol — townhouse project with unit’s estimated value of only 478,000 baht — Wisetsuknakorn — townhouse unit on 22.6 square wa land with estimated value of 630,000 baht — and single-detached housing project namely Krissadanakorn 20 and Thanika Development.
The auction in Nakorn Pathom offers good property items in Krissadanakorn 26 — 24-square wa townhouse with estimated value of 610,000 baht, whil the one in Pathumthani will include Thanyapruek Project in Rangsit klong 7 — townhouse on 16.7 square wa land with estimated value of 417,000 baht — and Green Garden Home, whose estimated value of each unit is only 247,000 baht. During these auctions, there will also be large and small empty lots perfect for home building or profit speculation on the list.
“The auction at the three Legal Execution Department offices will commence at 9.00 am. The sessions provide great opportunity for homebuyers with limited budget or investors to select good pre-owned homes in excellent locations and at affordable prices with only 50%-80% of the actual appraised value to begin with. Call 0-2250-9500 for more details or visit www.propertychoice.net or pick up auction documents personally at the 32nd floor of CRC All Seasons Place.,” he concluded.
Property Choice is operated by Capital Advisory Services (Thailand) Limited. The company is renown for its expertise in property auction as evident in previous public auctions, where many interested homebuyers turned up, living up to its slogan of “Property Choice — The choice of homebuyers: New alternative for pre-owned houses for your utmost satisfaction.”
For more information please contact:
Kalaya Laiad-on
Capital Advisory Services (Thailand) Limited
Tel.0-2646-4717-18 or www.propertychoice.net End.