Bangkok--2 Mar--Fragrant Property
Fragrant Property, the developer of the ‘The Circle’ condominium on New Petchburi Road has come out with Thailand’s first promotion that allows customers who purchase their units to be able to sell back their units to the developer once the project is completed with a slight premium to their payments they make.
Fragrant Property, which is undertaking the construction of the 4-billion baht ‘The Circle’ condominium project, said that the move undertaken to allow customers to be able to sell their units was being undertaken to create confidence among the potential customers who have started to lose confidence in the property market in Thailand.
Executives at Fragrant Property are confident that the so-called ‘Buy Back Option’ campaign would help create confidence and would play a role in restoring the country’s property market.
James Duan, Managing Director of Fragrant Property Co. Ltd, disclosed that ‘The Circle’ project has launched the ‘Buy Back Option’ campaign since the end of February this year and therefore, Thai buyers of ‘The Circle’ who purchase studio type rooms, will have the privilege to sell back their condo units to the company during the period of December 2011 to February 2012.
By that time the project’s construction would be completed and the buyers will also gain higher amount of money with no risk associated. It therefore can be regarded as a good investment choice especially during the current economic conditions.
“This campaign of ‘Buy Back Option’, will help increase the buyer’s confidence in both the quality of finished condos and the increasing the value of assets in the next one or two years, especially for the buyers who are looking at the purchase as an investment option. We estimate that during such period the land price will possibly rise by 10% than that at present. Since the end of last month, we have launched this campaign and found that there are plenty of people who are interested in this program,” said Mr. James.
The Circle is a condominium project worth over 4 billion baht that is located on New Petchburi Road. The project comprises 901 units in total with the unit sizes ranging from 32.28 — 204.09 square meters.
The average price is about 90,000 baht/square meter and currently the company has managed to sell more than 70% of its total number of units.
Mr. James added that after the government’s measure stimulating the real estate market was issued and the marketing campaigns were launched by companies, now the sign of market restoration can be detected. Regarding The Circle, its sales started slowing down at the end of last year; however, now the figure is better and satisfying.
“Since the event of ‘Start Your New Circle’ in the middle of February and the event of House and Condo Festival, we have more chances to meet the customers, especially our old customers who have returned to buy more units. As a result, the sales of ‘The Circle’ have increased steadily to a satisfactory level. We believe that the market may revive sooner than expected because the consumers have begun to have more confidence,” Mr. James summarized.
For those who are interested and need to know more details about “Buy Back campaign” please contact sale office at New Petchburi Road everyday during 9.00am-7.00 pm or Tel. 02-652-8825-8 www.circlecondo.com