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Bangkok Property Developer Raimon Land Acts Against Speculators

By on Oct 05, 2015 in Property News, Residential

The Bangkok property developer, Raimon Land Plc is planning to continue to ask for large down payments to reduce transfer failure.  The belief is it will help screen out short-term speculators and maintain a high transfer rate.  Raimon Land currently request 25% of the selling price for the middle-priced segment and up to 40% for high end homes. The other benefit for Raimon Land is that high deposits are unattractive to short term speculators so they are less likely to be sold out on launch which may well mean they can raise the price of projects over time.

In the first 8 months of this year, Raimon Land recorded 1.22 billion baht in presales. This is down 49.2% year on year. It has 6 billion baht worth of unsold units across 5 of their projects – 10% at The River, 15% at 185 Rajadamri, 14% at The Lofts, 17% at Zire Wongamat in Pattaya and 39% at Unixx South Pattaya.

Last years’s presales were 3 billion baht, down by 20% from 2013 and 47% from 2012.

For the full article click here. 
Source: Bangkok Post, 23rd September 2015. Raimon Land Acts Against Speculators

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