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Home-builders face 5-10% hike in cost by Q4

By on Aug 09, 2012 in Property News

Home-builders’ costs are expected to increase by 5-10 per cent in the final quarter of the year because of rises in the cost of construction materials and labour.

Home Builder Association president Dr Patchara Tantayanyong said home-construction companies would maintain current residential prices until the end of the ninth “Home Builder” exposition that will run from August 23-26 at the Plenary Hall, Queen Sirikit National Convention Centre.

She said the demand to build homes had recovered after last year’s flood and would drive market growth of least 5 per cent this year. The Home Builder 2012 expo targets new contracts worth Bt3.3 billion from the four-day event, up 15 per cent from Bt2.9 billion at last year’s expo.

The association also expects 15-20 per cent more visitors this year, totalling between 50,000 and 70,000, as buyers are eager to build before prices go up.

To boost the number of visitors at this event, Home Builder 2012 will coincide with Home Buyer Expo 2012, a leading consumer show for detached houses, townhouses and condominiums, NPA Grand Sale 2012 organised by the Housing Finance Association, and Home Loan 2012, a consumer finance show – all of which are expected to draw a good number of well-informed visitors to the venue.

Meanwhile, the association will partner with the Iron and Steel Institute of Thailand and the de-partment of innovation in real estate development, faculty of architecture and planning, Thammasat University, to highlight the “Across the Line” concept. They will showcase the latest in home construction and design innovations and outlook as well as play host to more than 40 leading home-builders and building-material suppliers.

Source : The Nation 8 August 2012

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