Leading Broker Is Expected To Give Away 50 Percent Discount On 4 Bangkok Condominium Projects

One of the leading property broker and consultant Harrison recently announced that it is expected to give over a mega sale offering discounts of up to 50% in order to close sales on at least four completed Bangkok housing projects that are nearly more than 80% sold.

Following units are expected to be open for auction, at a starting price offering a discount of up to 50%, and will then be open for almost two hours of bidding.

1. Units at Saint Louis Grand Terrace
2. @City Sukhumvit 101/1
3. Waterford Sukhumvit 50
4. The Master Centrium Asoke

The auction is slated to be held from March 28-29, 2009, at the individual project sites, with the effort of closing sales at all the above four projects to liquidate assets and arrange funds for new and upcoming project investment.

Vice president at Harrison, Sahatchai Kwancheun, said the sellers – three condominium developers and a group of investors - might face a little loss, but most of them felt that it is always better than retaining the units for longer period and then end up paying maintenance fees and a possible renovation cost. The initial price for some units in the auction is expected to be as low as Bt850,000.

All those buyers who will book under this campaign will also get special credits and interest rates from Siam Commercial Bank, according to a statement issued by Harrison.

The details of all the participating projects are as follows:

1. @ City Sukhumvit 101/1, which includes of five 11-14-story buildings located on a 7 rai plot of land with a total of 799 units;
2. Waterford Sukhumvit 50, seven different 8-story buildings located on a 11 rai plot of land with a total of 738 units;
3. Saint Louis Grand Terrace Sathorn, it is a 28-story building situated on a 2 rai plot of land with a total of 245 units; and
4. The Master Centrium Asoke, this is a 27-story building located on a 1 rai plot of land with a total of 79 units.