Property developers are busy introducing special marketing campaigns to cash in on the government's property stimulus measures that kicked off yesterday.
Among them are Sansiri Plc, which introduced on-top discounts for 62 residential projects nationwide that have remaining units available for sale priced from 1.5 to 40 million baht.
Chief operating officer Wanchak Buranasiri said the government incentives including a reduction in mortgage and transfer fees to 0.01% and 0.02% from 1% and 2%, respectively, would help to boost the housing market.
"The housing market in this year's fourth quarter and the first quarter of 2016 will grow incredibly, boosted by these incentives," he said.
The campaigns it offers under the incentive scheme include on-top discounts such as waiving transfer fees for homebuyers purchasing a ready-to-move-in unit.
Another campaign is a special discount for all product segments including single houses, townhouses and condos, which will end on Nov 30.
The company expects the housing segment with units priced below 3 million baht will reap the most benefits from the incentives, as they also include a deduction in personal income tax with 20% of the home price over five years.
Of Sansiri's 62 projects on hand, 35% worth 9 billion baht are projects with units priced below 3 million.
The company expects the property incentives will allow it to achieve this year's revenue target of 35 billion baht.
Quality Houses Plc will also launch a campaign next month to compete with other developers in grabbing housing demand stimulated by the incentives.
And in a bid to persuade customers to decide more quickly, AP (Thailand) will introduce a two-day campaign from Oct 31 to Nov 1 that features a waiver on common-area expenses for two years, a waiver on all expenses on transfer dates and free furniture and electric appliances.
However, the property incentives will not benefit self-built homebuyers, as this segment is ineligible to receive a reduction in mortgage and transfer fees.