elderly couple standing outside the house

Thailand Witnesses Rapid Sale of Second-Hand Houses, Generating 107 Million Baht in Just One Hour

In a remarkable display of demand for second-hand housing, the Government Housing Bank (GH Bank) in Thailand has announced astonishing results from its “GHB’S NPA Online Auction” conducted via the “GHB ALL HOME” application. The auction, which took place on Friday, September 8, 2023, between 12:00 and 13:00 hrs, saw an astounding 107 million baht in sales for 91 second-hand houses available nationwide. These properties were divided among 23 assets situated in Bangkok and its surrounding areas, with the remaining 68 located across the country.

Notably, the auction featured a property with an opening bid as low as 100,000 baht, which included a condominium spanning 23.63 square meters in Bang Phli District, Samut Prakan Province. On the other end of the spectrum, the highest-priced property was a spacious detached house covering 68.10 square meters in Mueang Phuket District, Phuket Province, fetching an impressive 5.05 million baht. This particular property’s premium valuation was attributed to its expansive size and prime location at the heart of popular tourist attractions, offering convenient travel options.

Winning bidders are now required to place a security deposit, as specified by GH Bank, for the purchase of their selected properties. Subsequently, they must enter into a purchase and sale contract by September 19, 2023. GH Bank is facilitating this process by offering its NPA ready-to-sale property purchase loan product promotion, featuring the lowest interest rates available for a maximum repayment period of 24 months, subject to the bank’s defined criteria.

The swift and successful auction of these second-hand houses highlights the robust demand for property in Thailand’s diverse real estate market. It underscores the attractiveness of the offerings, which cater to a range of budgets and preferences. As Thailand’s real estate landscape continues to evolve, the GH Bank’s auction serves as a testament to the enduring appeal of property ownership and investment opportunities in the region.

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