Bangkok: The Government Housing Bank (GHB) is set to launch its mid-year grand auction, offering more than 9,000 outstanding properties across prime locations nationwide at discounts of up to 50%. This event is part of GHB's second annual second-hand home auction initiative.
According to Thai News Agency, Mr. Wittaya Saenphakdee, Deputy Managing Director of Debt Restructuring Group at GHB, announced that the bank is committed to supporting Thai citizens in acquiring their own homes while invigorating the real estate market. The auction will feature a range of quality second-hand properties, including single houses, townhouses, condominiums, and vacant land. Notably, over 1,000 of these properties are located in Bangkok and its vicinity, with the lowest starting price at just 50,000 baht. Among these is a condominium project in Pla Thong 20, Mueang Pathum Thani District.
The highest starting bid for a property in Bangkok is for a single-detached house in the Bangkok Boulevard Ratchada-Ram Intra 3 project, with a bid price starting at 7,800,000 baht. This property is noted for its investment potential due to its location in a community area with convenient transportation.
Beyond Bangkok, the auction will feature over 8,000 properties with starting prices as low as 85,000 baht, including vacant land in Hua Hin District, Prachuap Khiri Khan Province. The highest starting bid for properties outside Bangkok is a two-story detached house in Tantawan Village, Hat Yai District, Songkhla Province, starting at 7,125,000 baht, situated in a residential area near tourist attractions.
The auction includes special promotions for buyers, such as a 0% per annum interest loan fixed for the first two years, a 2,000 baht cash voucher, and an organizing bag set for auction winners, particularly for properties in Bangkok and surrounding areas.
Mr. Wittaya highlighted the growing popularity of second-hand houses, attributing it to their affordability compared to new homes, while still offering similar area and location benefits. The auction attracts both prospective homeowners and investors, including both seasoned and new investors.
Auction winners are required to place a deposit of 10,000 baht for all items, with a 100,000 baht deposit required for properties with an auction price of 10 million baht or more. They must also sign a sales contract within 10 business days from the auction date, between June 30, 2025, and July 14, 2025.