BAM announced it has launched the "Sap Mahachon" scheme, allowing the public to pay for property purchases in instalments directly with BAM, in response to loan-access problems that have weakened housing purchasing power, particularly in the housing market at price levels of roughly 2 to 5 million baht. Dr. Raks Vorakitpokatorn, Chief Executive Officer of Bangkok Commercial Asset Management Public Company Limited, or BAM, said the scheme brings non-performing assets, or NPA, including detached houses, townhouses, condominium units, commercial buildings and land in locations nationwide, to offer more choices to those who want to own a home. At present, more than 21,000 properties have joined the scheme, covering the needs of buyers across a wide range of occupations, with BAM aiming to design flexible payment conditions to help narrow the gap between people who want to own a home and those who can obtain a mortgage. Dr. Raks said that overall the real estate market still has a large amount of supply, while purchasing power and access to credit remain limited. The solution, therefore, should not focus only on creating new supply, but should bring existing properties back to be managed, improved and passed on to those with genuine demand for use at appropriate prices.
Bangkok Commercial Asset Management Public Company LimitedBAM launches Sap Mahachon scheme offering over 21,000 NPA properties for direct instalment purchases, creating a new sales channel for its assets.
