VMPC promotes 2-pronged business to overcome the crisis, hop
Jan 3, 2024 5:30:08 GMT
Post by account_disabled on Jan 3, 2024 5:30:08 GMT
VMPC CEO predicts that the overall real estate market has slowed throughout the first half of 2019 and will linger until the end of the year. Looking forward to 2020, the Thai economy will support real estate recovery! Concerned about the new generation 'Get into debt quickly - get a lot of debt - get into debt for a long time' showing VMPC's strengths, focusing on two business legs, both real estate for sale and rent, diversifying risk, stocking up on backlog to sustain itself through the crisis. Delighted with Oakwood Sriracha, a luxury 5-star hotel, 50 floors high, in a prime location, occupancy exceeds target! Mr. Parinya Thienworn, Chief Executive Officer of V.M.P.C. Company Limited (VMPC), a leader in real estate development for both sale and rent, revealed that the Thai economic situation in the first half of 2019 was in a slowdown. As a result, the overall real estate business is stagnant.
Although the government has issued measures to stimulate real estate taxes to promote Job Function Email Database owning a home. By granting income tax deductions to individuals who purchase their first home for the purchase of real estate that is a building with land or a condominium valued at not more than 5 million baht, based on the amount actually paid. But the total amount does not exceed 200,000 baht from 30 April – 31 December 2019, which such measures benefit only a certain group of entrepreneurs. While improving the supervision criteria for housing loans by setting credit limit levels. Extended collateral (LTV) for the purchase of houses under contracts 2 and 3 or houses worth more than 10 million baht in order to maintain the stability of the country's financial system, effective from 1 April 2019, is considered a good measure for Thailand But in terms of the real estate sector as a whole, it will take some time to adjust. And in the second half of 2019, it is expected that the overall Thai economy and real estate business will not recover. Because there are still risk factors from the global economic slowdown. and the trade war between the United States and China that is still in an intense situation and there are continuous interactions. However, it is expected that in 2020 the overall Thai economy and real estate business will adjust in a better direction.
Currently, the main troubling factor in the real estate market is likely to be LTV, which is mainly due to the fact that people in this era are in a state of 'Get into debt quickly - get into debt a lot - stay in debt for a long time' The reason why I got into debt quickly is because when I graduated, around 21–22 years old, I started working and I already had a credit card. Some people have 4–5 credit cards at the same time and then fall into a state of debt. Because after some time has passed Debts will compound with interest. Move from this card to that card. Withdraw cash from this card and put it on another card, which will cause more accumulated debt. And if there is no financial discipline Continuously in debt like a snake eating its tail Have problems with installment payments or are on the Blacklist and if they want to apply for a home loan from a financial institution because this group of people does not have enough savings to buy a home in cash, they will have problems with not being able to get the loan. People who want to own a house, once they get on the Blacklist, they can't do anything further. It is considered a worrisome problem in Thai society today,” Mr. Parinya said. Mr. Parinya added that VMPC operates real estate businesses both for sale and for rent for efficient management and risk diversification. Currently, VMPC has 60% of its income from sales properties and 40% from rental properties.
Although the government has issued measures to stimulate real estate taxes to promote Job Function Email Database owning a home. By granting income tax deductions to individuals who purchase their first home for the purchase of real estate that is a building with land or a condominium valued at not more than 5 million baht, based on the amount actually paid. But the total amount does not exceed 200,000 baht from 30 April – 31 December 2019, which such measures benefit only a certain group of entrepreneurs. While improving the supervision criteria for housing loans by setting credit limit levels. Extended collateral (LTV) for the purchase of houses under contracts 2 and 3 or houses worth more than 10 million baht in order to maintain the stability of the country's financial system, effective from 1 April 2019, is considered a good measure for Thailand But in terms of the real estate sector as a whole, it will take some time to adjust. And in the second half of 2019, it is expected that the overall Thai economy and real estate business will not recover. Because there are still risk factors from the global economic slowdown. and the trade war between the United States and China that is still in an intense situation and there are continuous interactions. However, it is expected that in 2020 the overall Thai economy and real estate business will adjust in a better direction.
Currently, the main troubling factor in the real estate market is likely to be LTV, which is mainly due to the fact that people in this era are in a state of 'Get into debt quickly - get into debt a lot - stay in debt for a long time' The reason why I got into debt quickly is because when I graduated, around 21–22 years old, I started working and I already had a credit card. Some people have 4–5 credit cards at the same time and then fall into a state of debt. Because after some time has passed Debts will compound with interest. Move from this card to that card. Withdraw cash from this card and put it on another card, which will cause more accumulated debt. And if there is no financial discipline Continuously in debt like a snake eating its tail Have problems with installment payments or are on the Blacklist and if they want to apply for a home loan from a financial institution because this group of people does not have enough savings to buy a home in cash, they will have problems with not being able to get the loan. People who want to own a house, once they get on the Blacklist, they can't do anything further. It is considered a worrisome problem in Thai society today,” Mr. Parinya said. Mr. Parinya added that VMPC operates real estate businesses both for sale and for rent for efficient management and risk diversification. Currently, VMPC has 60% of its income from sales properties and 40% from rental properties.