More than 500 properties with a combined value of more than THB10 billion will come under the hammer at a two-day property auction in Phuket this weekend.
The live auction event, organised by the Phuket Real Estate Association, will take place at Boat Lagoon Resort between 9am until 4pm on Saturday, May 17, and Sunday, May 18.
Thanusak Phungdet, President of the Phuket Real Estate Association, told DDproperty.com that his organisation plans to hold similar auctions at least twice a year if this event is successful.
The organisation believes the auction will help boost the Phuket property market.
Highlights of this weekend’s auction include 72 units at Art Patong, ranging in size from 27.11 sqm and discounted by up to 30 percent with prices starting at THB2.9 million. Some 28 units at the Pine and Palm Building at the Karon Hill development (pictured) priced from THB3.3 million will also come under the hammer at up to 25 percent discount.
A total of 29 units at Phuket Villa Patong, ranging in size from 42 sqm to 81 sqm and priced from THB3.8 million will also be auctioned at up to 40 percent discount, as will 35 units at The Wide where discounts will start at 32 percent and prices from THB1.35 million.
Another auction, this time using the sealed bid method, will take place towards the end of the month where land plots and hotel properties will be featured, according to the Phuket Real Estate Association.
For more information email: prea.auction@gmail.com.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg