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Home Buyers Stimulus Package Boosts Share Prices for Developers

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The package for property aims to reduce home buyers costs. The government will offer a cash-back of Bt50,000 per home buyer on the down payment.

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Share prices of several listed property developers rose today (November 26) after Cabinet’s announcement of a stimulus package for the sector, including the offer of Bt50,000 in cash-back to home buyers.

The price of AP (Thailand) or AP rose 5.30 per cent to close at Bt6.95 as Supalai (SPALI) climbed 4.09 per cent to end at Bt17.80.

Ananda Development (ANAN) surged 3.52 per cent to close at Bt2.94. L.P.N. Development (LPN) gained 2.14 per cent to Bt4.78 at the close.

Share prices of Pruksa Holdings (PSH) inched up 0.64 per cent to Bt15.70 as Origin Property (ORI) rose 1.42 per cent to close at Bt7.15.

SC Asset Corporation (SC) share prices closed at Bt2.32, up 0.87 per cent from Monday’s.

Earlier today, the Cabinet had approved three new stimulus packages to prop up the softening economy.

The package for property aims to reduce home buyers costs. The government will offer a cash-back of Bt50,000 per home buyer on the down payment.

To be eligible, the buyer must have a monthly salary not exceeding Bt100,000. They also must be included in the Revenue Department’s tax database under this category. The campaign will start November 27 and end on March 31, 2020.

Source: The Nation