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After rebates and freebies, Thai developers to auction flats online in bid to shake off supply glut

After dangling rebates and freebies to attract buyers, Thai developers are trying out a new strategy to trim their inventory of unsold homes by auctioning them online at deep discounts.Some 120 flats in several projects across the Southeast Asian country will be made available for bidding next month on whyborder, an online property portal owned and operated by a Singapore-based company. The flats are expected to be offered at 20 to 40 per cent below their selling prices.The apartments range…

Read the original article at South China Morning Post

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