“The LED, which organises auctions of financially-distressed properties, much of which are due to unpaid bank loans, will hold auctions for Phuket properties over the coming months,” said Director of Phuket LED Kantamon Tanwan.
She continued, “There will be 178 listings of properties up for sale with a total value at B1.6bn. Properties available include 27 plots of land valued at B688 million, land with structures valued at B838mn and 42 houses worth B101mn.”
She added, “We will have six separate auctions, one on Nov 28 and another on Dec 19 in the Jamjuree Room of the Phuket Merlin Hotel. Next year we will have four auctions, the first on Jan 9, then Jan 30, Feb 20 and the last on Mar 19 at the Phuket LED on Wirathongyok Rd. Auctions will start at 10 am.”
Ms Kantamon explained that the LED, under the Justice Ministry, is responsible to auction off properties which have been obtained under civil case enforcement, bankruptcy cases, reorganisation, liquidation and deposit of property.
“These days, business is sluggish which hurts the economy. People accumulate more dept while their income shrinks. A lot of people can no longer afford to pay mortgages, debts or living expense, and as a result LED have more civil cases lined up and legal execution cases on its way.
“Our department has to get sell off the listing of properties that we have in house to put money back to the market,” she concluded.
For more information please call: 076-522-218, 076-522-220 or fax 076-522-219.