Bangkok condo project offers first buy-back guarantee scheme in region

Two Singapore-listed developers are offering a buyback scheme for a new condominium project in Bangkok.

Under the deal, buyers who are not satisfied with their units at The Surawong can sell them back to the developers at 95 per cent of the purchase price.

Developers Tee International and Hup Soon Global are launching the project in Singapore on Friday.

The Surawong comprises 52 freehold units, ranging from 40 to 80 square metres in size. Prices start from S$195,000.

The construction of the condominium is now underway, with occupancy scheduled for early 2010.

The buyback scheme is believed to be a first for the Singapore property industry.

Property consultant Savills said more may be in the pipeline.

Source : Channel NewsAsia – 25 Mar 2009

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