SC promotes rent-to-own strategies

Sluggish market forces firm's hand

- KANANA KATHARANGSIPORN

Visitors evaluate mortgage deals at a GH Bank booth at a previous edition of Money Expo. SC is offering rent-to-own schemes to customers interested in its residential units, but unable to secure a mortgage approval.

(PATIPAT JANTHONG)

SET-listed developer SC Asset Corporation is adapting to a sluggish housing market, offering rent-to-own options for buyers struggling to secure mortgages and selling show units from the start of project launches.

Chief executive Nuttaphong Kuna-kornwong said the economic slowdown has softened housing demand, leaving some prospective buyers unable to afford a home and others delaying their decision despite having sufficient means.

"We must take every reasonable step that helps customers move forward," Mr Nuttaphong said, adding that hesitation and weaker purchasing power are increasingly shaping the market.

"We start with customer behaviour -- preferred locations, desired features and technologies -- and adjust our projects accordingly rather than beginning with financial considerations."