Sansiri ups revenue target

He said that although the policy to offer tax reductions to buyers of first homes priced up to Bt5 million would affect only those who are in a high enough income bracket to pay personal income tax, it was better than no stimulus package at all.

“When the government has a stimulus package that is a bonus for people who are thinking of buying a home in the last quarter of this year, that will give them incentive to buy,” he said.
Meanwhile, the company has inventory of about 8,300 units worth more than Bt12 billion that are ready to transfer between now and the end of next year that will benefit from the policy.
If the government today approves another proposed policy, zero interest for the first two years of a mortgage on homes priced between Bt2 million and Bt3 million, that will further boost this market segment, Wanchak said.
“We have few customers [for homes] priced lower than Bt3 million, but we think this will help the lowincome market have an opportunity to have their first home,” he said.
He added that he did not have a perfect policy in mind to drive the property market, but these stimulus packages would help in the current fourth quarter. Therefore, Sansiri has revised upwards its 2011 revenue target by 510 per cent from the original figure of Bt20.5 billion.
Meanwhile, the company may delay launches of some of its new residential projects from the final quarter of this year to next year as its presales have been better than estimated, he said.
The company has launched 12 of the 23 residential projects in its current business plan, worth Bt30 billion.