Developers focus on condo launches to boost presales
Property firms plan a host of condominium project launches in order to boost first-half sales, in line with stronger demand growth than currently being experienced for low-rise |homes.
Sansiri plans to launch the Bt800-million second phase of its dcondo Kratoo-Patong project in Phuket from January 27-29, following the successful launch of the first phase last October.
Lalin Property has introduced its first condominium, the Bt500-million Levo at Lad Phrao 18 in Bangkok, with presales already reaching about 40 per cent of the project value.
Meanwhile, Quality House plans to launch four condominiums worth nearly Bt3 billion combined under the Trust brand by the middle of the year. These are additional to 23 residential projects worth Bt21.35 billion in total already planned for this year.
Pruksa Real Estate will launch a minimum of 10 condominium projects worth at least Bt7 billion in the first half, on top of 50 residential projects worth Bt35 billion already tabled for this year.
Infinite Real Estate plans to launch a Bt700-million pet-friendly condominium complex at Lat Phrao 101 in the first half of the year.
These projects are focused on home-buyers who seek a second property, fearing a repetition of last year’s severe floods.
Sansiri president Srettha Thavisin said the company was now targeting presales of Bt28 billion this year, about 16 per cent higher than the Bt24 billion achieved last year.
The company sees strong demand for residential projects in Hua Hin and Phuket, as a result of which it will focus on launching the both high- and low-rise projects in both destinations this year.
“We also will have the next projects [after the second phase of dcondo Kratoo-Patong] in the second half of this year, both in Phuket and Hua Hin,” he added.
Lalin Property director Churat Chakarakul said that since the severe flooding hit Bangkok and its suburbs last year, demand to buy a condominium as a second home at locations close to mass transit had shown strong growth.
As a result, the company has introduced its first condominium at Lad Phrao soi 18. The starting price is Bt1.8 million for a unit with utilisable space of 27 square metres.
Lalin achieved residential presales of Bt2 billion last |year, against a target of Bt2.15 billion.
