Raimon Land is the latest Thai developer to announce that that it is looking to increase the number of joint ventures it is a part of and added that it will target both domestic and overseas investors to create these.
The developer’s vice-president of marketing, Kipsan Beck said that several foreign companies were interested in forging joint ventures. “We are studying the feasibility of joint ventures with partners who share the same policy to be the leader in Bangkok’s high-end property market,” he stated.
At the moment, Raimon Land is looking to purchase two land plots in Bangkok’s central business district (CBD) with the goal of building two luxury projects at these sites. According to the Bangkok Post, the plan is to launch both of these proposed project by 2017.
“Demand in the luxury segment remains very strong in the CBD area, as the purchasing power of consumers in this segment remains intact and unaffected by the country’s economic slowdown,” Beck added.
However, the middle-end residential segment in Bangkok is still facing a greater risk of transfer failure as financial institutions continue to reject more and more customers. Speculation is another area of concern for Bangkok’s property market and Raimon Land will continue to require high down payments as it looks to avoid transfer failures and deter speculators.
Raimon Land now requires a minimum downpayment of 25 percent of the selling price for the middle-priced segment and up to 40 percent for high-end homes. Beck noted that the company’s transfer failure was less than one percent. The overall transfer failure rated in Bangkok’s property market is estimated to be around 10-20 percent.
The River, 185 Rajadamri, Zire Wongamat and Unixx South Pattaya are the company’s four active projects while it is planning to launch The Lofts Ekkamai, Mews Yen Akat and The Loft Asoke this year.
