By Andrew Batt:
The Thai property sector in 2013 will be driven by strong backlogs and higher new housing registrations for condominiums, according to research published yesterday by a leading brokerage house.
Maybank Kim Eng Securities said: "New house launches are expected to increase at 11 percent year-on-year. Our eight covered property firms now have a total backlog of THB180 billion, which will be recognised through 2016.”
The broker also predicted that Thai listed developers Sansiri, Supalai, LPN Development and Raimon Land are expected to achieve record high Q4 earnings due to the condominium backlog in the second half of this year.
"Later this year we believe more projects will drive yearly new housing upward beating our previous target of 90,000 – 100,000 units," it added.
The company also upgraded its yearly housing registration forecast to between 105,000 to 110,000 units, up by more than 30 percent from its previous predication.
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