Seacon Home Group believes the overall real estate market sentiment has improved since October and is now confident that it will earn more in sales next year, according to local media. The company estimates that it will earn THB1.3 billion this year but claims that its sales in 2018 could be as high as THB1.5 billion.
“Before October, we were not confident about consumer sentiment. But sales in October and November resumed after the SET index rose. The segment that recovered most quickly was the middle, units priced between THB8 million and THB15 million,” says Seacon Home Group Managing Director Supitcha Chaipipat to the Bangkok Post.
The purchasing power in the mid-priced segment during the last 2 years was strong but buyers weren’t confident in making big purchases or investing in large products such as the building of a house, Seacon Home Group’s core business. In November, the company sold 27 units for THB136 million, surpassing its monthly target and it expects the momentum to carry over into the last month of this year and into next year.
Seacon Home Group group introduced several innovations, such as elderly care and active airflow to units, to help it capture new demands from consumers. The company will also keep using prefabricated pieces as it looks to reduce its dependency on labour.
“We will cap unit prices until March next year and will review costs in mid-2018 before raising prices. The government’s spending on megaprojects will affect housing prices as the labour force and some construction materials are drawn to the megaprojects,” says Supitcha.
In addition to this, the company redesigned its website in order to look more modern and attract younger buyers. Seacon Home Group also has plans to invest THB10 million in renovating its 5 showrooms in Bangkok as well as its shop in Chon Buri.
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