Developers have seen demand start to recover after the 1st quarter of this year and they are planning to launch more than THB 50 billion worth of new residential projects in the 2nd quarter to meet the increased demand, local media reports.
There are 4 new projects set to be launched by Sansiri this quarter while AP, Origin Property and Supalai are all also ready to launch 4 projects during this time. Golden Land Property Development is only going to launch 2 new projects worth THB 2 billion in the 2nd quarter.
Pruksa Real Estate has the biggest plans as the company could launch as many as 23 new residential projects worth THB 17 billion during the 2nd quarter as part of the 72 new residential projects worth THB 60.8 billion it plans to launch this year.
The company saw residential property demand grow 14 per cent in the 1st quarter when compared to the same period of last year. Presales growth was also strong with Pruska earning THB 13 billion in the 1st quarter of this year, an increase of 14 per cent from last year’s presales.
For Sansiri, the developer recorded good presales in the 1st quarter as well, bringing in a total of THB 7 billion with nearly 20 per cent of this sum coming from foreign buyers. The company has also seen demand grow and hopes to earn THB 10 billion in presales during the current quarter.
“We are confident that the country’s economy in the 2nd quarter will be better than in the 1st quarter, thanks to the government policy to boost the country’s economy by investing in infrastructure projects and promoting the tourism sector. This will drive demand for residential property in the 2nd quarter, maintaining the momentum of the first quarter,” says Sansiri President Srettha Thavisin to The Nation.