Developers in Bangkok are ready to start launching residential projects again and The Nation reported the planned launches that will happen between now and the end of 2016 are worth more than THB200 billion combined. A number of developers in Thailand pushed back project launches to start off this year to focus on selling current inventory.
Pruska is planning to launch 63 projects during the remainder of this year as the developer looks to boost its yearly pre-sales totals. Pruska has set a target of THB47 billion for pre-sales in 2016.
“We launched only eight projects in the first four months of the year because we speeded up sales from our inventory to match the government measure to reduce transfer and mortgage fees to 0.01 percent, which expired on 28th April,” Prasert Taedullayasatit, Pruksa Real Estate’s president for premium business, explained to the newspaper.
Sansiri is looking to launch seven projects worth a total of THB13.2 billion during the first half of this year, The Nation added. The developer will launch ten additional projects in the second half of 2016. Sansiri only had four project launches in the first quarter and earned THB5 billion in pre-sales from these projects. President Srettha Thavisin told The Nation that Sansiri believes growth in residential demand is likely to occur this year despite the fact the government stimulus measures for the real estate sector are no longer in effect.
Another developer looking to start launching projects this year is Quality Houses, They revealed intentions to launch 13 new projects during 2016 after a slow first quarter where QH only launched two developments.
“We will accelerate the launch of new projects during the rest of this year now that the government’s stimulus package for the property sector has expired,” chief executive officer Chadchart Sittipunt stated. “We believe our pre-sales will hit the full-year target of THB21 billion, after recording presales worth THB4.4 billion in the first quarter.”
