Habitat Group has built a reputation in Pattaya but the developer will shift its focus to the Bangkok property market next year. The company has plans to launch 5 new projects valued at THB5 billion combined in 2018 with several of these set for the Thai capital, local media reports.
“4 years ago we started property development in Pattaya, where competition was low compared with the Bangkok property market,” says Habitat Group Chief Executive Chanin Vanijwongse to the Bangkok Post.
The company could launch as many as 4 new projects in Bangkok next year with some also planned for Pattaya. The 1st development will be a luxury housing project located on Soi Ruamrudee in the city’s downtown area. It will be built on a 1-rai land plot and have 5 houses. Home prices start at THB50 million. The developer is targeting buyers who wish to move from old houses or smaller condo units.
There are also plans to build a low rise condo worth THB800 million in the Asok area. Units at this project will be priced at THB5-10 million but Habitat Group is still planning other aspects of this project.
Pattaya is where the company made a name for itself and Habitat Group has developed 5 residential projects worth a combined THB3 billion in the city during the past 5 years. It also plans to keep launching projects in the resort town. A new condo project worth THB800 million will be launched in Pattaya’s Wongamat area next month. One of the developer’s most notable features is its investment scheme.
“Every project we launch and develop in Pattaya will come with a rental programme in which we offer a guaranteed yield of 7% per year through the first 5 years. This concept got good feedback from investment buyers in Bangkok,” says Chanin.
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