Pruksa Real Estate could earn as much as THB 15 billion in presales during the 2nd quarter, up from the THB 9.82 billion the company made in the same period last year. Pruska saw 32 per cent growth in presales in the 1st quarter of 2017 after a slow 2016.
The company launched 11 new projects worth a combined THB 10 billion in the 1st quarter of the year. It earned THB 13 billion in presales during this time as it has found ways to ensure buyers obtain mortgages. Pruska has encouraged clients to regularly deposit money into a bank account to build a good financial record and has several other pre-approval measures in place. This has allowed the developer to keep its bank rejection rate at 8 per cent, much lower than the average in the country.
“High household debt remained a problem in the 1st quarter, but we’ve already prepared measures to assist homebuyers in more easily securing mortgage loans,” says Pruska Chief Executive Piya Prayong to local media.
The company launched a small number of new projects in the 1st quarter of last year in order to focus on unloading unsold units at completed projects. Pruska did this to take advantage of the property tax incentives implemented by the government which lasted until April of 2016.
Pruksa expects to launch 23 new projects worth a combined THB 17 billion in the 2nd quarter of 2017 and it believes it can earn THB 4 to 5 billion per month during this time. The developer is going to launch 15 townhouse projects, 6 single-house sites, and 2 condo developments. There are plans to launch 72 residential projects in total this year with these developments worth THB 60.8 billion. Pruksa’s presales target for 2017 is THB 52.9 billion.
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