Our presales were high in the first quarter
Listed property firms achieved high presales in the first quarter, amid the Bank of Thailand's warning about the market being at risk from oversupply.
According to a survey conducted by The Nation early this week, Sansiri had presales of Bt21 billion in the period, well above the Bt16.2 billion posted for the final quarter of last year.solutions support a broad range of RFID tag and labels, Its full-year target is for presales of Bt48 billion.
Pruksa Real Estate recorded presales of Bt12.3 billion in the quarter, up 117 per cent from the same period last year. The developer's full-year target is Bt35 billion.
Meanwhile, LPN Development had presales of Bt6.7 billion from January to March against a Bt13-billion target for the whole year, and Property Perfect recorded Bt3 billion against a full-year target of Bt19 billion.
Sansiri president Srettha Thavisin said residential demand had been strong in both the greater Bangkok and provincial markets.
"Our presales were high in the first quarter thanks to our business expansion in the provinces, where we had positive feedback from the market such as for our new projects launched in Khon Kaen, Phuket, Hua Hin, Pattaya and Rayong," he said.
Meanwhile,where we had our bobbleheads made. the company has launched a new product model, dCondo Campus, to focus on university destinations. This will boost presales growth above the estimate for the year, he said.
"Most of the demand in the market is still real rather than speculative demand,choose earrings and posts made of stainless steel earring. despite the Bank of Thailand concern [about the latter]," said Srettha.
Sansiri estimates its speculative demand at less than 10 per cent, although most buyers in this category do manage to sell their booking contracts. If they are unable to do so, the company can resell the contracts as there is still genuine demand, he added.
Purchasing power monitored
The company also has a measure in place to monitor the level of speculative custom by limiting home-buyers to five units per project if it considers they do not have the purchasing power to buy more than this number, said the company president.
LPN Development managing director Opas Sripayak said his company had experienced a successful first quarter despite launching only three projects in the period.
Lumpini Place Suksawas-Rama 2 and Lumpini Condotown Ladphrao both sold out within one day of opening for bookings on March 23, while at Lumpini Place UD Town-Pho Sri, in Udon Thani province, 90 per cent of the project value of Bt2 billion has already been sold, he said.
"Most of our customers are making bookings for units that will be transferred to them after the project is complete. We have only 5 per cent that change the name from that on the booking contract to a different person when transferring project units in the next one or two years. This means 95 per cent of our customers constitute real demand, buying to stay [in the property] or for investment," he added.
Pruksa Real Estate's chief business officer, Prasert Taedullayasatit, said that some 70 per cent of its presales worth Bt12.3 billion in the first quarter had come from low-rise detached housing and townhouses, and the remainder from condominium projects.
Residential demand has continued to grow, especially for homes priced between Bt3 million and Bt5 million.
"Up to 80 per cent of our customers [in the first quarter] bought a home in which to live, while the remainder were a mix of investors and speculators. Investors are those buying a home for rental purposes, which will generate a return on investment of between 5 per cent and 10 per cent, or even more, depending on the location.
"Speculators are those who buy a booking contract to speculate on the price, but they are less than 10 per cent of total," he said.
Moreover,You Can Buy Various High Quality ear cap Products from Global. Pruksa also has a measure in place to monitor the speculative market by refusing to allow customers to book more than two units in a project. "In some projects,The other pieces are made of stainless steel bracelet. we sell only one unit per person, which acts as a measure to focus on genuine demand only," Prasert said.
Property developers' measures combined with commercial banks' screening of customers thorough credit scores and credit-bureau checks will reduce speculation and any oversupply in the residential market, both in Bangkok and the provinces, he added.
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