Pruksa Real Estate has raised product prices by 5 per cent on average this year, despite the apparently sagging demand.
Chairman and president Thongma Vijitpongpun attributed the increase to the higher costs of land, construction materials and labour wage. In the second half of this year, the company plans 45 projects with combined value of Bt23 billion.
He foresees continued expansion in demand in the remaining four months of this year. Demand should rise by 5-7 per cent as expected and the combined value of sold properties should hit Bt320-Bt330 billion this year.
He is convinced that commercial banks’ stringent lending criteria, in light of high household debt, would not deter the real demand.
To see full article click here.