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Bangkok Property Listed Firms Eye Strong Growth

Listed Bangkok property companies are confident their financial results will reflect strong market growth over the rest of the year. The growth is expected to be as a result of the government’s stimulus efforts and an increase in the acceleration of Thailand’s economic recovery.

Developers are optimistic because of the quarter 1 financial results which showed strong growth due to the government measures to reduce transfer and mortgage fees to 0.1%. This measure has now expired.

“We estimate total market-value growth of at least 8% this year, worth Bt383.18 billion in Bangkok and its suburbs, after witnessing strong demand for homes priced up to Bt5 million during the first 4 months,” said Pruksa Real Estate’s president of value business, Piya Prayong.

Sansiri are also confident in the greater Bangkok property market showing strong growth this year, estimating expansion of between 5 to 10%, Chief Operating Office Wanchak Buranasiri said.

SC Asset Corp’s Chief Executive Officer, Nuttaphong Kunakornwong, said the government’s measure to cut transfer and mortgage fees to 0.01% from October last year through to the end of April had boosted overall property market growth in quarter 1. SC Asset had presales worth THB 2.63 billion in quarter 1 and the company plans to launch 2 residential projects worth THB 1.66 billion combined during the current quarter, focused on the middle and upper-market segments.

Out of the top 10 listed property firms there are 9 which have reported both revenue and net-profit growth.

Source: The Nation, 20th May 2016
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