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Thailand Property – Developers plan project launches as demand returns

By on Jul 12, 2014 in Property News, Residential

Second-half market growth of 10-15% now foreseen due to post-coup recovery in home-buyers’ confidence.  Residential developers have revised their business plans and will launch additional projects over the remainder of the year after witnessing a recovery in demand last month.  They now target second-half growth of between 10 and 15 per cent compared with the same period last year.  Such a boost over the remainder of the year means that the property market for the full year is now likely to decline by 10-15 per cent from the 2013 level, which would be a marked improvement on earlier estimates of a drop of between 25 and 30 per cent, according to leading developers.

Golden Land Residence, a subsidiary of Golden Land Property Development, has upped its presales and revenue targets from Bt2.19 billion and Bt1.9 billion, respectively, to Bt3 billion and Bt2.2 billion for the full year.  This is thanks to a return of confidence among home-buyers, said managing director Sanpin Suki.

LPN Development, meanwhile, plans to launch three condominium projects worth Bt7.4 billion, after witnessing a recovery in demand during June, said managing director Opas Sripayak.  “We believe the property market will recover in the second half of the year. However, the overall market for the whole year will still drop by between 10 per cent and 15 per cent because it fell more than 30 per cent in the first five months of the year,” he said.

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