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Luxury Bangkok Condo Developer Confident of Stimulus Boost

By on Apr 07, 2016 in Property News, Residential

The luxury Bangkok condo developer Pruksa Real Estate Plc (PS) expects to secure in excess of 9 billion THB in Quarter 1 2016. Much of this is expected to be because of the 2 government stimulus measures.

The Chief Operating Officer, Lersuk Chuladesa said property tax incentives and the low priced housing scheme had helped boost housing demand in the middle to lower priced segment, where Pruksa is strong and controls a large market share.  “We are confident in housing demand in the middle-to-lower-end segment and are not worried about the customer’s ability to get a unit transferred as we have pre-approval measures in place to help screen customers,” Mr Lersuk said.

This year this luxury Bangkok condo developer is planning to launch 4 projects under the Plum brand. Unit prices will range from under 1 million to 1.5 million THB. “Our plan to launch 7 condo projects worth a combined 12 billion THB this year remains on track as economic sentiment is improving, unlike last year when we postponed the launch of 4 condo projects,” Mr Lersuk said.

Of the targeted revenue, 27% will be from condo transfers, down from 33-35% last year.
Source: Bangkok Post 30th March 2016
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