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Thailand Property Developer Quality Houses – Set to miss targets?

By on Dec 07, 2015 in Property News, Residential

 

Bangkok Property Developer

Suwanna

Suwanna Bhuddhaprasart

The Thailand property developer, Quality Houses has admitted it expects to miss both presales and revenue targets this year because of weak demand in their target segment of luxury residential.

Senior executive vice-president Suwanna Bhuddhaprasart said the company might not achieve its revenue target of 22 billion baht and presales target of 23.6 billion this year, but she is confident the full-year result will be the same as last year after a successful final quarter.

The commercial banks have been applying far stricter lending rules especially for mid-range housing projects. Loan rejection rates have been around 50%.
Mrs Suwanna sais Quality Houses remained optimistic about high-end projects and expected revenue to increase. The government’s stimulus plans to slash transfer and mortgage fees for houses priced below 3 million baht is another condition that could spur the housing market, she said. Revenue from high end projects will gradually decrease over the next 3 years to represent only 20-25% of the total, down from more than 50% now, while the mid range segment will contribute 40% and premium economy the rest.

59381_6136_bababeachclubphuket-beachfrontvillaArticle Source: Bangkok Post, 27th November 2015
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