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The Most Trusted Bangkok Condominium Developer

By on Jun 06, 2016 in Property News, Residential

The SET-listed Bangkok condominium developer, Sansiri Plc is seeking to become the Thai property company most trusted by foreign investors. Impressively it has built up 1.5 billion THB in sales to foreigners in the first 5 months of 2016. This is a huge increase from 800 million THB in the same period last year. Most overseas buyers were from Hong Kong, then mainland China and last was Western countries (200 million THB).

Sansiri’s Mori Haus project on Sukhumvit Soi 77 in Bangkok was the most popular due to the location being close to the international school, community mall, expressway and the skytrain. Some of the resort condo projects in Pattaya, Phuket and Hua Hin also hit above-target sales.

The Sansiri president, Strettha Thavisin said that after becoming Thailand’s most trusted brand, the company was working towards achieving this in the foreign community. Sansiri regularly holds overseas launches for Thai projects.

“The main objective for purchases as cited by Hong Kong and Chinese customers was for investment, with Bangkok and resort areas being the main targets for their attractive returns on investment,” Mr Srettha said. “Meanwhile, Western buyers look more towards owning vacation homes that can be rented out for profit while not occupied.” “Our marketing effort this year will focus on Hong Kong and China due to the fact that the monetary volatility and high costs of property investment in these territories have been inducing investors to turn their eyes to Thailand, where the returns from rents are higher but the cost of investment is 2 to 4 times lower,” Mr Srettha said.

Sansiri is launching the Bangkok condominium development, The Line Asoke-Ratchada condo on June 11-12 simultaneously in Hong Kong, Singapore, Taiwan and China. The presales target is 600 million THB.

Source: Bangkok Post, 27th May 2016
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