One of Thailand’s top property developers, AP. has announced that 2017 will see a substantial 85 percent year-on-year increase in its presales revenue.
The THB 41.6 billion revenue announced by AP is 85 percent higher than the figures it saw last year.
AP also predicted the middle- to high-end sectors in the Thailand property market will see greater supplies in 2018, while low-rise projects will continue to be of note.
For condominiums, AP said the key to success lies in detailed segmentation.
Condominiums that are art of the firm’s joint venture with Mitsubishi Estate Group has 11 projects, with average presales standing at 85 percent. Four projects have been completed and ready to move in.
During 2018, AP and Mitsubishi Estate Group will continue to work together to provide the public with more condominium design innovations, the compnay said.
It expects the property market during 2018 to be in line with the country’s economic growth.
Industry competition will continue to be concentrated among the major players, who will adapt their strategies to suit economic circumstances.
Supplies in the middle- to high-end segments will continue to be well-accepted by consumers with continuing high purchasing power, the developer predicted.
Launches of low-rise products will continue to be of special note.
Sounding notes of caution, it added that the situation will be quite worrisome for low-end condominiums due to the glut in supplies of completed projects.
The emerging role of technology is another challenge that Thailand’s real estate industry will have to contend with, and to understand and keep abreast of the future needs of target customers.
During 2017, the developer launched 25 new projects of which nine are single detached house projects, 13 wee townhome projects and three were condominium projects.
As at 15 December 2017, the company revealed record total presales of THB 41.6 billion. Low-rise developments accounted for THB 14.525 billion with condominiums accounting for THB 27.075 billion.