Thailand’s Association for Real Estate Affairs (AREA) has revealed some interesting facts about Thailand’s property market during the first half of 2018.
The leading developer ranked by number of newly launched units was Pruksa, with 5,348 new units launch in 25 projects.
The total value of Pruksa’s new launches – some THB 19,559 billion – was 10 percent of the total new launches in the property market during the period.
Sansiri, who launched 12 new projects and 4,295 units, was ranked second by number of units but was ranked ahead of Pruksa with its new property market launches worth THB 22,801 billion.
This was noted by AREA as being 12 percent of the total value of new launches and 9 percent when ranked by the number of new launches.
Sansiri’s focus has been on the mid- and high-end of the market, hence fewer new units but with a higher value.
Elsewhere, Thailand developers Golden Land, Ananda and LPN all recorded more than 2,000 new launches each during the first six months of 2018.
Of the 20 highest ranked developers by number of new launches in the property market, 12 were listed on the Stock Exchange of Thailand.
AREA also revealed that Chinese developers are starting to penetrate the list of top developers with several companies responsible for more than 3,300 new units worth a combined THB 18 billion.
It also noted that the top-ranked 20 property developers were responsible for 75 percent of all new units that came to the market, and 79 percent by total value.
AREA said that currently, the chances for smaller developers in the property market is limited, especially where larger projects are concerned.
Now, with a reduction in consumer purchasing power, the focus of the market has changed from the high-end to a much lower price bracket.
AREA concluded that future changes may see previously high-profile developers disappearing from the most-active list and replaced with new entrants.
That will depend on individual business plans, AREA said, and how each developer can make use of advances in technology within their businesses.