According to sentiments expressed at the recent “Thai Property Day” industry seminar, listed real estate firms Land & Houses (L&H) and Supalai are maintaining their business-growth targets for the year, despite a 3 to 10 percent drop in residential property presales during the first quarter.
Executives of L&H said that the company would maintain its 2014 presales target of THB 32 billion, up 6 percent from last year. Demand is picking up after a lacklustre first quarter, and the firm will launch 24 additional projects, comprised mostly of detached houses and condominiums, over the course of the year. Most presales income has come from its Lumpini Ville Onnut 46, Lumpini Ville Onnut-Pattanakarn and Lumpini Mega City Bangna projects in Bangkok. Projects in Cha-am and Hua Hin have been deferred to next year, given unfavourable market conditions.
Similarly, Supalai reported that it would stick to its residential presales target of THB 22 billion this year, up 8 percent from last year. Led by new launches, especially of low-rise projects, the company said that Bangkok sales are now back to a more normal level, after dipping in January and February. Provincial sales, however, are still down. The firm plans to launch 26 new projects this year.
