Sansiri is expecting to see significant growth from its luxury housing business and plans on launching more developments in this segment. The homebuilder revealed low-rise housing sales and transfers could increase by 15 percent in 2022 with the sector being unaffected by ongoing economic issues.
“Low-rise houses priced THB10 million and above have shown a positive sign since last year,” Khun Anat Kittikulmethi, Sansiri Deputy Managing Director of Project Development for Low-Rise, told the Bangkok Post. “Demand is on the rise but supply is limited, particularly in locations close to the central business district.”
The developer recorded THB2 billion in low-rise luxury home presales during the first quarter which accounted for more than 40 percent of all presales in the low-rise housing segment. Sansiri has readjusted its plans to ensure it is better positioned to capture demand.
A total of six new low-rise luxury housing projects will be launched this year with these valued at THB9.6 billion combined. Khun Anat points out finding the right location for high-end developments is critical to their success.
Sansiri is scouting locations in Bangkok’s eastern suburbs with Bang Na, Phatthanakan and Krungthep Kritha all being considered. Additionally, the firm is looking at the viability of the Rama 3 and lower Ratchaphruek areas in the Thai capital.
Sansiri also sees potential in affordable condos
While Sansiri is predicting growth in luxury housing this year, it’s also staying active in the affordable condo segment since demand here is steady as well. The developer plans to launch 12 projects this year with these falling under its Condo Me, The Muve and Dcondo brands. Prices for these projects all start at less than THB2 million.
“Units priced less than THB2 million are an affordable segment which we will continue tapping this year after posting a good sales and transfer rate last year,” Khun Ongart Suwannakul, Sansiri Assistant Executive Vice-President for Project Development Department (High Rise), reported.
