Just one week after selling its entire foreign quota in simultaneous overseas roadshows, property developer Sansiri has revealed it has now completely sold all 291 units at its latest development – The Line Sukhumvit 71 – following sales events in Bangkok last weekend.
This is the third consecutive development the company has sold-out in the space of just days,
After achieving sales from Hong Kong, Singapore and Taiwan worth nearly THB 1 billion, the company reported sales of THB 2 billion to Bangkok buyers and investors last weekend (August 8/9). The company has now exceeded combined sales revenue of more than THB 18 billion this year, is said in a statement.
Uthai Uthaisangsuk, Senior Executive Vice President of Business Development and Project Development Division (High Rise) for Sansiri, said the project – a joint-venture under the BTS Sansiri Holding Three Limited company – saw more than 1,500 visitors to its overseas events earlier this month, with interest interest exceeding the quota set for sales abroad.
This, he said, made it necessary to increase the number of units open for sale to overseas buyers. He attributed the demand to recognition that Thailand real estate investments, especially in Bangkok, require lower investment capital with returns as high as between 5 percent and 7 percent – much higher than in their home countries.
He also noted that overseas real estate agents noted how Sansiri set a record high sales level for a Thai developer with sales of this project in such a short time.
Meanwhile Thailand-based customers showed equally keen interest for units at The Line Sukhumvit 71 during its sales debut in Bangkok. The success, the company said, came from its prominent design as a high rise condominium that comes fully furnished with the concept “Opportunity is Everything, Location is Everything”. It also described the project as being a residence of the future with the potential that comes with being 400 meters from Phra Khanong BTS station and connections to the lifestyle hotspots of Ekkamai and Thonglor.
“Trends for condominiums in the latter half of this year are expected to continue growing accordingly to the gradual recovery of the country’s overall economic conditions,” noted Uthai.
“Sales of condominiums priced in the upper tiers should remain robust from the continual purchase power of customers who still have the buying strength and demand.”
Revealing his thoughts about that makes a successful development, he added: “The essential factors that will contribute to developing a successful project are the potential of the location and the project design that accommodates needs of the customers.
“Sansiri is still committed to developing projects in promising locations and satisfying the needs of our
Image: Thai buyers at The Line Sukhumvit 71 last weekend. Courtesy of Sansiri.