President of the Thai Condominium Association, Prasert Taedullayasatit, who is also Pruksa Real Estate’s condo-group managing director said that Pruksa achieved presales that were 54% higher than what the previous year generated; having grown from 8.9 billion baht to 12.65 billion baht. This demand, he said, is largely due to the demand returning to the market after a volatile 2014, especially for mid-to-upmarket condos priced between three and ten million baht.
LPN Development’s managing director, Opas Sripayak said that they plan to launch more condominium projects in the second quarter, having just launched one in the first three months of the year. The company also noted that, according to the Housing Finance Association, customer’s buying power is recovering as well, with the residential sector’s mortgage-application rejection rate in the first quarter coming in at about 30 percent. LPN’s customer’s rejection rate was only 5%, which is much better than their average of 10% from the previous year.
SC Asset was the residential developer that performed the best with detached houses, selling more than 3.67 billion baht worth of housing. This made up 22 percent of the total luxury housing market, with the company’s sales representing 26 percent of total business of all publicly listed residential developers.