Many leading Thai developers have announced new project launch plans for 2022. The property market finds itself in an interesting spot as the source of demand and buyers’ preferences have changed radically over the past two years.
For starters, CBRE noted the Thailand property market is now dominated by end users which is a far cry from just a few years ago when investors were scrambling to purchase condo units. The needs of buyers are increasingly different as well with demand for housing currently driving real estate purchases.
These trends are reflected in what developers have planned for their new project launches this year. Many are focused on low-rise housing, although a few are jumping back into the Bangkok condo market.
Related: 4 things to know about Thailand property investment in 2022
New project launch plans for 2022
SC Asset
It could be a record-breaking year for SC Asset if it follows through on initial plans to launch 27 new projects in 2022. According to Chief Executive Nuttaphong Kunakornwong, it would be the highest total in company history. The homebuilder has aggressively expanded into the low-rise housing sector with the move having paid dividends. SC Asset has announced several sales records in the past 18 months driven by transactions for new homes.
Sansiri
Sansiri’s new project launch plans for 2022 are quite ambitious with the firm announcing that it will introduce 46 developments. This total includes 28 housing projects as well as 18 condominiums. According to Sansiri President and Chief Executive Srettha Thavisin, the developer expects to raise THB35 billion from presales and transfers this year.
Supalai
After an extremely busy fourth quarter in which it launched 22 housing projects, including four Bangkok condos, Supalai will stay active in 2022. The firm intends to launch 34 developments this year, 31 of which will be low-rise housing. Of that total, more than half are set to be located outside of the Thai capital.
Noble Development
Noble Development plans on launching 18 new projects this year with six being condos. The firm has already unveiled five condominiums: Nue Connex Condo Don Muang, Nue Z-Square Suan Luang Station, Nue District R9, Nue Z-Square and Nue Mega+ Bang Na. These feature starting prices at THB3 million or less with all but one located in suburban Bangkok.
CPN
Thailand retail giant CPN will continue its expansion into residential real estate by launching four condominiums and two housing estates in 2022. The most notable development is a high-rise condo in Ayutthaya that will be the city’s tallest. The developer is expected to spend THB3 billion on the projects.
Read More: CPN to launch the tallest condo in Ayutthaya
Land & Houses
Land & Houses is focusing almost exclusively on the low-rise housing market this year with 14 of the homebuilder’s 15 launches coming in this segment. The lone condominium development will be located on Rama II Road. According to the Bangkok Post, current plans call for the firm to launch one project in Nakhon Ratchasima and two in Ayutthaya.