Thailand Property: Bangkok Real Estate Developers Cope Up with the Market

May 20, 2019 Thailand

Thailand property developers are refocusing and reworking on their strategy. Why? Because the Bangkok condo market has declined due to new payment regulations and unsold properties for sale.

With the current state of Thailand property market, real estate developers set new focus to target more Bangkok condo property investors and to generate feasible income.
With the current state of Thailand property market, real estate developers set new focus to target more Bangkok condo property investors and to generate feasible income.

New direction

According to the latest stories of Bangkok Post, Pruksa Real Estate Company Limited and AssetWise Company Limited are the two project developers who made an adjustment in terms of price and target market.

As a result of the current market status, Pruksa Real Estate Co., Ltd. is currently working on middle tier Bangkok condo projects. The company made the move since they found out that presales in all segments are not doing well. Unlike in the lower-priced segment, properties amounting at 1 million baht are getting more revenue.

In the same way, AssetWise Co., Ltd. will also work on condominiums which will be at least lower than 2 million baht. The strategy was put together since AssetWise spot the opportunity for affordable Thailand property. As per company’s research, buyers have the money it’s just that they tend to rethink because of the increase in initial payment.

What to expect?

Even if the Bangkok real estate market is not stable, developers are still building condos that will meet the lifestyle and budget of investors.

Design, amenities, and quality of new high-rise condos are not compromised. Looking at Chapter Chula-Samyan of Pruksa Real Estate Co., Ltd. and Atmoz Chaengwattana of AssetWise Co., Ltd. both are exceptional.

The difference is that these affordable residential properties only offer studio, 1 bedroom, and 2-bedroom units. Nonetheless, fitness center, swimming pool, skyline deck, leisure garden, and 24 hours security are still available.

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