The chief executive officer of Pruksa Real Estate, Piya Prayong, said that although the company has reduced the weight of investments in housing and condominiums to 23 projects in 2023, but the cost of the project is still high - about 23.5 billion baht. The company is one of the ten largest real estate brands in Thailand, so it adjusts investment strategies after the elections in the second half of this year.
This year, Pruksa will set a budget for the purchase of 16-20 plots of land for future projects, the cost of projects is 20 -30 billion baht, the construction is designed for 2 years.
Basically, the company will focus on the construction of low-rise buildings, not condominiums, focusing on prices of 10-50 million baht, will not build houses for a hundred million baht. The main price group is 10-20 million baht through the brands Ban Passorn and The Palm.
The main reason is that customers with an income of less than 30,000 baht can hardly get a loan to buy a home. Projects with housing worth less than 2 million baht will be developed for this category of citizens.