Sansiri, one of the largest real estate developers in Thailand, expects significant growth in elite housing and plans to launch more projects in this segment. The developer said that sales of low-rise housing can increase by 15% in 2022, while current economic problems won't have an influence on the sector.
According to Mr. Khun Anat Kittikulmethi, Deputy Managing Director at Sansiri, low-rise buildings worth 10 million baht and above have shown positive growth since last year. Even as demand grows, supply is limited, especially in locations close to Bangkok’s Central Business District.
In the first quarter of this year, the developer recorded pre-sales of low-rise luxury homes for the amount of 2 billion baht. This is more than 40% of all pre-sales in the low-rise segment.
Overall, six new low-rise elite residential projects with a total value of 9.6 billion baht will be launched this year. Mr. Khun Anat notes that finding the right place for high-end developments is crucial to their success.
Sansiri is looking for locations in Bangkok's eastern suburbs, including Bang Na, Phattanakan, and Krungthep Kritha.
While Sansiri forecasts growth in premium residential units this year, it is also active in the segment of affordable apartments. Demand remains stable there. This year, the developer plans to launch 12 projects under the Condo Me, The Muve, and Dcondo brands. All projects have apartments for under 2 million baht.