Several listed developers are predicting a property market expansion of at least 5 per cent this year after they recorded significant growth in the 1st quarter of this year, reports local media. A total of 9 companies recorded strong gains in net profit when compared to the first 3 months of 2017.
AP Thailand revealed that it posted solid growth in the 1st quarter of 2018 with net profit growing by 47 per cent. The healthy performance, coupled with a business plan adjustment to be more assertive in the low-rise sector, has allowed AP Thailand to bring in pre-sales and realised revenues that beat its initial expectations.
“The overall market outlook is very good, especially in the low-rise sector. We have seen better and better pre-sales and realised revenues for AP’s low-rise products over the last few quarters. So, we have readjusted our business plan by launching several new projects. In 2018, AP will launch the highest number of new projects since its inception,” says AP Thailand Chief Executive Officer Anupong Asavbhokhin to the Nation.
Origin Property Chief Executive Officer Peerapong Jaroon-Ek is also optimistic about the Thailand real estate market. Origin saw a net profit of THB488.9 million in the 1st quarter of this year, which was up 184 per cent from the same period last year. The company had a lot of success in transferring units to customers and this helped it in 2018.
“We also had success on the pre-sales front, with a take of THB5.09 billion in the first quarter – up 255 per cent from the same period of last year that. This is thanks to the strong demand in the residential market, enjoying a recovery in line with the improving economy. This also will drive our pre-sales to THB20 billion and total revenue to THB15 billion by the end of this year,” says Peerapong.