The listed developer Property Perfect Plc (PF) is adopting a housing customisation strategy to boost sales and hopes to earn two billion baht from the new strategy, according to managing director Chainid Ngow-sirimanee. He said customisation would allow homebuyers to choose the house type, style, theme, colour, materials, roofing, garden, wallpaper, function and floor type for the same unit price.
''This is the first time in Thailand that a developer has offered home customisation and we expect it will be a new housing trend,'' he said, adding that customisation would be offered in its nine existing projects with unit prices between 3.21 million and 4.26 million baht.
Mr Chainid said the company aimed to sell 600 units worth two billion baht from the new strategy. It expects average presales of 8-8.5 billion baht and eight billion baht in realised revenue by the end of the year.
About 7.5 billion baht would be from housing sales and 500 million from establishing a property fund, scheduled to be launched by the third quarter, he said.
Assistant managing director Teerachon Manomaiphibul said that the company planned to develop more detached houses next year with unit prices of three million to five million baht as the single house supply in the market decreases.
The Agency for Real Estate Affairs has reported that the supply of newly launched low-rise units during the first three months of the year dropped from the same period last year while condominiums rose 103%.
The number of newly launched single houses from January to March 2007 totalled 1,379 units, down 62% from 3,643 units last year. Meanwhile, 2,724 townhouses were launched, down by 19% from 3,379 units last year.
On the demand side, single houses were the only segment that showed a decrease in registrations during the first three months, a reduction of 20%, while those of townhouses, duplex houses and condominiums rose by 14%, 497% and 840% respectively.
''We're confident that single houses will rebound as lower interest rates add to people's purchasing power,'' Mr Teerachon said.
Mass transit projects may also influence homebuyers to consider low-rise units priced the same as high-rise units but with a more liveable environment.
Currently, PF has more than 2,000 rai of land near future mass-transit lines for housing developments worth as much as 50 billion baht. Its average unit price will decline from 3.6 million baht last year to 3.2 million this year.
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Affordability
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Availability of Quality Developments
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