Low-Rise House Key Driver In Property Revenue Hits New Heights

The third-quarter presales and revenue of major SET-listed property developers reached a record high thanks to an economic resurgence fueled by tourists’ in the second half of this year.

Key SET-listed developers in Thailand, such as Supalai Plc, Sansiri, Noble, and AP development revenues, hit new heights in the third quarter of 2022.

The third quarter of 2022 saw Supalai Plc (SPALI) announce sales of 11.4 billion baht, the company’s greatest level since its creation in 1989, and a 51% increase Y-o-Y.

Supalai Plc reported a total revenue of 25.5 billion baht for the nine months, an increase of 37%, and is on track to reach 29 billion baht by the end of 2022. In the first three quarters of the year, Supalai Plc made 25 billion in presales.

SET-listed company Sansiri Plc (SIRI) ,chief operating officer, Uthai Uthaisangsuk stated, “the business raised its pre-sales target for 2022 to 47 billion baht, from the previous presales goal set at 35 billion baht.

He further said “Presales reached 18.5 billion baht in the third quarter, the greatest level since the pandemic, and increased by 200% year over year and 153% from the second quarter”.

The main factor behind the 60% growth over nine months was presales of 27 billion baht from low-rise houses, a 110% increase.

Noble Development (NOBLE) saw an improvement in the third quarter market mood, as presales and revenue saw year-over-year growth. Presales for Noble totaled 14.8 billion baht in the first ten months, a 136% increase over the prior year. In the initial nine months, revenue totaled 4.73 billion baht, with 2.2 billion in the second last quarter alone.

AP Thailand (AP), SET-listed company presales in the first ten months amounted to 45.4 billion baht, which was 90% of AP’s revenue target of 50 billion.

According to AP’s chief of corporate strategy and creation, “the key was low-rise houses with 36.1 billion baht in presales, up by 26% from a year prior. He further stated that presales in October of 2022 totaled 7.95 billion baht and was AP’s highest monthly figure ever recorded.

Property Developer listed on Thailand exchange fund, revenues in the third quarter hit new heights with growth year-on-year because of a few main factors with the country opening in July 2022, return of tourism, and, importantly, the key driver for all its presales of low-rise houses.