The lower-than-expected revenue of property developers in the first half of the year forces them to re-evaluate and change the strategy for the second half of the year. According to the survey by Prachachart, only 4 out of 12 property developer companies have made sale above 50% of this year’s sales target, which are AP (Thailand), Prueksa Real Estate Plc, Nusasiri, and Suetrong Group. While many developers are optimistic that the economy will pick up in the second half of the year and help with the sales performance, they have adapted their business strategies accordingly. Property Perfect PCL now focuses on flatted developments because it is less risky for both developers and buyers. As for condominiums Property Perfect PCL will look for buy-to-live rather than buy-to-invest. However Sena Developments does not share the same view in regards to the economy. They now shift the target to the middle to upper income buyers.
The strategy of Nusasiri PCL remains at the investor focus. In the future the company will increase the proportion of investment buyers from 50% to 70% for a development. Suetrong, on the other hand, will stay put with no new developments in the pipeline but aims to attract buyers through promotions.
