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Thailand property developer Quality House targets super luxury sector

Thailand listed property developer Quality Houses has entered the high-end condominium market with the launch of its first super luxury project – Q Langsuan. The 36-storey freehold development is located on a more than 2-rai land plot on Langsuan Road in central Bangkok, and features 177 two- to four-bedroom units, pool villas and penthouses, ranging in sizes from 73 sqm to 515 sqm. The price starts from THB12.8 million (US$403,275) and rise to THB126 million (US$3.97 million). Since the soft launch early in August, sales has reached 30 per cent, with local buyers dominating. Construction is 90 per cent complete and all units will be ready to occupy by November 2010.

Daniel Lorenzzo

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Thailand listed property developer Quality Houses has entered the high-end condominium market with the launch of its first super luxury project – Q Langsuan.

Thailand listed property developer Quality Houses has entered the high-end condominium market with the launch of its first super luxury project – Q Langsuan.

The 36-storey freehold development is located on a more than 2-rai land plot on Langsuan Road in central Bangkok, and features 177 two- to four-bedroom units, pool villas and penthouses, ranging in sizes from 73 sqm to 515 sqm. The price starts from THB12.8 million (US$403,275) and rise to THB126 million (US$3.97 million).

Since the soft launch early in August, sales has reached 30 per cent, with local buyers dominating. Construction is 90 per cent complete and all units will be ready to occupy by November 2010.

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Q House enters super luxury sector with Q Langsuan

Thailand Property Outlook

Although the current outlook for Thailand property has taken a knock and the current political situation needs to be followed closely by potential Thailand property investors, the country’s property market should not be overlooked.

Being a developing country, the cost of property in Thailand is much lower than in the more developed European markets. But, on the other hand, prices for Thai property, in general, are rising at a much faster rate.

Many Real estate developers in Thailand have developed and implemented market research technologies and monitor the market closely.

Thailand’s property market was able to rebound from past crises and there is every reason to believe it will be able to absorb the blow of recent political tensions. The taxation situation has actually improved the conditions for purchasing property in Thailand, and if property prices do dip slightly as a result of the current situation it may actually be a good time to buy as there is a very real possibility Thailand property will regain its golden outlook soon. As a result, the financial condition of most major housing developers in Thailand is much more robust than in the past. The development of the local bond markets and increasing domestic savings has the made the industry much less dependent on foreign funds, a significant difference from 1997.

The real demand for residential real estate stems from local residents and foreigners living or working in Thailand. The latter group will definitely be affected by the weak global economy but what about local Thai residents? The Thai domestic economy will also be adversely affected by the crisis, especially the export sector.

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