SET-listed Singha Estate is planning to launch two new low-rise housing projects worth 5 billion baht in the fourth quarter, targeting a pricing segment of 15 million baht as buyers in this range are receiving a minimal impact from economic conditions.
Nattavuth Mathayomchan, chief residential development officer, said the new projects would introduce a new brand called Shawn which would focus on low-rise houses priced between 15-30 million baht.
“The luxury housing market is growing steadily, with customers in this segment making purchase decisions primarily based on their preferences,” he said. “External negative factors have minimal impact on these customers.”
In contrast, buyers of low-rise houses priced below 15 million baht are sensitive to economic conditions. Many of them are significantly impacted by increases in interest rates, he added.
The two new projects under the Shawn brand will be located in the Ram Intra and Chatuchote areas of Bangkok where there is strong demand for low-rise houses in the upper-end segment.
Two weeks ago, the company launched S’RIN Ratchaphruek-Phutthamonthon Sai 1, a luxury single detached housing project worth 3.7 billion baht on Phutthamonthon Sai 1 Road in Bangkok’s Taling Chan district.
The project is situated on a 45-rai plot, with 89 units on plots ranging from 110 to 168 square wah, featuring a useable area of 440 to 626 square metres. Unit prices range from 39-75 million baht.
It has gained greater interest from business owners and doctors working at Siriraj Hospital.
Currently, seven units with a total sales value of 550 million baht have been reserved, and an additional three are expected to be signed pending financial approval.
The company expects the project to be sold out by 2026, Mr Nattavuth said.
“The high-end condo market is making a comeback,” he said. “We are actively seeking new locations for project launches, targeting segments priced between 200,000 baht and 300,000 baht per sq m.”