Property Firms May Take a Minimum Time of 3 Years to Sell Their Property Inventory
Many property companies may take over 3 years to sell out an inventory of residences of value over Bt200 billion in Bangkok and its outer reaches for the reason of a hold back in demand happening from the economic slump.
On the other hand, a few bigger property firms consider their inventory should be sold out and producing revenue after three months for this reason, although definitely within a year. A lot of experts say their inventories are now mostly presold.
A recent survey revealed that property developers listed on the Stock Exchange of Thailand had housing inventories of a combined value of Bt178.79 billion by the final quarter of 2008, a rise of 14% over inventories of value Bt155.09 billion by the last quarter of 2007.
The leading property firm Preuksa Real Estate recorded the maximum growth of houses "in stock", with its inventory increasing by 55.55% every year worth of Bt12.6 billion by the final quarter of 2008.
Other leading property firms Supalai and Quality Houses, whose inventories increased by 34.1% and 33.1% correspondingly, by the last quarter of 2008 with values of Bt11.4 billion and Bt19.3 billion.
Real Estate Information Centre director-general said that in usual circumstances, housing inventories were fascinated by the market in 1½ -2 years. However in the present financial slump, in which buying power has decreased a lot, it may take 2 ½ -3 years to sell out housing projects.
“We consider property companies will have to enforce sales with marketing campaigns for the reason that home purchasers are postponing their decisions to purchase and are taking more time to choose a property to purchase,” he said.
When obtainable inventories were united with fresh projects launched in 2009, a few property developers could take over 3 years to sell out their projects.
On the other hand, a few bigger property firms consider their inventory should be sold out and producing revenue after three months for this reason, although definitely within a year. A lot of experts say their inventories are now mostly presold.
A recent survey revealed that property developers listed on the Stock Exchange of Thailand had housing inventories of a combined value of Bt178.79 billion by the final quarter of 2008, a rise of 14% over inventories of value Bt155.09 billion by the last quarter of 2007.
The leading property firm Preuksa Real Estate recorded the maximum growth of houses "in stock", with its inventory increasing by 55.55% every year worth of Bt12.6 billion by the final quarter of 2008.
Other leading property firms Supalai and Quality Houses, whose inventories increased by 34.1% and 33.1% correspondingly, by the last quarter of 2008 with values of Bt11.4 billion and Bt19.3 billion.
Real Estate Information Centre director-general said that in usual circumstances, housing inventories were fascinated by the market in 1½ -2 years. However in the present financial slump, in which buying power has decreased a lot, it may take 2 ½ -3 years to sell out housing projects.
“We consider property companies will have to enforce sales with marketing campaigns for the reason that home purchasers are postponing their decisions to purchase and are taking more time to choose a property to purchase,” he said.
When obtainable inventories were united with fresh projects launched in 2009, a few property developers could take over 3 years to sell out their projects.
Labels: Housing projects, marketing campaigns, Property Developers
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