Thailand’s Property Perfect Self-Assured of Immediate Improvement

A leading Thai housing developer Property Perfect is all set to launch eight projects of value Bt10 billion in the coming two months, providing a quick recuperation for the local real estate market.

The company’s chief executive, said: “The worst point of the political emergency has gone. We think consumer confidence will take up again, subsequent to economic and property market stimulation late in 2009.”

Property Perfect is ready to launch two projects in the Rama IX area:
1. The Metro Rama IX- This project consists of 472 detached residences. The total value of this project is Bt1.7 billion, and
2. The Perfect Masterpiece- This project consists of 319 detached houses. The total value of this project is Bt3.27 billion.
Both the projects are in close proximity to the Airport Rail Link. The Airport Rail Link is all set to start by August 2009.

The developer is also investing on the expansion of the Silom BTS line, from the present terminus at Saphan Taksin to the new Wong Wian Yai station on the Thonburi side of the river.

After a trial period of three months, the expansion will be authoritatively started on August 12 to mark Her Majesty the Queen’s birthday. In Thonburi, Property Perfect will make available around 321 townhouses in the Metro Sathorn project of value nearly Bt1.27 billion, and 2,200 condominium units of value Bt4.4 billion as part of the project Metro Park Sathorn phase 3.

A few other projects are also in the pipeline for the areas like
1. Ratchapruek area,
2. Ramkhamhaeng,
3. Sukhumvit 77, and
4. Ratchadapisek Road.

A few of these projects were in a hold back state from the initial quarter of 2009 and the final quarter of 2008 because of poor market sentiment. The developer is planning to launch all the projects in the second quarter of 2009 for sale all through the second half when we think the Thai economy will get better.