Floods Likely To Spur Demand For Condominiums

[webfact]

Floods Likely to Spur Demand for Condominiums

A condominium developer says the devastating floods will help create robust sales in the market.

Senior Deputy Managing Director of San Siri Company Uthai Uhaisaengsuk said his firm already estimated the impact of the flood crisis on its business.

He stated that none of its clients have sought a refund on their down payments or ceased making their monthly installments.

Uhtai commented that this year's floods are likely to create a bright future for the condominium market, given that Bangkok residents are more interested in buying second homes either in the capital or in the provinces.

He said home owners whose houses were flooded for an extended period are more likely to sell their houses and purchase condominiums.

The executive remarked that the flooding lowered his sales by 50 percent in October, but sales have already picked up this month.

Therefore, he is confident that total revenue will reach the targeted 2 billion baht, double the figure reported in the same period last year.

He believes this year's sales will meet the targeted 8.5 billion baht, as the sales during the first nine months have already reached 6.5 billion baht.

Uthai said 90 percent of condominium units at the Quattro by Sansiri project have been sold, and sales should be closed before the end of this year or the first quarter of next year.

-- Tan Network 2011-11-25

[pomchop]

surprise surprise...a condo developer predicts that condo sales will be strong. What was he going to say....No because of the floods we have found that many potential buyers have decided to move from Bangkok to the mountains so our sales are really lousy.

[PattayaPhom]

Well its definatly helped with Thai sales in Pattaya the past three weeks, houses priced under 3Mil also.....

[HerbalEd]

surprise surprise...a condo developer predicts that condo sales will be strong. What was he going to say....No because of the floods we have found that many potential buyers have decided to move from Bangkok to the mountains so our sales are really lousy.

Do you actually know this guy is lying ... or are you just a cynic who always assumes the worst about people?

Edited November 25, 2011 by HerbalEd

[KKK]

Floods Likely to Spur Demand for Condominiums

Would have thought houseboat demand/prices to have risen far more than condos.