Lower prices helping to revive sagging condo sentiment

New condo launches priced below market averages are attracting buyers despite a sluggish economy, a contracting residential sector and weakened purchasing power, according to SET-listed developer Supalai.

- KANANA KATHARANGSIPORN

Tritecha Tangmatitham, managing director of Supalai, said the condo market rebounded to about 90% of normal levels from July to August, after slowing in the first half due to weak sentiment in the first quarter and the impact of the March 28 earthquake in the second quarter.

“Sentiment slowed again this month, but conditions are still better than in the second quarter,’ he said. “A few new projects avoided weak sales, recording strong take-up as their prices were set below market averages. Price performance is significant”

Late last month, the company launched Supalai Elite Sukhumvit 39, a 192-unit project on Sukhumvit Soi 39 with unit sizes starting at 56.5 square metres, priced from 6.3 million baht or 120,000 baht per sq m on average.