National—
On December 8th, 2023, Thai reporters publicly revealed that Mr. Prasert Taedullayasatit, the Chief Executive Officer of Property of Ananda Development PCL, showed the overall performance in sales and profit from January to November 2023 has exceeded their goals as compared to the previous year.
The profit reportedly exceeded 13.5 billion baht which increased by 10% compared to the previous year. The company deployed a new strategy of targeting luxury property markets and foreigners, especially condo residences that cost less than 3 million baht, said Prasert.
“In 2023 from January to November, the overall sales was over 5.2 billion baht or a 350% increase compared to the previous year. More than 90% of the buyers were Chinese people who work abroad and Myanmar nationals, Taiwanese, and Singapore nationals, respectively, who buy the property with cash to invest in real estate,” remarked Prasert.
Prasert added that the overall picture in real estate markets in 2023 was not fully recovered from unfavorable economic situations, inflation, and trust in real estate from foreigners.
Prasert hoped the public sector would issue measures to stimulate the real estate sector, especially canceling the loan-to-value ratio (LTV) measure.
