“It is no longer useful to pump up sales of townhouses because of the high mortgage rejection rate.” — Saenphin Sukhee, chief Executive, Frasers Property Home (Thailand)
As the impact of the pandemic slows the townhouse market, developer Frasers Property Home (Thailand) or FPH is shifting to luxury single detached houses as well as adding a condo development business.
Chief executive Saenphin Sukhee said the townhouse market was hard hit by Covid-19 as the majority of buyers were low-income earners, many of whom had a high level of household debt.
“Before the pandemic, we tried to increase townhouse sales as much as possible without pre-screening, as we thought the more units were sold, the more customers would be able to get…
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