Listed in the Stock Exchange of Thailand since 1996, Sansiri is Thailand’s second largest real estate developer, with revenues of over 1 Billion USD in 2017.
Sansiri has confirmed its fourth participation to LPS and will welcome Shanghai-based investors at their booth C67 at LPS Shanghai 2018.
Mr. Srettha Thavisin, President of Sansiri Public Company Limited, is answering our questions about Asian buyers, Thailand’s hottest real estate destinations and Sansiri’s future developments.
Dear Mr. Thavisin, can you please introduce Sansiri as a company?
Since our founding in 1984, we have been passionate about enhancing quality of life for our residents through over 300 projects that comprise nearly 80,000 residential units. We are always at the vanguard. We never wait for the future, we’re making it. With our solid business growth ambitions, it has been over three decades that we offer sophisticated design along with services that complete our consumers’ living experiences. Apart from that, Sansiri is still evolving along with our partners from leading companies around the world to create new products, services and living experiences that everyone who reside in Sansiri communities will cherish and enjoy. Sansiri’s vision will continue to focus on next generation living and how we live, work, play and discover.
Asian buyers are currently massively investing in Thailand. According to you, what are the main reasons to explain this trend? And do you foresee that this trend will continue in the future?
Thailand has all the same favorable fundamentals as other major real estate markets around the world – the geographic location as the gateway to Asean, readiness of transportation infrastructure for both living and investment in diversified industries as well as the high number of real estate on offer in the market and the government’s proposed expansion of investment for infrastructure projects.
The Thai government seeks to sustain positive growth of the tourism sector by ensuring safety in major tourist attractions, attracting high-end and high-purchasing-power tourists, promoting and linking tourism with other regional countries. It will also focus on high-potential and high-growth-tendency tourists, building up new tourist market, and supporting domestic tourism, all in an effort to promote and attract foreign buyers, not only in trade but also in the property market. Leading many tourist investing in popular Thai tourist destinations like Chiang Mai, Phuket, Pattaya and Hua Hin.
The overall picture of Thailand’s real estate market has been growing steadily with a yielding income of 5-8 percent from long-term rental contracts, especially for condominiums located close to the BTS mass transit system.
Thailand is a perfect location for Asian buyers to move to as it is only a few hours flight, which is close enough for frequent trips back to their homeland, and the convenience of direct flights from their home cities.
When comparing price points and cost of living, Thailand’s is an ideal choice.
And Thai property law has provisions that allow foreigners to buy and own freehold land. Bangkok is also the capital with highest demand and supply for real estate among major cities in the Asean region.
What advice would you give to Asian buyers investing for the first time in Thailand?
Consider a property that provides a one stop service for your investment. Sansiri, as being Thailand’s leading full-service real estate developer, doesn’t only provide high standards in property development, but also provides after sales property management services to assist with renting, re-sale and additional services and management.
In 2018, what will be the main projects to be launched by Sansiri?
2018 is an ambitious year for Sansiri, as we plan to launch 31 new projects. Of all these new projects, there will be 12 condominium projects, 8 single house (we will launch our latest flagship project called Baan Sansiri Pattanakarn) and 11 townhouse projects.
And with our newly appointed Chief Creative Officer, Mr. Ou Baholyodhin and our latest global investments of 6 new international partners (The Standard International, Monocle, Farmshelf, JustCo, Hostmaker and OneNight), you can expect great new partnership projects that will shape the way people live in the future, building upon Sansiri’s forward thinking approach to the rapidly growing housing sector in a way that is human, sustainable and authentic.
Many thanks, Mr. Srettha Thavisin.