Sena Development Plc, a SET-listed developer, plans to develop extra reasonably priced rental initiatives in response to an anticipated decline in buying power because of rising housing costs.
Atika Boonrodchoo, Sena Assistant Managing Director, expects housing prices to rise by 5% this year as a result of rising construction prices, together with supplies and wages. She said…
“Purchasing energy might not have the power to adjust in line with the upper housing costs. In response, we’ll introduce more inexpensive condo tasks in locations outside Bangkok, the place development prices are decrease compared to inside metropolis areas.”
The firm can be intently monitoring the potential increase within the minimal wage by the model new authorities and can work with contractors to regulate costs accordingly. This strategy aims to maintain affordable costs for product sales while minimising the impression on profit and customers’ purchasing power.
With No questions asked of Sena’s abroad clients being Chinese, the corporate is preserving an in depth eye on the international insurance policies of the new authorities and will modify its methods consistent with the evolving situation.
Despite various adverse components, Atika said the corporate stays committed to attaining its presales and switch targets of 18.2 billion baht and 16.5 billion baht, respectively, each of which would mark a new record high. These figures characterize vital growth compared to 12.7 billion baht in presales and 10 billion baht in transfers final yr.
In 2021, Sena launched a rent-to-own programme or hire buy option for residential units, which acquired constructive suggestions from customers. The first group of customers to take part in this programme will start the house mortgage software process within the next 6-10 months. Atika added…
“We completely assessed the monetary and debt status of most rent buy clients based on their historical past and revenue. If they successfully repay their money owed, they are going to be eligible to apply for a house loan.”