June 18, 2019, Bangkok ̶ Major Development reports that sales at Manor Sanambinnam have surged by 270% after the Bank of Thailand implemented LTV measures for two months. They believe that supportive factors include a favorable location, a clear target group, and strong purchasing power, along with promotions that resonate with consumers. They are also launching the newly decorated "Riverfront Suite" with the last 10 units available, offering deluxe comfort with a width of 11 meters and a stunning 180-degree view of the Chao Phraya River, accompanied by a significant promotion of a 2 million baht discount per unit, emphasizing no impact from the government's loan regulation criteria.

           Dr. Surya Poovoralak, Managing Director of Major Development Public Company Limited, a leader in Thai real estate, stated, "After the Bank of Thailand announced new regulations for housing loans for second home buyers or LTV (Loan to Value) ratio not exceeding 10 million baht, effective from April 1, the results showed that in the first three months before the announcement (January-March), sales grew by 187% due to promotional campaigns offering discounts of 30-50% from the regular price and 'buy one get one free' promotions, which attracted significant consumer interest, especially from first-time homebuyers who were not affected by these measures. Following the announcement of the Bank of Thailand's measures, in the two months of April and May, sales for the "Manor Sanambinnam" project increased by 270% from the sales target set."

           "The results confirm that in the first half of the year, our project focused on those seeking housing, along with promotions that offer more than comparable condominiums, allowing them to enjoy a riverside view just 1 kilometer from the Purple Line subway. This makes it easier for them to decide. As first-time homebuyers, they can apply for nearly 100% of the loan amount, and another supportive factor is that the price of vertical housing along the Chao Phraya River in the Charoen Krung area has risen significantly, with hotel chains starting to operate both condominiums and residences. This makes riverside condominiums in Nonthaburi an attractive first choice. Additionally, research from Colliers International Thailand indicates that land prices in Bangkok have increased by an average of over 10% per year, with high demand for condominiums taller than 8 stories, especially near subway stations, and riverside locations are gaining more interest as customers seek ready-to-move-in properties," Dr. Surya added.

           In the second half of the year, Dr. Surya has adjusted the target group to include new-generation businesspeople looking for condominiums for both leisure and future investment. The riverside location along the Chao Phraya remains a prime area, especially with the expansion of the subway network to alleviate congestion in major urban areas. This target group has different needs from first-time homebuyers, seeking larger living spaces, functional furniture, and designs that cater to relaxation, with two-bedroom units appealing to high purchasing power customers who prioritize long-term investment value, often opting to purchase properties in cash.

           Major Development is set to unveil the super deluxe "Riverfront Suite" with a width of 11 meters, offering luxurious comfort and a stunning 180-degree view of the Chao Phraya River. The two-bedroom, one-living room unit spans 73 square meters, with the last 10 units available, just 5 minutes from the Purple Line subway. The project features extensive communal areas both inside the building and around the project, including an Olympic-standard swimming pool on the building and a riverside pool for a healthy atmosphere, along with a basketball court and indoor exercise area, making Manor Sanambinnam an ideal choice for relaxation and long-term investment. The last 10 units of the Riverfront Suite come with a promotion of a 2 million baht discount per unit, starting at 6.78 million baht.

           "With this launch of the units and promotions, we expect to stimulate purchasing decisions among first-time homebuyers, encouraging them to choose Manor Sanambinnam as a suburban retreat or long-term investment, as this group has purchasing power and is not restricted by the Bank of Thailand's LTV lending criteria, which will help the Manor Sanambinnam project achieve its target of 139 units in the second half of the year," Dr. Surya concluded.

           The Manor Sanambinnam project has a total project value of over 3.6 billion baht, comprising 4 buildings with a total of 1,796 units, with an average price ranging from 2 to 9 million baht. It is a high-potential project with a reputable brand image, superior quality standards, and completed construction ready for occupancy, located in a prime area along the Chao Phraya River. Interested parties are welcome to experience the sample unit of the "Riverfront Suite" at the Manor Sanambinnam project, with an attractive offer of a 2 million baht discount per unit from now until July 31, 2019. For more information, call 1266 or visit https://www.mjd.co.th/manor/.

 

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