Knight Frank is fully committed to the market for professional sales management, launching 4 new teams under the "Residential Project Marketing" division, showcasing 20 years of experience managing projects worth over 140 billion baht. The goal is to become a professional partner that provides developers with a competitive edge, aiming to boost sales volume from target markets, including local buyers and international investors from China, Hong Kong, Singapore, Malaysia, and Taiwan, focusing on luxury homes and condominiums priced at 10 million baht and above in Bangkok and its vicinity.

Ms. Potjaman Vorakitpokathorn, Head of Residential Project Marketing at Knight Frank Thailand, revealed that the overall housing market, including condominiums and single-family homes, is steadily recovering following the COVID-19 situation, accompanied by increased competition. Many condominium projects are adjusting strategies to remain competitive and maximize cash flow to fund land purchases for new developments.

In the single-family home market, aside from competitive pressures, other factors are hindering sales from reaching planned targets, such as rising interest rates and floating interest rates, making it more difficult for consumers to obtain home loans as their incomes remain stable while repayment amounts increase, along with reduced loan approval limits.

During the COVID-19 period, the market for single-family homes priced between 3-5 million baht gained more interest, but other factors have made purchasing decisions more challenging than the market desires, including rising interest rates and floating interest rates, which complicate loan applications for consumers.

These business constraints, particularly in sales and marketing, have led to the idea of expanding 4 new teams in the "Residential Project Marketing" division to support future work and address the needs of service and sales for condominium and single-family home projects for real estate developers.

Regarding strategy and objectives, the "Residential Project Marketing" division divides marketing and sales teams into two markets: condominiums and single-family homes in the mid to high price range (2-10 million baht) and the luxury segment (10 million baht and above). The primary target groups are buyers looking for personal residences and Thai investors, along with international investors from China, Hong Kong, Singapore, Malaysia, and Taiwan.

With 20 years of experience in real estate marketing and sales in Thailand, managing projects worth over 140 billion baht, and a business network spanning 57 countries across 6 continents, the team offers a One Stop Service support system, including property appraisal and market research teams, enabling precise access to industry data and analysis to identify real estate marketing opportunities. Additionally, collaboration with project owners as partners helps drive sales to meet set targets, with approximately 10-15 projects under management for marketing and sales.

Current luxury condominium projects under management include The Crown Residences located in Sathorn, Rama 4, with an average selling price of 250,000 baht per square meter and unit prices ranging from 7-30 million baht, situated opposite the One Bangkok project. Another upcoming project is Kingsquare Residence in Rama 3, across from King College International School, priced at 200,000 - 230,000 baht per square meter, with unit prices ranging from 10-80 million baht.

Historically, luxury condominium projects have predominantly been branded residences located in Sathorn, Wireless Road, Rama 4, and along the Chao Phraya River, such as Mandarin Oriental Residence, Amari Phuket, and Sukhothai Residences.

Mid to high-class condominium projects priced between 70,000-190,000 baht per square meter, with unit prices ranging from 2-10 million baht, include brands like Niche Mono, Niche Pride, Aspace Bangna, The Metropolis, and riverside projects like StarView, along with investor-focused projects such as Salaya One and Bayphere Pattaya.

Additionally, there are projects preparing for sale located in Ekkamai and Watcharapol (names not yet disclosed), as well as townhome projects priced between 2-6 million baht, including The Hamilton in Bang Kruai Sai Noi and The Mastery in Theparak.

Recently, the team successfully closed sales for the Thepa Ramkhamhaeng 118 luxury homes priced between 9-18 million baht, as well as the Salaya One condominium developed by Mii Nam Development Co., Ltd. Over a 7-month period of managing marketing and sales, they generated sales worth 700 million baht, with sales in Building A completed, while Building C has approximately 70% of sales completed, and preparations are underway to launch sales for Building B, the final building of the project.

“Salaya One, a condominium located near Mahidol University, has achieved sales success through market analysis and direct sales to target groups by offering beautifully designed rooms with fully furnished options at affordable prices, creating investment opportunities for rental purposes,” said Ms. Potjaman.