Asset Wise Public Company Limited (ASW) has launched a portfolio of condominiums and horizontal projects, including both Backlog and ready-to-move-in properties priced below 7 million baht. This initiative is benefiting from the government's real estate stimulus measures in 2024, covering prime locations in Bangkok, renowned educational institutions, and world-class tourist destinations like Phuket. The offerings cater to the needs of homebuyers, real estate investors seeking rental returns, and those looking for a second home in popular areas.

Mr. Kramchad Wiphanpong, Chief Executive Officer of Asset Wise Public Company Limited (ASW), a leading real estate developer focused on lifestyle under the concept of "Happiness Designed for You" or "We Build Happiness," revealed that the Cabinet has approved economic stimulus measures through the real estate sector. These include reducing the transfer registration fee from 2% to 0.01% and the mortgage registration fee from 1% to 0.01% for property transactions valued at no more than 7 million baht and mortgage amounts not exceeding 7 million baht per contract until December 31, 2024.

The company currently has condominiums and ready-to-move-in homes priced below 7 million baht that benefit from these measures. The total value of projects in the Backlog expected to generate revenue this year is over 7.5 billion baht, while the ready-to-move-in projects are valued at over 9.2 billion baht. Buyers will benefit from the government's real estate stimulus measures, which are spread across prime locations in Bangkok, famous educational hubs, and world-class tourist destinations like Phuket. The reduction in transfer and mortgage fees to 0.01% from the usual rates of 2% and 1%, respectively, means that purchasing a home priced at 1 million baht will save buyers approximately 19,850 baht, which is advantageous for those considering buying a residence at this time. This will also positively impact ASW's operations in 2024 due to accelerated consumer purchasing decisions.

Mr. Kramchad further stated that the overall real estate market in the first half of the year may not be very active due to the slow growth of the national economy. Additionally, the economic stimulus measures through the real estate sector only took effect in the second quarter. Buyers may also be waiting to see the trend of interest rates in the latter half of the year before making decisions. However, some condominium projects in certain locations have seen strong demand from local buyers, such as the project “Kave Luminous Bangmod”, located near King Mongkut's University of Technology Thonburi, which has 516 units starting at 1.89 million baht with a project value of 1.2 billion baht. The company launched sales in early June, and pre-booking sales have already exceeded 80%. Meanwhile, “Kave Genesis Nakhon Pathom”, with 579 units near Central Nakhon Pathom and Silpakorn University, starts at 1.79 million baht with a project value of 1.16 billion baht. A special preview of the show units was held on June 8-9, 2024, receiving positive feedback, reflecting the project’s development that meets the needs of consumers who still have purchasing power, both for self-use and for investment purposes.

For the real estate market outlook in the second half of the year, it is expected that consumer demand for housing will increase due to the positive factors from the real estate stimulus measures, which are set to expire at the end of 2024. This will pressure consumers who plan to buy homes to expedite their purchasing decisions in the latter half of the year. Additionally, various measures aimed at driving economic growth this year, such as increasing the target for foreign tourists to 36.7 million (up from the previous target of 35.7 million in 2024), accelerating budget disbursement for 2024 to reach 75% in the third quarter and the remainder by the fourth quarter of this fiscal year, as well as the 500 billion baht digital wallet project, which is expected to allow citizens to start receiving funds for spending in the fourth quarter of 2024.

ASW operates in real estate development, focusing on high-rise and horizontal residential projects in prime locations under the concept of "Happiness Designed for You" or "We Build Happiness." The company has developed over 66 projects of condominiums and housing estates under various brands designed to create happiness suitable for every lifestyle.

These include the KAVE brand, ATMOZ brand, MODIZ brand, ESTA brand, THE ARBOR brand, THE HONOR brand, and brands under Rompoh Property Public Company Limited or “TITLE,” which is a subsidiary of the company, with a total project value of over 94.1 billion baht. This includes completed and ready-to-move-in projects (48 projects) and projects currently on sale and under development (18 projects). As of the first quarter of 2024, the backlog awaiting revenue recognition is valued at over 20.475 billion baht.