According to the financial reports of 40 real estate companies listed on the Stock Exchange of Thailand for the first half of 2024, it was found that revenue and profit decreased by 0.08% and 23.33% respectively compared to the same period in 2023, with a profit margin of only 8.60%. However, inventory and ongoing construction projects increased by 3.02%, with an average selling time of about 27-28 months.

Research and Development Company LWS Wisdom and Solutions Co., Ltd., a subsidiary of LPN Development Public Company Limited, compiled the performance results for the first half of 2024 of 40 real estate companies listed on the Stock Exchange of Thailand, reported as of August 15, 2024. The total revenue and net profit of these 40 companies amounted to 154,767.62 million baht and a net profit of 13,322.01 million baht, representing a decrease of 0.08% and 23.33% respectively compared to the total revenue and net profit of 40 real estate companies listed in the first half of 2023, which were 154,894.87 million baht and 17,376.28 million baht.

The average profit margin of all 40 companies in the first half of 2024 was 8.60%, better than the first quarter of 2024, which had a profit margin of 7.68%, but down from the profit margin of 11.22% in the first half of 2023.

Meanwhile, the inventory plus ongoing projects of all 40 real estate companies in the first half of 2024 stood at 707,738.38 million baht, an increase of 3.02% from 686,956.35 million baht at the end of the first quarter of 2024. Compared to the revenue in the first half of 2024, the inventory plus ongoing projects of these 40 companies would take about 27-28 months to sell, assuming no new projects are launched. Sansiri Public Company Limited had the highest inventory and ongoing construction projects among the 40 companies, with a total of 103,970.83 million baht, accounting for 14.69% of the total inventory and ongoing projects of all 40 companies.

The top 10 companies with the highest revenue hold a market share of 73.32%.

When considering the total revenue of the top 10 companies, it was found to be 113,481.92 million baht, accounting for 73.32% of the total revenue of all 40 companies. Meanwhile, the net profit of the top 10 companies amounted to 14,213.78 million baht, exceeding the total net profit of the 40 companies due to the fact that 15 out of the 40 companies reported net losses, pulling the total net profit of all 40 companies below that of the top 10 profit-making companies.

The top three companies with the highest revenue and profit are Sansiri Public Company Limited, AP (Thailand) Public Company Limited, and Land and Houses Public Company Limited.