Astin Estate reports that COVID-19 has increased demand for horizontal properties, complemented by the benefits of reduced land tax policies, which have kept home-buying interest steady. The upper market continues to grow, providing an opportunity for “Astin Estate” to expand its projects under management worth 5.65 billion baht across four brands, along with one joint venture brand. In the second half of the year, they are set to launch a new project under the brand Veritz (Veritz) Sathorn Pradit 34, featuring luxury townhomes and four-story home offices with 35 units priced from 20.9 to 26 million baht, totaling a project value of 900 million baht.

Mr. Pornchai Kritsadawarakul, Managing Director of Astin Estate Co., Ltd., a leading real estate developer with over 40 years of experience in the industry, shares insights on the real estate market outlook for the last six months of 2021, as the world and Thailand continue to face the COVID-19 pandemic, impacting various sectors and leading to a shift in lifestyle. He states that the horizontal property market remains robust, similar to the first half of the year, as buyers show a preference for horizontal projects like single houses and townhomes, which offer more living space than condominiums. This preference stems from consumer concerns about living in cramped spaces and close proximity to others, which increases the risk of COVID-19 infection.


Mr. Pornchai Kritsadawarakul, Managing Director of Astin Estate Co., Ltd.

The behavior of property buyers has clearly changed since the onset of the COVID-19 crisis, with horizontal properties gaining popularity over condominiums. People are wary of living in confined spaces and close quarters with others, and lifestyle changes such as working from home instead of going to the office have pressured the condominium market, leading to a significant decline in popularity. Conversely, the market for single houses and townhomes has seen increased interest and growth since 2020, continuing into this year, clearly favoring buyers, especially in the premium segment, where buyers can choose quality projects at reasonable prices. Additionally, the horizontal property market has benefited from a more than 90% reduction in land tax.

Mr. Pornchai mentions that in 2021, amidst the uncertainty of the COVID-19 pandemic, the company has taken the opportunity to explore new business strategies and rebrand from the previous brand “Patra Estate” to the new brand “Astin Estate.” This rebranding aims to strengthen the organization and prepare for the digital era, ensuring sustainable long-term growth. The focus is on establishing the company as a leader in innovation and design, creating real estate projects that cater to the lifestyles of modern residents, enhancing consumer understanding, and preparing for market expansion into diverse locations. Previously, the company was primarily known among urban customers, particularly in the Rama 3 and Sathorn Pradit areas.

Currently, Astin Estate manages projects under five brands, totaling 5.65 billion baht. In 2021, the company is set to launch a new project under the newly rebranded name, including Veritz (Veritz) Sathorn Pradit 34, featuring luxury townhomes and four-story home offices with 35 units priced from 20.9 to 26 million baht, with a project value of 900 million baht. The concept 'MAKE YOUR MARK MORE REMARKABLE' showcases a superior lifestyle identity through every moment of distinctive living, representing the ideal of peaceful relaxation and unparalleled happiness in every detail. Veritz (Veritz) Sathorn Pradit 34 is strategically located in a quiet area in the city center, providing easy access to business districts.

Other projects under the company’s development include The Pana project on Phetkasem Road, a modern-style single house located conveniently for travel in the Phetkasem-Phutthamonthon Sai 3 area, facilitating quick access to the city center and connecting to key transportation networks for enhanced convenience, including the new Phra Thep Road project (Pran Nok - Phutthamonthon Sai 4), the Si Rat Expressway, and the Blue Line subway connecting Bang Sue to Tha Phra and Hua Lamphong to Bang Khae.

Biz Galleria on Nuanchan-Kaset Nawamin, the largest modern luxury office residence, perfectly blends work and relaxation. Additionally, there is a joint venture project with Patranan Asset Co., Ltd., called HYPE Sathorn-Thonburi, an eight-story condominium comprising five buildings with a total of 911 units. The concept 'Urban Playground' transforms every ordinary day into a fun day, as life encompasses various aspects, making “home” a place of relaxation tailored to its residents, with a design that embraces the philosophy of “Go with The Flow.” There is also a twin house project under another brand planned for launch within this year.

With over 40 years of experience in the real estate sector, the company has earned trust since the foundation laid by previous generations. Today, Astin Estate presents a modernized image, ready to meet customer needs, and is committed to business development through innovative advancements. Especially under the current COVID-19 situation, understanding customer demands is crucial to ensure that residents in their projects receive the best possible living experience,” Mr. Pornchai concluded.