Plus Property highlights the trends in the Thai economy for 2567, which face challenges. Ten major companies in the real estate sector have announced their Q1 earnings, generating a total revenue of over 49 billion baht. Compared to the same period in 2566, the revenue is slightly lower, indicating that this year, real estate operators must exercise caution in management. This year, Sansiri has excelled, securing the top spot in both total revenue and net profit, being the only company to achieve over 10 billion baht in revenue for this quarter. Following in revenue are AP Thailand and Land and Houses, respectively. For net profit, the rankings switched, with Land and Houses taking the second spot, followed by AP Thailand in third.

Top 10 Real Estate Operators with Outstanding Performance

Plus Property has compiled the Q1 performance of 2567 for 10 real estate companies, comparing their profit, revenue, and growth rates, reflecting the different strategies of each company. This signals what to watch for in the real estate market in the second half of the year.

Sansiri: Champion with Total Revenue of 10,170 Million Baht and Net Profit of 1,315 Million Baht

Sansiri reported total revenue of 10,170 million baht in Q1, an increase of 19.6%, with a net profit of 1,315 million baht, down 16.9% from the same quarter last year. The company achieved a 32% increase in project sales revenue, totaling 8,505 million baht, driven by sales of luxury and super-luxury single-family homes, along with continuous project transfers.

AP Thailand: Total Revenue of 7,968 Million Baht and Net Profit of 1,008 Million Baht

AP Thailand reported total revenue of 7,968 million baht and a net profit of 1,008 million baht, with revenue decreasing by 15.6% from 9,441 million baht, and net profit down 31.8% from 1,478 million baht compared to the previous year. The main revenue sources were from the sale of horizontal projects at 7,088 million baht and condominiums at 519 million baht, along with new project launches and transfers of existing projects.

Land and Houses: Total Revenue of 7,804 Million Baht and Net Profit of 1,231 Million Baht

Land and Houses reported total revenue of 7,804 million baht, with a net profit of 1,231 million baht. Revenue increased by 11.9% from 9,441 million baht, while net profit decreased by 9.1% from 1,354 million baht due to a decline in sales revenue compared to last year.

Supalai: Total Revenue of 4,674 Million Baht and Net Profit of 614 Million Baht

Supalai generated total revenue of 4,674 million baht, down 20.8% from 5,902 million baht, with a net profit of 614 million baht, down 43.2% from 1,080 million baht in 2566.

Pruksa: Total Revenue of 4,171 Million Baht and Net Profit of 65 Million Baht

Pruksa reported revenue of 4,171 million baht, down 20.8%, with net profit down 90% to 65 million baht from 652 million baht the previous year, affected by consumer purchasing power issues, especially among low-income customers, which has been a continuing factor from last year, along with rising interest rates causing delays in purchasing decisions.

SC Asset: Total Revenue of 4,024 Million Baht and Net Profit of 183 Million Baht

SC Asset reported total revenue of 4,024 million baht, down 18.4% from 4,930 million baht, with a net profit of 183 million baht, down 65.8% from 535 million baht. The main revenue source was from project sales at 92.38%, with the remainder from rental and service income, which has been steadily growing as the company expands into recurring revenue businesses.

Frasers: Total Revenue of 3,524 Million Baht and Net Profit of 159 Million Baht

Frasers reported total revenue of 3,524 million baht and a net profit of 159 million baht, with revenue increasing by 2.9% from 3,424 million baht, while net profit decreased by 50% from 317 million baht.

Origin: Total Revenue of 3,210 Million Baht and Net Profit of 464 Million Baht

Origin reported total revenue of 3,210 million baht, down 12.3% from 3,662 million baht, with net profit down 41.8% to 464 million baht from 798 million baht the previous year.

Quality House: Total Revenue of 1,797 Million Baht and Net Profit of 490 Million Baht

Quality House reported total revenue of 1,797 million baht, down 8.6% from 1,965 million baht, with a net profit of 490 million baht, down 17.3% from 592 million baht.

Asset Wise: Total Revenue of 1,750 Million Baht and Net Profit of 256 Million Baht

Asset Wise reported total revenue of 1,750 million baht, down 0.7% from 1,738 million baht, with a net profit of 256 million baht, down 9.4% from 283 million baht.

Forecast for the Thai Real Estate Market in the Second Half: How Much Momentum is There?

Mr. Anukool Ratphitaksanthi, Managing Director of Plus Property Co., Ltd., an expert ready to address all real estate service needs, revealed that 2567 marks the beginning of a year where the overall real estate market is expected to grow due to the recovery of the tourism sector and government economic stimulus policies. It is anticipated that real estate prices and purchasing demand will trend upward in the second half of this year. However, the real estate market still faces several challenges, such as interest rates remaining at a 10-year high, which keeps the financial cost of purchasing housing high compared to consumer purchasing power, leading to an increase in non-performing loans from housing loans and overdue home debts. Additionally, the strict credit assessment by banks at this time requires buyers to be more financially prepared. According to the Kasikorn Research Center, the measures are expected to result in approximately 279,000 housing transfers nationwide in the remaining half of 2567, a 1% contraction (YoY), which may cause real demand consumers to delay their housing purchase plans to monitor the situation regarding policy interest rate adjustments by the Monetary Policy Committee (MPC). Nevertheless, the real estate market still has several risk factors to monitor and prepare for. Plus Property is confident that in the second half of 2567, the real estate business will maintain its competitive potential, and operators must keep an eye on the volatile economic situation and adapt to create new opportunities for their businesses.

*Data presented by Plus Property from www.set.or.th as of May 16, 2567