Plus Property Co., Ltd. has compiled the performance results of leading real estate companies for the first half of 2024. Despite challenges in the Thai economy, including high household debt and rising interest rates, Sansiri Public Company Limited achieved the highest total revenue, reaching 19,784 million baht. Following closely is AP (Thailand) Public Company Limited with a revenue of 17,845 million baht, and Land and Houses Public Company Limited with a revenue of 14,725 million baht, securing the top three positions in the market. The total revenue of the top 10 companies exceeded 103,184 million baht. Additionally, six real estate stocks, namely SIRI, SPALI, SC, PSH, QH, LPN, are preparing to pay interim dividends, led by SIRI with the highest yield of 4.4%. The ability of these companies to maintain strong performance during economic fluctuations reflects the resilience of the Thai real estate sector and the adaptability of its operators.

Mr. Anukool Ratphitaksanti, Managing Director of Plus Property Co., Ltd., stated, "Although the overall real estate market faced several negative challenges in the first half of the year, including economic slowdown, rising interest rates, the lack of relaxation in the Bank of Thailand's LTV measures, and household debt issues, which align with the Thai Bankers' Association's forecast that the household debt ratio is likely to rise to 91.4% of GDP by the end of this year, remaining a major issue for the Thai economy. However, there are still positive signals from government economic stimulus measures, such as tax reductions and transfer fees for residences priced below 7 million baht, which have helped stimulate parts of the real estate market. Additionally, there remains a segment of customers seeking luxury housing, allowing many operators to sustain their revenues and profits, reflecting their ability to adapt and seek new opportunities in the market."

Regarding the outlook for the second half of the year, Mr. Anukool believes that the real estate market will continue to face uncertainties. Operators are looking for competitive opportunities and identifying their strengths to meet customer demands. Some groups are diversifying their marketing across various segments or targeting niche markets more specifically, such as pet-friendly residences or campus housing. The rental market is also becoming more active, supported by the return of foreign nationals. Nevertheless, all parties are closely monitoring government economic and real estate stimulus measures, which are expected to be crucial for the recovery of the real estate market and the long-term driving force of the country's economy.

Plus Property has compiled the performance results of the top 10 leading real estate companies for the first half of 2024 as follows: 1st place is Sansiri with a revenue of 19,784 million baht and a net profit of 2,702 million baht, representing an increase of approximately 7% compared to the same period last year. AP (Thailand) follows in 2nd place with total revenue of 17,845 million baht and a net profit of 2,277 million baht, with most revenue recognized in the second quarter. In 3rd place is Land and Houses, followed by Supalai. All four of the top companies reported revenues exceeding 10,000 million baht and net profits over 2,000 million baht. They are followed by Pruksa, SC Asset, Origin, Asset Wise, Q House, and Ananda in that order.

Additionally, a survey of six real estate stocks that paid interim dividends in the first half of 2024 revealed that Sansiri remains outstanding in 1st place, paying a dividend of 0.07 baht per share with a yield of 4.40%. Supalai follows with a dividend of 0.60 baht per share and a yield of 3.6%. SC Asset pays a dividend of 0.05 baht per share with a yield of 2.0%. Pruksa pays a dividend of 0.15 baht per share, Q House pays 0.03 baht per share, and LPN pays 0.05 baht per share, with all three companies yielding 1.7% each.

"The real estate market in 2024 is expected to gradually recover slightly after contracting in previous periods. The main supporting factors come from economic drivers and the ongoing demand for housing. However, the real estate market in the final quarter will still face challenges from rising costs, interest rates, and intense competition from promotions. Operators will need to adapt by seeking new customer segments, targeting high purchasing power customers, or focusing more on specific niche markets, while strengthening their marketing strategies to cope with the ever-changing market situation," Mr. Anukool concluded.