Siamese Asset reveals trends for the second half of 2023, emphasizing the horizontal strategy "Charm" to elevate to 'Luxury - Timeless Value' for Thai people, while launching luxurious pool villas near the park, Phase 2 in European Classic style, Monsane Exclusive Villa Ratchaphruek-Pinklao, in collaboration with Knight Frank to target the marketfor high-income customers with financial independence, addressing the goal of 'buy to live, invest for the future' starting from 29-50 million baht, with all transfer fees waived and discounts of up to 6 million baht*

Mr. Kachornsit Singhsang, CEO of Siamese Asset Public Company Limited, stated that

The overall picture for the first half of 2023 and trends for the second half present challenges on all fronts, particularly due to external factors such as U.S. interest rate policies and geopolitical uncertainties. However, equally important are domestic factors, especially tax policies related to real estate, which have begun to impact the behavior of high-end customers, such as land tax, second home tax, or income tax from asset investments. Although this customer group still has purchasing power, they are showing significant caution in decision-making. Consumers are no longer just looking at beautiful projects or good locations but are considering the long-term value of assets, project sustainability, and tax efficiency.

Siamese Asset's brand development strategy thus aims to elevate the horizontal brand under the name "Charm" to become a luxury brand for Thais, not just a residence but an "experience of living" that pays attention to design, living functionality, and the selection of project locations that integrate nature and convenience.

“Developers who truly understand these aspects and can design projects that meet the new economic dimensions, such as designing homes that can adapt functions, using energy-efficient materials, or tax planning that aligns with customers' lifestyles will create competitive advantages. The second half of this year will be a test for developers who have discipline and understand the New Demand in-depth beyond just competing on price,” Mr. Kachornsit stated.

Timeless Beauty Merging Innovation for Health and Safety

The standout feature of the Monsane Exclusive Villa project begins with the design of super-luxury pool villas in the Ratchaphruek-Pinklao area.

The new phase of pool villas is developed to meet the needs of customers seeking high privacy, with large usable spaces, corner plots for every house, starting from 100 square wah of land, and close to nature, particularly appealing to new families, business people, and expatriates looking for homes in the city that feel like a resort. Additionally, it is suitable for long-term investment buyers, as this type of real estate has high rental demand and good future valuation.

“This new phase is designed to accommodate new families seeking a comprehensive living space in a single-family home, both for residence and relaxation like a private resort, as well as investors looking for assets with potential for long-term value appreciation. The pool villas near the park are not just homes but Investment-Grade Assets that create both living value and future appreciation,” Mr. Kachornsit stated.

Every project by Siamese Asset will have its uniqueness and truly reflect the tastes of high-end residents. The brand “Charm” is not just a project name but a new standard for luxury living, with timeless architecture, functional solutions for real life, and the integration of health and safety innovations under the concept of Luxury Living with Wellness Integration.

“We aim to create homes that are not just residences but elevate the quality of life for customers in every dimension, in one of the highest potential locations in Bangkok that connects both the old and new city. We incorporate Smart Home technology and energy management systems, as well as Wellness Space functions to support the strong health trend. Customers will enjoy tranquility, privacy, and superior amenities,” Mr. Kachornsit stated.

Health innovations implemented within the “Charm” project address luxury, sustainability, and long-term quality of life, including:

  • Air of Life, an air purification system within the home that helps control air quality to be clean, fresh, dust-free from PM2.5 and allergens, ideal for health-conscious families.
  • Solar Solution that helps reduce long-term electricity costs, supporting sustainable energy use in line with the Green Living concept.
  • Doors and windows from TOSTEM (LIXIL Japan) model ATIS, known for their strength, durability, soundproofing, and modern design, providing both safety and beauty to world-class standards.
  • EV Charger supporting electric vehicles, catering to environmentally conscious high-end customers with a growing trend.

All of this is included in a modern design home, in a high-potential location, with perfectly allocated usable space and the highest safety standards in construction. Siamese Asset is committed to developing projects that meet the lifestyle needs of high-end customers in the new era, emphasizing luxury, sustainability, and long-term quality of life. The company has also received the EDGE Champion award, a global building certification standard for green buildings and sustainable construction measurement, including energy efficiency, water efficiency, and material efficiency.

Real Estate Trend: “Buy to Live, Invest for the Future”

Investment opportunities in real estate, especially high-end single-family homes, remain abundant due to land in urban areas and expanding urban areas showing a continuous upward price trend, particularly in locations with new infrastructure such as new subway lines, expressways, or rapidly growing community areas. Single-family homes, especially pool villas in such locations, tend to have good resale prices and high rental rates among expatriates, making them suitable for both personal residence and long-term rental.

“Luxury single-family homes continue to be highly sought after assets with limited supply, especially in high-potential locations like Ratchaphruek-Pinklao, where land values increase every year. Customers deciding today have a significant advantage because land and construction material prices are likely to continue rising. Siamese Asset has managed costs in advance for several projects and maintains the original selling prices during the promotional period, making this an opportunity for buyers to seize the moment at the original cost price, in a situation where costs are about to rise. Compared to similar projects in nearby zones, Monsane Exclusive Villa offers competitive pricing but superior quality in terms of location on a major road, design, and management systems, instilling confidence in customers to close deals, lock in costs, and create opportunities for long-term value appreciation,” Mr. Kachornsit stated.

The ‘Luxury Home Market’ continues to see increasing demand, rising to 37,775 units as of April 2023

Mr. Frank Khan, Partner - Head of Residential Advisory at Knight Frank Chartered (Thailand) Limited, stated that

Amid the challenges in the overall real estate market, the luxury residential segment has continued to grow from 12,349 units in 2019 to 37,775 units. From the second half of 2022 to April 2023, this reflects the continuous growth of the high-end housing market, even as the overall economy and lending criteria remain tight. However, high-net-worth asset buyers continue to be the main driving force in this segment, seeking residences that meet their lifestyle and long-term quality of life needs.

This continuous increase has become a clear signal since the second half of 2022, reflecting the demand from investors and actual buyers in the high-priced low-rise home segment, with new supply launches mostly in the 10-30 million baht range, accounting for 78% of all new supply, particularly in the 21-30 million baht range, which represents 30%.

Analyzing the distribution of luxury home supply by location in Bangkok and its vicinity, it is found that the area with the highest supply is Eastern Bangkok (Rama 9 – Krungthep Kreetha – Lat Krabang), accounting for 26%, followed by the Western suburbs (21%) and Western Bangkok (20%), reflecting the strong ongoing demand for luxury residences in the western part of the city, with “Ratchaphruek-Pinklao” being a high-potential location in this zone. Meanwhile, there has been no new supply in the Ratchaphruek area, especially in the first half of 2023, allowing for high returns per unit and lower stock risk than the overall market.

When analyzed by price range, demand is concentrated in the 10-30 million baht range, particularly in the 10-20 million baht range, which saw the highest sales of 13,891 units, accounting for 38% of total sales in the second half of 2022, reflecting the popularity among buyers seeking valuable mid-luxury products, followed by the 21-30 million baht range and the 31-40 million baht range, supported by factors such as large usable areas, reasonable unit prices, and the expansion of the subway network.

Overall, the larger supply indicates better sales momentum compared to stock levels, even though there is no new demand entering the market, while purchasing power in the ultra-luxury segment remains stable among a specific customer group. In the future, developers should focus on differentiating their products and offering solutions that meet the specific needs of target groups to ensure long-term market stability.

In the last week of August 23-24, Siamese Asset invites everyone to enjoy tea in the garden at Monsane Exclusive Villa Ratchaphruek-Pinklao, along with the opening of 4 villa styles in EUROPEAN CLASSIC design, homes designed for the perfect harmony of everyone in the family, with living areas ranging from 434-628 square meters on large plots starting from 100 square wah, selling at only 29-50 million baht, with all transfer fees waived and discounts of up to 6 million baht.

*Conditions apply as specified by the company.

For more information, call 1306 or https://monsaneexclusivevilla.com/

For further inquiries, please contact P.R. Mongkut Phet Co., Ltd.

Poranut Varakijphokathorn (Or) Tel. 061-924-9445, Nipol Prasitsombat (Joe) Tel. 089-770-1411