One of Thailand’s leading property-for-investment developers, Habitat Group, is ramping up its expansion into international markets by promoting two of their premium condominium developments – Walden Sukhumvit 39 and Walden Sukhumvit 31 – at roadshows to Beijing, Shanghai and Guangzhou. This drive into China follows the Group’s recent successful roadshow in Hong Kong. Habitat Group is confident in Bangkok’s premium condominium sector and its appeal to international markets, especially Chinese buyers and investors, and has plans next year to expand into other markets in Asia and the Middle East.
Chanin Vanijwongse, Habitat Group chief executive officer, said:
“Premium condominiums have shown a strong, positive growth trend and appeal to international buyers. As part of our strategic expansion, we will increase our international buyer base starting with China and Hong Kong. We plan to continue our expansion into other international markets by activating sales across all channels, including organising stand-alone international roadshows as well as collaborating with new partners to penetrate new markets.”
In November this year, Habitat Group organised a roadshow to Hong Kong which delivered satisfactory sales, and through December 2018 and January 2019 the company has partnered with Chinese agencies to conduct marketing activities in three of the country’s largest urban markets – Beijing, Shanghai and Guangzhou – to reach potential Chinese buyers.
Of the two developments Habitat Group will promote to the Chinese market, Walden Sukhumvit 39 has 50 units available for international buyers, with a combined value of approximately Bt400m, and sales are expected to complete during the first and second quarters of 2019. At the beginning of 2019, Habitat Group will open international sales for Walden Sukhumvit 31, which has a reserved quota for international buyers cumulatively valued at approximately Bt400m and will showcase to potential buyers at the Chinese roadshows.
“While growth of international property sales to Hong Kong and Chinese buyers has slowed due to the anxiety about the unstable economic situation between the US and China, we still see high potential among Chinese buyers who are interested in premium condominiums in the Bt5-10m price range. This is Habitat Group’s target market and we are confident the two developments we are promoting in China will be well received. We also believe that after Chinese New Year in early 2019, purchasing power of Chinese buyers will increase again,” added Chanin.
Apart from current efforts in China and Hong Kong, Habitat Group recognises the importance of other markets and is looking at new markets such as the Middle East as well as markets in Asia such as Japan, Taiwan, Singapore and Malaysia.
“Even though we are targetting China and Hong Kong currently, we are always looking for new market opportunities. We are ready to expand our client base by collaborating with new partners, implementing effective strategies and increasing channels that will eventually lead us to more new markets. This is part of our 2019 overall strategy and will bode well as we launch new property projects through next year,” said Chanin.
“Habitat Group believes that international buyers will grow more next year because of Thailand’s strategic position as the hub of south-east Asia. Thailand has many world-class tourism destinations, including Bangkok and Pattaya, and international visitor arrivals continue to increase annually. This, in turn, will have a positive impact on the growth of investment in Thailand property and with the upcoming Eastern Economic Corridor project, tourism destinations in the eastern region of Thailand like Pattaya can expect to see further growth.”