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Property agency Bangkok CitiSmart expects new branches opening in
Pattaya and Hua Hin to result in sales growth of at least 33 per cent to
Bt3.2 billion next year.
The company, a subsidiary of Asian Property Development, was established
in 2006. After opening the Pattaya branch yesterday, chief executive
officer Pumipat Sinacharoen said the agency was seeing strong demand for
sales and rentals in Pattaya from both the domestic market and
overseas.
As a result, the company is expanding its business in the resort town.
It expects sales of Bt150 million next year from a portfolio of between
200 and 300 units worth Bt1.5 billion.
"We also plan to open our next branch in Hua Hin in the first quarter of next year," Pumipat said.
The
company has a total of 11,000 units worth Bt45 billion in its
portfolio, with about 6,000 active customer units worth Bt27 billion.
The
first step in the company's strategy for the Pattaya market next year
will see it focus on the domestic market. The agency will target buyers
in Bangkok looking to buy a second home in Pattaya for between Bt2
million and Bt6 million per unit.
In 2012 the company will
focus on foreign buyers looking for a vacation home at a price of more
than Bt6 million per unit. In 2013, the target will be customers who
live in or close to Pattaya, such as workers in Map Ta Phut in Rayong.
Pumipat
said demand for properties in Bangkok, especially those close to the
mass transit system, had grown continuously from 2003 until now because
of rising transport costs. The average value of condominiums near the
mass transit system had risen from Bt78,065 per square meter in 2006 to
Bt121,916 per square meter today.
In Pattaya, local and
Bangkok property developers are launching an increasing number of
residential projects, leading to healthy resale and first-home markets,
Pumipat said.
Foreign agencies in Pattaya remain the
agency's major competition. As a result the company will expand in this
market after it has succeeded in Bangkok, he said.
The
company recorded sales of Bt2.1 billion in the first ten months of this
year and expects the figure to reach Bt2.4 billion by year-end.
By SOMLUCK SRIMALEE
THE NATION, PATTAYA
Published on November 27, 201 click here to source
Contact Bangkok CitiSmart Pattaya Branch Call 038-412565-6
e-Mail : info@bkkcitismart.com
Website : http://www.bkkcitismart.com/pattaya
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