Homebuilder Seacon expects a recovery in self-built home demand in the second half, projecting a year-on-year drop of less than 10% in sales for 2020.
Managing director Manu Trakulwattanakit said the virus outbreak affected the self-built home market from March to May when the country was under lockdown.
Sales were zero during the period, before picking up in June after the restrictions were lifted.
"Sales in July were not as good as in June, when there was pent-up demand," he said. "If situation in the fourth quarter is more favourable, with no second waves of outbreak, we will achieve sales as targeted."
In the first half, Seacon recorded around 570 million baht in sales, a 12.5% fall from 650 million baht in the same period last year.
The company projects a full-year decline of less than 10% from 1.4 billion baht booked in 2019.
For sales in the first half, 48% were for units priced 5-10 million baht, followed by units priced 3-5 million accounting for 24%.
Those buying units priced higher than 10 million baht and units lower than 3 million represented 14% each.
Around 200 million baht was from online channels, up from 160 million for the entirety of 2019.
Mr Manu said the self-built home market represents real demand, a segment where any incentives or measures will be unlikely to help.
Seacon expects to boost sales in the second half through three events for homebuilders: Baanlaesuan fairs in August and October and a Homebuilder Association fair in October.
He said the homebuilding market this year will see a drop of 10% from 12-13 billion baht last year, if Thailand doesn't face a second wave.
Seacon opened a new branch yesterday on Ngam Wong Wan Road in Nonthaburi, where it spent 10 million baht to build a showcase house priced at 6 million to tap customers in northern Bangkok.
This year the company plans to launch six new home designs priced 7-10 million baht a unit, down from 12 new designs per year.
"We adjusted our strategy to allow customers to use their own designs created by their own architects," said Mr Manu. "Earlier, customers were required to choose from our designs only."