SET-listed Golden Land Property Development Plc (GOLD) plans to launch six new mid- to high-priced single detached house projects worth a combined 10 billion baht in 2019, tripling last year's figure.
Wirat Monjaroenporn, managing director for single detached house projects, said the company will be more aggressive in new launches of single detached houses this year because demand in the segment remains strong despite the new loan-to-value (LTV) limits.
"The middle- to high-priced single detached house market is not as hot as condos but sees steady growth every year," he said. "Most of our target customers are not first-time buyers but are relocating from existing homes."
Mr Wirat said the segment of single detached houses priced from 10 million baht a unit will not be affected by the LTV limits, which will take effect on April 1, as the company collects 20% of down payment.
For units priced below 10 million baht, demand is mostly from first-time homebuyers. If they are mortgage loan borrowers, they have paid for the mortgage for over three years.
Mr Wirat said the company has set a budget of 2.8 billion baht for the acquisition of new land plots for single detached house projects in the mid- to high-priced segment, up from 2 billion baht it spent last year.
Land costs for units priced at 7 million to 15 million baht will be no higher than 10 million baht per rai. Those for units priced at 20 million baht and above should be between 10 million and 16 million baht.
The company is also looking for a land plot of 15 rai near the inner city to develop a three-storey townhouse project with 100 units per site and units priced between 10 million and 20 million baht. The new segment will be launched next year.
Golden Land aims to have 8 billion baht in presales and 5 billion baht in revenue from single detached houses, which will account for 27% of targeted revenue of 18 billion baht.
Presales and revenue will grow 17% and 20% respectively from 6.84 billion baht and 4.17 billion baht in 2017, when they rose 49% and 29%.
GOLD shares closed yesterday on the SET at 8.30 baht, up five satang, in trade worth 22.9 million baht.