SET-listed AP Thailand's low-rise sales and Sansiri Plc's condo discounts drove them to the top rankings for residential transfers last year with a combined 91 billion baht.
AP reported residential transfers worth a combined 46 billion baht in 2020, 13.5% higher than its target of 40.6 billion and the highest since it was founded in 1991.
Sansiri posted 45 billion baht in transfers last year, the highest since its establishment in 1984, for growth of 45% from 2019. Sansiri also bested its target of 43 billion baht.
"The 46 billion baht in transfers will likely be the largest in the industry," said Vittakarn Chandavimol, AP's chief of corporate strategy and creation.
"Revenue and net profit figures should follow in the same direction."
The key driver of low-rise transfers last year was new single house and townhouse projects, totalling 39 projects worth a combined 41.8 billion baht.
From a total of 40 new projects worth a combined 45 billion baht AP launched last year, only one was a condo project, worth 3.2 billion baht.
In the first nine months of 2020, AP recorded a total of 24 billion baht in sales, down 15.7% from 28.6 billion in the same period of 2019.
This decrease was mainly attributed to the decline from condos, to 3.16 billion baht from 12.7 billion in the same period.
However, low-rise housing had sales growth of 32%, from 15.8 billion baht to 20.9 billion for the corresponding period, with the third quarter posting a record high of 8.1 billion baht, up 5% from the second quarter of 2020 and 77.6% from the third quarter of 2019.
Chief operating officer Uthai Uthaisangsuk said Sansiri's residential transfers in 2020 were driven by condo units, tallying 25.5 billion baht, up 50% from 2019, while low-rise transfers rose 39% year-on-year to 19.5 billion.
"Speed to market was the key to success, with attractive promotions such as 24-month free instalments," he said.
"This led to 15 billion baht we gained last year, and we will continue using this strategy this year."
Sansiri was able to close sales of 35 projects last year, including super-luxury condo project 98 Wireless, super-luxury single detached house project Baan Sansiri Pattanakarn, luxury condo The Monument Thong Lo and high-end townhouse Tiger Lane.