Sansiri upbeat on low-rise

Project launches maintained despite Middle East war

PUBLISHED : 9 May 2026 at 06:08

WRITER: Molpasorn Shoowong

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SET-listed developer Sansiri remains bullish on low-rise projects scheduled for launch in the second quarter, supported by easing interest rates and manageable expenses as the company expects housing prices to increase in the third quarter.

Pakpring Karoon, vice-president of low-rise marketing at Sansiri, said the property market should remain upbeat in the second quarter despite the Middle East crisis as developers can manage their expenses and inventory levels in line with consumer demand.

Most projects launched during this quarter had expenses locked in before the Gulf conflict, said Ms Pakpring.

The easing of the loan-to-value measure and low interest rates of 2.5-3% are encouraging buying decisions, making this period an appropriate time to purchase a house at a preferable price, she said.

During the past 2-3 months, demand increased from investors who gained substantial dividends from stock earnings last year, as they shift to invest in other assets such as property, said Ms Pakpring.

This group is supporting the single-house rental market in Bangkok, particularly near international schools in areas such as Bang Na and Krungthep Kreetha, targeting foreign tenants.

However, construction costs could rise by 5-10% after the second quarter as the conflict continues, pushing up housing prices and affecting the second phase of projects that have already been launched.

This year Sansiri plans to launch 17 low-rise projects totalling 25 billion baht, five of which have already been introduced to the market, including the recent Setthasiri Great Wongwaen-Chatuchot.

The project is valued at 3 billion baht, comprising 156 units with the first phase including 15 units.

Prices range between 16.9 million and 30 million baht across four house types, from four-bedroom homes with 287 square metres of usable space to five-bedroom units with 504 sq m. The project has more than 10 rai of common space.

The company targets 21 billion baht in presales this year. During the first four months, an average presales of 2 billion baht per month for low-rise projects was recorded.

Sansiri is also preparing to launch a low-rise project under the Setthasiri brand worth 2.5 billion baht in northern Bangkok.

According to Cushman & Wakefield Thailand, there are about 20,000 houses priced more than 10 million baht in Bangkok, of which 70% are priced between 10-30 million baht.

Surachet Kongcheep, the company's head of research and consulting, said even though ownership transfers for housing in this price bracket declined by 5% during 2024-25, this remains a lower rate compared with other segments, indicating developers are still competing for high-spending demand.

Buyers are young entrepreneurs aged 30-35 who are successful in their careers, as well as those planning to expand their families.

According to the Treasury Department, land prices in the Wongwaen-Chatuchot area have increased by an average of 8-12% annually.

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- KEYWORDS

- Sansiri

- Bangkok property market

- Low-rise housing

- Real estate investment

- Setthasiri

- Bangkok real estate

- Housing market trends