The current political situation has failed to affect sales of property at Fragrant Group, according to its Chief Executive Officer James Duan.
Duan (pictured) said his company is currently selling between 8 and 10 units per week, and its main customer base is foreign buyers who are attracted to Thailand property by the weakening baht.
Some customers buy their units in cash as they view this as a very economically opportune time, he said, adding that the company’s plans to launch a new project in the second quarter of 2014 have not changed.
He said: “Many parties may view that the prolonged political problems and the state of emergency will alarm foreigners, or violence will multiply so foreigners will choose to postpone their investments, or take their investment funds out of Thailand. But for Fragrant, we have seen the opposite effect, thanks to the steadily weakening value of the baht that has made purchasing decisions easier for some customers.
“Sales from foreign investors has thus bolstered and stabilised the company’s overall sales,” he added.
New developments from Fragrant Property include innovations in residential living that are both modern and environmentally sound, which has made condominiums under the ‘Circle’ brand a trusted name for many buyers.
Foreign buyers are especially interested in the eco-friendly quality of the condos, as this is the norm in many foreign countries. In Thailand, this is just the beginning of this eco-friendly type of development, and it is still rare to find such green condos.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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