Thailand’s worst flooding in years may have a silver lining for the housing industry.
Uthai Uhaisaengsuk, senior deputy managing director of developers Sansiri, said that his company has already estimated that floods will spur sales of condominiums as those with flooded homes seek alternate highrise housing, according to TANN.
Uthai said that flooding knocked Sansiri’s sales down 50 percent in October, but that sales have already rebounded in November. He added that none of their clients have sought a refund on their down payments or ceased making their monthly installments. He also revealed that 90 percent of condominium project Quattro has been sold.
Sansiri has sold 90 percent of its Quattro development.
