Lalin Highlights Low Thai Economic Growth, Real Estate Challenges, Urges New Government to Address Debt

Lalin Property executive Chaiyant Chakrakul revealed the company's perspective on the real estate sector in 2024, noting that with Thailand's economic growth at only 1.5%, the real estate market will struggle to grow, likely not exceeding 3-5%. The company's operational plan will focus on maintaining liquidity, controlling debt, reducing costs, and launching precisely targeted projects. The company plans to launch 4-6 new projects with a total value of 3.5-5 billion baht, carefully analyzing internal and external factors including international politics, geography, social trends, and tourism. These projects will be divided into three main groups: replacement projects in Bangkok, projects in strategic provinces (especially tourist destinations), and areas with significant investment inflows. Lalin will utilize five main brands covering different market segments, from townhomes to single-family homes priced between 2-12 million baht. The company expects sales to remain stable at around 4,200 million baht, with projected income of 3,350 million baht, showing slight 3-5% growth. The executive also noted the growing rental market, driven by limited purchasing power and high household debt, suggesting that if debt issues are resolved, home buying demand could return. Regarding the new government formation, Lalin expects it to be completed by April or May, hoping for professional management and quick budget deployment.