Pruksa Real Estate launched luxury single detached houses called The Palm Residences Pattanakarn, valued 2.6 billion baht with 57 three-storey units.

While Thailand's real estate sector should remain stable next year, developers are upbeat about the possibility of easing loan-to-value (LTV) measures to help the sector, particularly the middle-income segment, according to Pruksa Real Estate.

Dhira Thongwilai, chief executive of Pruksa Real Estate, said the sector shrank 20% year-on-year in 2024 and this trend should continue in 2025.

However, in the first quarter next year the industry should improve as most developers can drain their stocks, he said.

Regarding the anticipated relaxation of LTV rules next year, Mr Dhira said this factor should help encourage purchasing from buyers looking for second homes, leading to more affordable mid-priced project developments.

The company plans to emphasise this segment next year, with single houses priced 7-15 million baht, he said.

"We will focus on appropriate supply and project size, targeting niche markets instead of the mass market in the past," Mr Dhira said.

Pruksa has an accumulated backlog worth 3-4 billion baht. Revenue from this backlog should be recognised by the end of this year, he said.

The firm's inventory of single house projects has a total value of 4 billion baht, of which 40% are houses valued at 3-5 million baht.

Pruksa Real Estate recently launched luxury single detached houses called The Palm Residences Pattanakarn worth 2.6 billion baht, offering 57 units of three-storey houses, ranging from 421-500 square metres. The presale prices start from 45-80 million baht.

This project is its fifth residence offering launched this year under the wellness living theme.

The total value of wellness living residences this year tallied 10 billion baht, accounting for 50% of the total value of new projects in 2024, said Mr Dhira.

He said the strength of this new project is its location within Pruksa Avenue Pattanakarn, which comprises 14 Pruksa projects.

Pattanakarn has become a popular Bangkok location with convenient connections to downtown, Suvarnabhumi airport and Chon Buri, said Mr Dhira.

The project is certified by the Thai Green Building Institute based on its environmentally friendly materials and construction, allowing up to 50% energy savings.

The project provides smart home facilities and solar cells, as well as 24-hour concierge and health services from Vimut Hospital.