Ongart Suwannakul

SET-listed developer Sansiri has maintained its condo presales and revenue targets set in February, as buyer sentiment for high-rise condos improved one month after the earthquake.

Ongart Suwannakul, senior vice-president for high-rise project development, said the company recorded weekly condo presales of 300 million baht since early May, returning to the typical level posted in the first quarter of 2025.

"After the earthquake, we temporarily paused sales activities at our high-rise condo projects to assess and repair damage caused by the tremor. Fortunately the impact was minimal, with no structural damage," he said.

In April, the company recorded weekly condo presales of 200 million baht, all from low-rise projects.

A recent internal review of its business plan found no need for changes.

On Feb 5 Sansiri announced plans to launch 15 new condo projects worth a combined 20.4 billion baht, targeting 19 billion baht in condo presales and 15 billion baht in condo revenue by the end of this year.

"We're confident in meeting our condo presales and revenue targets, as our projects have proven structurally sound," he said.

"After assisting residents with unit inspections and estimating repair costs following the quake, we found no structural damage at any of our sites."

Of more than 80,000 condo units across 225 projects developed over the past 40 years, around 30,000 were affected by the earthquake, he said.

"If a building is designed in accordance with earthquake-resistant regulations and constructed properly according to the legal codes, it will definitely be safe from earthquakes."

After the earthquake on March 28, Sansiri installed acceleration sensors at one of its high-rise condo projects to monitor the building's structural health and use real event data to review and improve construction standards.

Unlike the great flood in 2011, which prompted many low-rise homeowners to buy condos as second homes, the earthquake has not changed most condo residents' preferences, said Mr Ongart.

"Condos remain popular as both primary and secondary homes, due to their proximity to transit and workplaces," he said.

"Today's condo buyers tend to be younger, often starting in their early 20s, compared with 25-30 previously."