Mr Wirat says the hotspots for high-end single houses are Bang Na, Pin Klao and Rama II.

SET-listed Golden Land Property Development Plc (GOLD) aims for sales growth of 30% in the high-end single-house segment for units priced from 20 million baht this year, citing strong purchasing power and limited supply.

Wirat Monjaroenporn, managing director for single detached house project development, said demand in the segment remains steady.

“Purchasing power in the high-priced single-house market is strong," he said. "Customers include local business owners, manufacturers and high-ranking executives. But demand from exporters remains soft.”

Mr Wirat said three popular zones for the segment are Bang Na, Pin Klao and Rama II, as they are located not far from the inner city and have easy access to expressways. These zones also have large land plots available for the development of luxury housing projects.

In the Pin Klao area, the overall market for single detached houses priced at 20 million baht and above recorded 4.05 billion baht in sales in 2017, down 11% from 4.52 billion in 2016.

But 2017 sales outpaced those in 2015, totalling 3.47 billion baht, Mr Wirat said.

Golden Land expects sales in that segment to reach 2.67 billion baht for the company's fiscal year ending in September 2018, which would represent growth of 31% on the previous fiscal year.

That sum would account for 65% of total sales for single detached houses in all price ranges, which Golden Land targets at 4.1 billion baht this fiscal year, up from 3.3 billion baht in 2017.

For October 2017-September 2018, the company plans to launch 26 residential projects worth 30.5 billion baht.

Those projects will comprise four single detached house projects worth 5.3 billion baht and 22 townhouse and duplex projects worth 25.2 billion.

In the first five months of 2018, the firm launched six projects worth 5.2 billion baht and recorded 3.11 billion baht in sales.

Currently, Golden Land has 3,059 units at 41 projects up for sale worth a combined 14.4 billion baht.

Those projects comprise 485 single houses worth 7 billion baht and 2,574 units of duplex houses and townhouses worth 7.4 billion.

Of this amount, 187 units are single detached houses priced at 20 million baht and above with combined sales value of 4.66 billion.

The highest price is 120 million baht for a fully furnished unit on a plot of 350 square wah and usable area of 825 sq m at The Grand Pinklao project, which has 131 units worth 4 billion baht, of which 10% are sold.

GOLD shares closed yesterday on the Stock Exchange of Thailand at 10.60 baht, up 30 satang, in trade worth 36.55 million baht.