Insider Condo “Truly not Secretly” by Jin Wellbeing County
To question condominium business for Silver Age group, hold it or go for it, is still no clear answer, but Jin Wellbeing County subsidiary company of Thonburi Healthcare Group PCL is launching a project in Rangsit with 140 Rai, approximately 224K sqm. It is not just a trial but they are fully confident that it will be successful. This project offers 7 floors Low-rise buildings, the room size ranges from 43-63 sqm, 13 buildings. The 1st lot will be launched with 2 clusters, 494 units, price starts from 3.6-6 million baht.
Thitaree Yoowittaya, Marketing Vice President, reassures that before launching this project, they have 2 market researches which is done with the company and also by the professional firm.
The research found out that people are more into condominium living lifestyle, if so, buying condominium for retirement, also, the raise of highly introverted person, and small family, that’s the way it is. Moreover, Silver Age group has stable job, able to take care of themselves, has their community with friends. You cannot beat this tremendous results, so why not make it happens!
Truly but not secretly
Thitaree yearns to share her experiences, definitely benefited to the market.
“First of all, the feedbacks are partially good as expected, we hoped for higher sales on the opening day because there were high volume of interests but they did not making any decisions to buy it yet. In average, we sales 20 rooms per months over the past six months, no doubt, it is a good number for a niche market, on top of that, this project is still constructing, expecting higher sales when it finishes, but we thought we could grow faster”
She thinks 4-6 million baht per unit is achievable for B+ group as they are the majority of the Thais.
“We forgot this is not their 1st house, we cannot use the same methods. This house requires a huge capital, it might be their last cents, many show their interests but not in a rush to get it”
Some of them just finished paying off their house loans, or still repaying, making decision to buy a new house would hold them back unless there will be Reverse Mortgage supported by the banks, that would help to heat up this market.
Secondly, people desire bigger space, 60 sqm has higher demands than 40 sqm, mostly very high income, A+ group.
“65-70% can effort 6-7 million baht per unit with 2 bedrooms and 2 toilets, we could not imagined this price range lures lots of buyers, even though, it would have gotten them a house in Rangsit area for the same price”
As the result of that, B+ group maybe interested and easily make up their minds if the price comes down, we will definitely redesign the price range for the next project. However, minimum room space should be 40sqm., it will be have enough room for wheelchair to be able to move around.
Most clients are 51 years and above
70% of buyers are 51 years old and above, buying to their retirement, and 30% ranges from age 35-50 years for investing, for parents or for themselves.
This housing project will be ready to move in by the end of this year, the buyers now still lively, and active. It is questionable of what this place will be like in 15-20 years down the road, there is possibility that it will be full of aged group.
“We could not agree more on that, but only in some parts of the project. Currently, we are using only 15% of our lands, for future clusters there will be more mixed age groups”
The majority of buyers pay up by cash, or, make reservation payment and later pay lump sum, the last 10% would make house mortgage with the banks but the repayment is shorter than the young ones.
Friend, Community, Nursing that is all they need
She also added that this project understands the needs of the people who buying it for the last place for themselves. It offers convenient lifestyle and technology, located near the hospital, good security system, and social activities which buyers will not feel lonely while staying here.
Jin Wellbeing County has strong health care background, it is run by Dr. Boon Wanasin, the owner and founder of Thonburi Hospital. He has strong knowledge in healthcare which benefited and built strong confidence for our buyers.
“ it is a certainly new market to us, we believe in our research results, there is a potential, we learn as we grow” Thitaree admitted and added that she is now looking for real estate professionals to join the team for a better and stable business.
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