Property agency CB Richard Ellis (Thailand) has reopened presales of luxury condominium project The Met after suspending sales two years ago to wait for demand to recover.
The company's managing director Aliwasa Pattanathabutr told a press conference yesterday that the project now had only 40 units from a total of 370 at a price range between Bt13.5 million and Bt65 million each. The company, appointed to be the sales agent for the project, reopened sales after adjusting selling prices from an average of Bt110,000Bt120,000 per square metre to between Bt140,000 and Bt180,000, an increase of 2030 per cent.
"We suspended sales of this project two years ago when faced with the global recession and the country's political problems, but now we believe that the market has signs of recovering for both domestic and foreign buyers. That is why we suggested that our customer open presales again," she said.
The company plans to sell out the project within six months.
The Met is a luxury condominium project on Sathorn Road owned by Hotel Properties Limited Group (HPL) of Singapore.
The project has 370 units, ranging from two to four bedrooms and luxury penthouses.
This is the second luxury condominium project to reopen presales, after Saladaeng Residence, which announced it was opening sales again last week.