Chewathai expects condo glut from Chinese exodusMr Boon projects a price war between small and large developers. Competition in the condo market will escalate as a large supply booked by Chinese buyers will return to the market, says MAI-listed developer Chewathai Plc. Many of these projects had Chinese buyers making up at least 49% of the units, said Boon Choon Kiat, Chewathai's managing director. In 2020, the company expects to launch four new projects worth a combined 3.6 billion baht: three low-rise housing projects and one condo. Chewathai expects a profit by year-end following transfer of residential units worth some 2 billion baht, with 1.12 billion from condos and 880 million from low-rise houses.

Source: Bangkok Post February 18, 2020 22:30 UTC