Stock dimension – real estate group Summary of 2022, a great year
Stock dimension – Kasikorn Securities stated that Overall sales in 2022 are in line with the target. The 12 major housing developers under analysis Reported 2022 presales of Bt282 billion, up 25% YoY, in line with the total target set at the start of the year of Bt287 billion, with demand for low-rise housing remaining very strong. Sales of this line of products increased by 14%, reaching a new high of 180 billion baht.
Although there are clear signs of a recovery in condo demand in 2022 from a 50% increase in sales to 102 billion baht, it is believed that such positive developments come from a good economic recovery following Thailand reopens the country. in mid-2022. AP, BRI, ORI, SC and SENA reported a new record annual sales.
The confidence drives the launch of a number of new projects. The launch of new projects in 2022 of all 12 property developers at 319 billion baht is a significant growth of 127%, if divided by product. New low-rise products increased 118% YoY to 226 billion baht.
While new condos rose to 92 billion baht, although this was a 152% YoY increase, it was still far below the 2018 peak when new condos were added to the market worth 183 billion baht. The launch of the above new projects is quite high level. But it is still much lower than the original plan to launch new projects worth up to 385 billion baht in 2022. Labor shortages are likely the cause of the discrepancy. not demand
therefore maintaining a positive view on housing groups Strong earnings in 2022, an announcement of an aggressive business plan for 2023 and a seasonal dividend will support our research recommendation. At least in the next 2-3 months.
However, stock selection strategies are individual companies. should be used more in 2023 as growth tends to slow down which still likes leaders like AP (target 13.80 baht), LH (target 10.50 baht), ORI (target 13.90 baht), SPALI (target 26 baht), SC (target 4.60 baht) and SIRI (target 1.69 baht), but stocks High growth potential like BRI and recovering stocks like ANAN and QH are interesting for investors who want a different investment story.
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