SET-listed developer Sansiri is declining to join an escalating price war in Bangkok’s luxury housing market, arguing that long-term value creation matters more than deep discounts as developers compete for buyers amid slowing economic conditions, the Bangkok Post reported. Pakpring Karoon, the company’s deputy vice-president, said competition has intensified across almost every residential segment, with some developers offering discounts of 20-30% on luxury homes — for example, houses previously priced at 50 million baht now offered around 39 million baht. “We are not competing on price. We are competing on value,” she said. “If everyone continues cutting prices, the market simply enters a race to the bottom.”
The price competition began in late 2025 and became more pronounced in the first half of 2026 as more developers expanded into the luxury segment. Pakpring said luxury buyers today are no longer looking at price alone: “They want value and capital appreciation. A home priced at 80 million baht should be worth 85-90 million in five years.” She said buyers increasingly evaluate projects on long-term asset value, design quality, after-sales service and a developer’s ability to preserve property values, rather than headline discounts.
The strategy has helped sustain demand for Sansiri’s premium projects, with Narasiri developments on Borommaratchachonnani Road and in the Krungthep Kreetha area achieving strong sales without price cuts. Narinsiri Krungthep Kreetha, where homes are priced around 50 million baht, is nearly sold out — a result Pakpring called a surprise given the economic environment, with many buyers being existing Sansiri customers upgrading from smaller homes.
References
Bangkok Post — Sansiri avoids luxury price war as discounts near 30%
