Surachet Kongcheep, managing director of Sansiri, reported that Sansiri achieved the highest revenue among property developers in the first nine months of the year, with sales totaling 28.87 billion baht from luxury houses and condominiums.

Other top developers include AP (Thailand) with 27.67 billion baht, Supalai with 22.79 billion baht, SC Asset with 14.45 billion baht, and Frasers Property Thailand with 13.53 billion baht in sales.

Supalai led in profits, amassing 4.20 billion baht, followed by Sansiri with 4 billion baht, and AP (Thailand) with 3.72 billion baht.

Despite a year-on-year decline in profits for these top three developers, many others surpassed 1 billion baht in profit, amid prevailing negative sentiments in the Thai property market.

Surachet highlighted unchanged market sentiment in the fourth quarter, with a focus on mortgage approvals over interest rate reductions.

Financial institutions remain strict on mortgage approvals, pushing developers to maintain or cut property prices and implement customer-attracting measures.

While 2023 performance may not be exceptional, developers are expected to surpass last year's revenue and profit figures by year-end.