Bangkok: Sena Development Public Company Limited (SENA) is taking proactive steps to address the negative factors impacting the real estate market, particularly the effects of US tariff measures and rising steel prices that are influencing the sector in the second quarter. The condominium market, in particular, is experiencing a notable slowdown, prompting the company to introduce innovative solutions to assist consumers in accessing housing.
According to Thai News Agency, Ms. Kesara Thanyalakphak, Managing Director of SENA, highlighted that the tariff measures implemented by US President Donald Trump have had a significant impact, comparable to the effects of an earthquake. The rising price of construction materials, especially steel, is another concern attributed to the ongoing trade war. As a result, real estate entrepreneurs are urged to manage risks effectively to prepare for these unpredictable developments.
The second quarter has seen a general slowing down of the real estate market, with the condominium sector, particularly high-rise buildings, being affected. Despite this, there is optimism that the market will gradually rebalance over time. Ms. Kesara emphasized the importance of being prepared for changes and adapting to evolving circumstances.
In response to these challenges, Sena has introduced a new membership rental model called ‘RentNex’, targeting the ‘Generation Rent’ demographic that prioritizes flexibility and prefers renting over long-term commitments. RentNex offers a membership that allows consumers to reside in a condo for as low as 6,700 baht per month. This initiative caters to the new generation’s lifestyle, which values cost management and avoids long-term financial obligations.