การศึกษาความเป็นไปได้ในการลงทุนโครงการบ้านจัดสรรขนาดเล็ก (พิเศษ) ตำบลหนองนาคำ อำเภอเมืองอุดรธานี

Abstract

This study aimed to A Feasibility Study on Investment in Small Housing Project in Nongnakham Sub-district , Mueang District , Udon Thani Province. The study was concluded by 5 aspects, namely: macro-environment, marketing, management, technique, and finance. Convenience Sampling was employed, and questionnaires were distributed to 246 samples. Moreover, an in-depth interview method was conducted by people who own their housing business in the area of Nong Na Kham, Mueng, Udon Thani province. Frequency, percentage, mean, and standard deviation (SD) were used for data analysis. Secondary data was also reviewed from papers, documents, journals and other online information related to case studies from both the public and private sectors, which their studies were under the project assumptions were no more than 2 years The result of the macro-environment study revealed that the external factors effecting on business were policy and politics aspects that the government launched a million houses project is beneficial for economic environment. Since the covid-19 pandemic causing the reduce of house purchase demanding, some laws, regulations and special small land development Act were announced. Consequently, it helped to reduce the cost of investment. Apart from that, the business competition in the area was scarcely severe. Around the area, most of the small housing estates avoided the allotment village registration laws, and most of the customers in the area are full-time jobs with a low-paid, so they are likely demanded by the local customers. The result of the marketing study revealed that the target groups were those who were around 21-30 years old because they were in the age that want to settle down, and didn’t get a high income, so the small housing projects were suitable for them. Therefore, the project has designed a Modern minimalist style house which comes with 3 bedrooms and 2 bathrooms that starting price are 1.75 to 1.95 million baht. In order to create satisfaction and reach the main target group of the project as much as possible, the project can be visited via online and in-person. The result of the technical study revealed that the project is located along the Chai Pattana road, Nong Na Kham, Mueng, Udon Thani province which is so convenient to travel to any destinations, and closes to convenient stores, markets and so on. It is covered the area of 3 rai and 200 square wa, which was separated into 19 plots. The project was carried out 5 months prior to the sale period. This totally costed 1,081,320.00 baht, paid 247,300 baht for the investment on permanent assets at the initial stage. The result of the management revealed that the special small housing project had a company registration in the form of a juristic person in order to prepare for the future business expansion. The investment included 78% from shareholder and other 22% from loan. Because of the inefficient expertise on construction, the project decided to hire an expert outsource that was reliable to run efficiently. The result of the finance revealed that the total cost at the initial stage of the project was 9,078,074 baht, which was 11.259% of the weighted average cost of capital: WACC. The payback period of the project was 1 year 1 month, and 17 days. Its net present value: NPV was 3,764,490.31 baht, and Internal rate of return was 48.65 per cent. As far as the project movement was concerned, it can be divided into 2 cases. One was the best-case scenario that would have an increase and lower cost of 10 per cent with a 11 months and 14 days payback period, 8,298,037.04 baht of its NPV, and 98.20 per cent of Internal rate of return. However, as considering the worst-case scenario, the project would face its sale decreasing and cost increase around 10 per cent. The payback period would be 1 year 3 months and 20 days, -769,057.01 baht of NPV, and 4.16 per cent of Internal rate of return. According to the result, it can be found that the investment on the project was possible.