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Thailand's real estate market overview and its major issues: from home-buyer’s and property agent’s perspective. Thailand’s online real estate landscape: major players and how they compare to their counterparts in mature online real estate markets. Hipflat – a real estate portal, aiming to boost effectiveness and transparency of Thai and Southeast Asian property industry.
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About me
Certified Residential Specialist
International Realtor
Computer Programmer
20062010
2012now
Real estate agency
Hipflat
Easy map-based search
Market data
Bangkok condo search trends
Bangkok condo search trends
33%
LOOKING
TO RENT
17%17%
14%
9%
9%
34%
0–10 K
77%
LOOKING
TO BUY
34%
14%
10%4%
37%
1% 0–1 Mb
0–1 MB
How big is Thai real estate market?
$27,000,000,000Annual property transactions volume*
* Statistics by Bank of Thailand
5%
Offline is still the king in Thailand
online ad spendings
Mature online real estate markets
Online is a dominant advertising channel for realestate industry
90% of homebuyers start their propertysearch online
$4.3 billion
$1.7 billion
Both countries: ~ 18 mil internet users
Australia vs Thailand
Top property portal: realestate.com.au
Top property portal: ddproperty.com
12.5 mil monthly visits* 1.2 mil monthly visits*
*Stats by SimilarWeb
Market cap > $5 Billion IPO planned in 2015,valuation ~ $150 mil
Mature online property market Emerging online property market
Thailand’s online real estate landscape
Vertical search websites:
thaihometown.com ddproperty.com prakard.com
Thailand’s online real estate landscape
General classifieds:
olx.co.th kaidee.com pantipmarket.com
Thailand’s online real estate landscape
Other sites:
thinkofliving.com banidea.com forfur.com
The problems with Thai real estate market
1. Huge market fragmentation
2. Zero transparency
Property search in the US
Property search in Thailand
How market fragmentation affects consumers
• Property search takes a lot of efforts
• Homebuyers do not “see” the whole market
• Cannot make fully informed decision
• Often end up overpaying
• Some developers use it in their own interests
• Low liquidity
Is this a fair price? I have no idea.
Past sales data available in mature markets
How market fragmentation affectsreal estate agents
• No access to all the listings available on the market
• Unable to serve customer needs
• Takes a lot of effort to collect own database
• Property valuation is hard
• Managing expired listings is a big headache
• Ineffective property viewing arrangement process
How Hipflat tries to solve the problem: automatic property listings syndication
Market data
