Thailand, with a population of 66.2 Mn in 2021 and being the 2nd Largest Economy in Southeast Asia region, Thailand Real Estate is experiencing a digital wave sweeping across its value chain, disrupting how buyers and sellers interact with one another. Consumers are not just bound to explore the buying/ renting options through digital platforms but are interested in other residential services as well. Before the pandemic began, buying or renting a home was virtually unimaginable; it acted as a catalyst for people to explore ways to expand digital business platforms Overall, there is an increased interest in using online platforms to buy/rent a home. Additionally, the current pandemic has presented consumers as well as developers with a unique opportunity to put their trust in digital platforms.
Thailand is the emerging market
for Property Classified in ASEAN contributing $~ Mn revenue in 2021 and growing
at CAGR of ~ % during 2015-2021. Most full-stack Property Classified players in
Thailand have remained focused on the low rise residential property segment
considering the burgeoning housing shortage, rapid urbanization and urban
migration trends. A number of developers are offering extended payment terms,
lighter down payment schemes, and waived reservation fees with a limited time
offers, which financially prepared buyers should take advantage of. However,
the industry is highly vulnerable to fraud due to its complex nature, reliance
on technology, and interaction between stakeholders and third parties.
Thailand
Property Classified Market Segmentation
By Business
Model: Revenue Via Listings and
Classifieds Model contributed more than ~%, generating $~Mn, while that of
Aggregators and Co-Living generating $~ Mn in 2021
By Market
Players for Listings and Classifieds: The Thailand
Listing and classified market is dominated by Property Hub contributing ~%
revenue share.
By Market
Players for Co-Living and Aggregators: The Thailand
co-living and aggregators market is dominated by Property scout contributing ~%
revenue share.
By Type of
Region: Properties are benefitting from
the confluence of demand from various buyer groups, including foreigners
looking for a good buy, Thailand investors, owner-occupiers who want to live
closer to the city, as well as a sizeable pool of budget-conscious tenants who
might be priced out of the prime rental market in the city centre.
Thailand
Property Classified Market Competition
The market is moderately
fragmented for listings and classifieds companies with major players
including Property Hub, TerraBkk, FazWaz, Baania, ZmyHome, DD Property, etc.
The market is highly concentrated market for aggregators & co-living
companies with top players namely Scout, Phuket Rent House and RentHub holding
more than 70% market share in terms of revenue. Players are competing based on
Commission Charged, Number of Listings, Locations Covered, Detailed
Comparisons, User Interface & Technology and Value Added Services. Factors
such as expensive rentals, fixed one- to two-year tenancy contracts and the
hassle of dealing with intermediaries have driven the growth of co-living
concepts in Thailand.
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Thailand
Property Classified Market Future Outlook and Projections
Thailand Property Classified
Market is expected to grow at a massive rate of 19.0% CAGR during 2020-2025
providing a lucrative opportunity for Property Classified investors. Technology
has been increasingly becoming an attractive asset for landlords, potential
real estate investors and tenants looking for an efficient and secure
opportunity in the Commercial Real Estate segment (CRE). This presents a
lucrative opportunity for Property Classified investors to witness high returns
on their investment. The real estate digital classifieds space is still in the early
stages of growth and the listings are dominated by builders and brokers.
Further, with newer technology based services such as 360 degree view,
listing convenience, subscription management etc., and the focus is likely to
be on educating individual users. Therefore, the advertisements are more likely
to be focused on the individuals on both the buying and selling side, which
could help reduce the resistance of online real estate tractions by individual
users.
KEY FACTORS
CONSIDERED IN THE REPORT
- Overview of Thailand Property Classified
Market
- Thailand
Property Classified Market Future Outlook
- Ecosystem of Major Entities in Thailand
Property Classified Market
- Business Cycle and Genesis of Thailand
Property Classified Market
- Thailand Property Classified Market Size, 2015-2021
- Thailand Property Classified Market
Segmentations
- Competition Analysis : Market Share of Major
Listings and Classifieds and Major Aggregators & Co-Living Companies
- SWOT Analysis in Thailand Property Classified
Market
- Revenue Models in Thailand Property Classified
Market
- Growth Drivers and Restraints in Thailand
Property Classified Market
- Technological Advancements in Thailand
Property Classified Market
- Impact of COVID19 in Thailand Property
Classified Market
- Key Trends in Thailand Property Classified Market
- Outlook and Future Projections for Thailand
Property Classified Market
- Future Market Segmentation by Business Model
and Revenue Sources
- Recommendations / Success Factors
- Research Methodology
- Appendix
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