Spike seen in online Thailand property searches

[Jonathan Fairfield]

Spike seen in online property searches

BANGKOK:-- THE REAL-ESTATE portal DD property says there was a 29-per-cent rise year on year in online property searches in the first three quarters, while 42 per cent of the searches were for properties worth below Bt3 million.

The positive signs have followed a series of government stimulus packages, with the sector forecast to grow by 5-10 per cent this year.

Of the total number of people searching for properties via DDproperty.com, 49 per cent focused on detached houses, 29 per cent on condominiums and 25 per cent on townhouses. The most viewed property prices were between Bt1 million and Bt3 million.

Properties priced under Bt1 million accounted for 27 per cent of searches.

Active property listings listed on DDproperty.com increased by 21 per cent from last year and the property type that most people favoured was condominiums at 49 per cent.

DDproperty.com said the sales volume early this year showed consumer purchasing power was strong despite the property market suffering sluggish conditions.

"Living and Investment"

It said the DDproperty.com "Living and Investment" show last month garnered striking interest from first-time buyers and those upgrading properties, especially for condominiums located along mass-transit lines - even those with a small extension like the Green Line from Bearing to Samut Prakan.

DDproperty.com said more than 1,000 property seekers attended the event, potentially generating more than Bt3.8 billion in revenue for developers.

Napong Pantong, head of marketing for the All Property Media Company and a DDproperty.com administrator, said DDproperty.com acted as a strategic partner with listed developers, coordinated property exhibitions and showcased the market to overseas investors.

Last weekend DDproperty.com staged the "Emerging Markets Property Show".

The event featured more than 20 condominium projects from countries such as Vietnam, Cambodia, the Philippines and Thailand and attracted more than 500 attendees. DDproperty.com said the show generated sales of more than Bt100 million for Thailand.

Source:
http://www.nationmultimedia.com/business/Spike-seen-in-online-property-searches-30271056.html

-- The Nation 2015-10-17

[ezzra]

A search doesn't translate to a deal as much as a window shopper translate to buyers actually

stepping in to shop to buy, most of the searches are probably done by bargain hunters looking

for desperate people wanting to fire sale, other than that, there is no buyers confident in the

market as the economy is in a doldrums right now as the government stopped all freebees,

handouts and pledging schemes to farmers and grass roots Thais, and thus making people

afraid of making a big commitment like buying a property...

[chiang mai]

With bank interest rates at sustained low levels, folks are looking for an alternate home for their cash and 3 mill. baht is not a large amount by international measures.

[ronaldo0]

Between this and the transfer tax getting lowered it sounds like P.R garbage to try and get a static flooded market moving !!

[Seizetheday]

Maybe the Russians are coming back

[KittenKong]

Properties priced under Bt1 million accounted for 27 per cent of searches.

Just out of interest, how many people have seen a property here priced at under 1MB that they would actually be prepared to live in for more than a few days or weeks?

I haven't. In fact I've only seen a handful under 3MB that I would consider buying. I've also seen plenty of brand new condos at 6MB that I would not like at all due to the tiny room sizes and ugly modern decor. Nice views though.

[Seizetheday]

Properties priced under Bt1 million accounted for 27 per cent of searches.

Just out of interest, how many people have seen a property here priced at under 1MB that they would actually be prepared to live in for more than a few days or weeks?

I haven't. In fact I've only seen a handful under 3MB that I would consider buying. I've also seen plenty of brand new condos at 6MB that I would not like at all due to the tiny room sizes and ugly modern decor. Nice views though.

I had the impression that half the Thai Visa posters were living in 42 Sqm condos.

[KittenKong]

I had the impression that half the Thai Visa posters were living in 42 Sqm condos.

Nah. Some of us go the extra 20sqm.

[Ulic]

Tire kickers.

[Suradit69]

A search doesn't translate to a deal as much as a window shopper translate to buyers actually

stepping in to shop to buy, most of the searches are probably done by bargain hunters looking

for desperate people wanting to fire sale, other than that, there is no buyers confident in the

market as the economy is in a doldrums right now as the government stopped all freebees,

handouts and pledging schemes to farmers and grass roots Thais, and thus making people

afraid of making a big commitment like buying a property...

"there is no buyers confident in the market as the economy is in a doldrums right now"

Thai domestic consumer confidence is definitely low, but the number of foreigners who are facing planned or forced retirement is rising year by year.

Those who have reached that point and have come face-to-face with the reality that their retirement resources are pretty meager for spending the "golden years" in their home countries will increasingly be looking to places like Thailand in the hopes of finding a place to park themselves.

Thailand isn't the bargain it once was, but life in farangland is increasingly expensive as well despite various governments' claims that inflation is at an all-time low. The fact that most views are for sub 3 million baht also supports the view that it's people looking for a cheap alternative to life in their own countries.

Of course internet searches don't equate to purchases, but an increase in searches year-to-year could translate to an increase in eventual purchases year-to-year.

Unfortunately those searching for the mythical retirement paradise on a shoestring budget will also lead to an increase to the number of disillusioned expats who have overblown expectations while sitting in their bedsits back in farangland with visions of palm trees and beaches in their minds.

[trogers]

A search doesn't translate to a deal as much as a window shopper translate to buyers actually

stepping in to shop to buy, most of the searches are probably done by bargain hunters looking

for desperate people wanting to fire sale, other than that, there is no buyers confident in the

market as the economy is in a doldrums right now as the government stopped all freebees,

handouts and pledging schemes to farmers and grass roots Thais, and thus making people

afraid of making a big commitment like buying a property...

"there is no buyers confident in the market as the economy is in a doldrums right now"

Thai domestic consumer confidence is definitely low, but the number of foreigners who are facing planned or forced retirement is rising year by year.

Those who have reached that point and have come face-to-face with the reality that their retirement resources are pretty meager for spending the "golden years" in their home countries will increasingly be looking to places like Thailand in the hopes of finding a place to park themselves.

Thailand isn't the bargain it once was, but life in farangland is increasingly expensive as well despite various governments' claims that inflation is at an all-time low. The fact that most views are for sub 3 million baht also supports the view that it's people looking for a cheap alternative to life in their own countries.

Of course internet searches don't equate to purchases, but an increase in searches year-to-year could translate to an increase in eventual purchases year-to-year.

Unfortunately those searching for the mythical retirement paradise on a shoestring budget will also lead to an increase to the number of disillusioned expats who have overblown expectations while sitting in their bedsits back in farangland with visions of palm trees and beaches in their minds.

Looking at the demographics and public debt structures of Western economies, Thailand should leap ahead of AEC in marketing itself to retirees of the West. Reports are coming out that Western governments are dipping into retirement funds to cover shortfalls from tax collection from the working class.

How to make Thailand attractive to foreign retirees?

1. Change foreign ownership limit of condos to 75%. This would raise the standard of property management.

2. Have semi-government owned medical care services in major towns and cities.

3. Bring down money deposited in the bank to Bt500,000 as fixed deposits on an annual basis and requirements for a minimum cover for health insurance, to satisfy visa applications.

[Pib]

Real estate agents and companies always say now is the time to buy real estate, things are looking up, see a silver lining, etc.. They will pluck a reason out of the sky or just make one up to try to support their position. Since a sale in good or bad real estate times earns them a commission now is always a good time to buy real estate.

[Mencken]

Well, this sounds desperate...

Searches??

It's beginning to read like the gold/silver offers - as we look to find manipulation and high prices in those markets as well.

Every so often I'll download dd and search madly. Funny, I recall the same crappy, overpriced nonsense as six mos prior.

Then I delete the app and flip on Bloomberg convinced once yet again how dreadfully overpriced run down townhouses and shoebox condos are still.

Edited October 19, 2015 by Mencken

[jpb1963]

its OK everyone i know what caused it….

I have been looking for somewhere to live now for a few months while working offshore so may be i should call em up and let them know i found a place so won't be looking any more

[chiang mai]

Passenger loads into Swampy and tourist arrivals are at record highs, interest rates are at record lows for extended periods with no real end in sight - property prices in the west are at record levels (the UK is at least), nobody should be surprised that cheap property in Thailand has become a target for folks wanting to buy stuff.