Property Tech start-up #Baania aims to become driving force in real estate marketplace and date platform

Real Estate Press Releases Wednesday July 12, 2017 12:31
Bangkok--12 Jul--แอบโซลูทพีอาร์

• A new breed of start-up with a "digital heart", Baania provides a marketplace service with data platform. It is a source of comprehensive real-estate information in the form of total solutions that thoroughly understands new-generation customers and responds to those searching for a residence – whether to buy, sell, rent or even obtain property for rental. The company's solutions are designed to counter the "pain points" experienced when buying a house and assist homebuyers in purchasing residences that are worthwhile and the most favourable to their needs.

• Baania provides deep insights to homebuyers through an improved service system by merging digital technology with innovations in big data management, and is equipped with features that make it convenient for buyers to use, search and find answers when purchasing homes.

• The start-up originated from a market base in the provinces and subsequently expanded to the capital Bangkok. It aims to penetrate every region of the country over the next one to two years. The company, which has received investment funding from 500 TukTuks and Rain Tree Dot Com Co., Ltd. to expand its business, intends to penetrate the Asean Economic Community (AEC) market within two years. It aspires to become an important force in the ecosystem driving Thailand's real estate sector.

Anchana Vallipakorn, co-founder and Managing Director of Baania (Thailand) Co, Ltd., notes that the company has more than 13 years of experience in real-estate media through producing the Home Buyers' Guide Chiang Mai and organising property trade shows in the Northern capital. The company has witnessed the changes in the media direction of communication between entrepreneurs and consumers and the accessibility to customers in every market channel, especially the ever- growing role of online communication.

However, no company has developed the perfect online communication platform. The company notes that real estate is a huge business sector and important to the country's economy. It is also one of life's basic necessities and thus essential to consumers but most have little experience in the property sector and housing prices are high. For this reason, the company would like to help consumers own their dream homes.

The company has thus developed a website offering homebuyers comprehensive information especially Big Data – which is unprecedented in Thailand – and has expanded into digital solutions spread over many formats to reach customers.

"Today, Baania has become an important piece of the jigsaw in the real-estate industry ecosystem and is Thailand's first property tech start-up providing a data platform as well as a marketplace for the real-estate sector catering to the new breed of customers. The company provides comprehensive, in-depth information to people who want to buy, sell or rent houses. Our start-up intends to address the 'pain points' for homebuyers by giving them information for comparison before they make any decision. The company also gathers consumer insights to develop and improve products and services to best meet their needs," Anchana says.

Baania started the service in 2016 in the north – Chiang Mai, Chiang Rai and Lamphun – and then spread to Nakhon Ratchasima. In 2017, the company included Bangkok and its suburbs, in addition to Khon Kaen, Chon Buri, Bang Saen, Pattaya and Rayong. The company will expand to the southern region – Phuket, Songkhla and Surat Thani – by 2018. It currently provides real estate information through the website (Web 3.0) and also operates the Baania app for devices that use iOS or Android operating systems.

"The company has received funding from 500 TukTuks and Rain Tree Dot Com Co., Ltd., both of which recognised our start-up's potential and see robust growth. The company plans to expand its business to cover provinces across Thailand and map out a long-term plan to penetrate the AEC market in two years,'' Anchana adds.

"Data is very important in this day and age," explains Baania co-founder and Managing Partner Weerawat Ratanawaraha said. "Many businesses face digital disruption. If we do not change, we will lag behind and not survive. Our service has been developed by studying the insights, habits and needs of homebuyers by using digital technology and big data management innovations, which is trusted information from experts. Baania has features that are easy to use and offers valuable information to help homebuyers make their decisions via the four following services:

1. Providing comprehensive information for decision making ranging from basic facts on housing project details to comprehensive coverage of designs, projects' names, maps and photos. The information is available in written format, video and photos from the actual site.

2. Interactive Web (Web 3.0) can respond to consumers' demands individually. The system will show various types of results in accordance with users' objectives.

3. Specialist reviews on the three aspects involved in making a decision for investment – the project's location, amenities nearby, and development trends. The app also provides insights into the functionality of houses in each project and the quality of materials used. A section that must be viewed is the trend in investment returns.

4. 'Baania Living Score' is a unique feature designed to help house buyers search for their desired homes and provides scores to show how valuable or suitable the place is – such as how convenient it is to drive to ('Driving Score'), whether important places are within walking distance ('Walking Score'), and if any mass transit station – BTS, MRT, etc – is close by ('Transit Score').

"Meanwhile, 'Baania History and Trend' analyses big data on housing projects over the previous five years. This involves such data as current pricing and future price trends. 'Baania Comparison' compares information on housing projects to the search behaviour of customers," Weerawat says.

"Baania has allies that provide trusted information, such as on location, from agencies and experts endorsed by institutions. The company has teamed up with Chulalongkorn University's Urban Design and Development Centre, which has experts in designs and materials, most of them academics from Chulalongkorn University's Faculty of Architecture, Khon Kaen University, Suranaree University of Technology and Rangsit University, as well as experts in investment worthiness in association with experienced investors and professional appraisers who furnish useful and candid information to home buyers," he says.

"With passion and more than a decade of experience in the real estate arena, Baania today has completely transformed itself for the digital age. It is a good opportunity to deliver useful service and information to customers, with modern technology that can be developed using comprehensive and insightful information. We are confident that Baania is the best solution for people who aim to buy, sell or rent houses. Baania has an integral role to play in not only driving the real estate industry but also very much as part of the ecosystem of Thailand's property tech, both of which fuel the country's overall economy,'' Anchana concludes.

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