Nattapong Lertwuthirak, co-founder of TongThai Group Co., Ltd., revealed the overview of Thai property market, which still enjoys continued growth. Thanks to several positive factors, Thailand has become China's main target for market expansion and the center of Southeast Asian countries. Therefore, a large group of Chinese investors buy up condominiums, causing the property-holding quota of 49% to reach the limit. Many Chinese, Hong Kong people, and Taiwanese would like to purchase property and land in Thailand. However, Thai law allows only foreign juristic person, not individual, to buy or own land. To avoid this complication, most Chinese investors purchase condominiums because of attractive price. Down payment is also much smaller than China, which requires 50-60% down payment. Furthermore, they can purchase property in Thailand on freehold. Currently, the prime locations eyed by most investors, especially Chinese, include Ratchada, Rama 9, Sukhumvit, Silom, and Sathorn. The price per unit Chinese people are willing to pay is five million baht on average. Interestingly, Chinese market responds well to rising condominium price and hi-end condominiums become more popular in the market.
Tiensak Thamcharonkij, co-founder of TongThai Group Co., Ltd., said, "TS-Fang website (www.ts-fang.com), the first Chinese-language property website in Thailand, aims to serve as a dictionary and center for real estate investors, both Chinese expats in Thailand and Chinese who work in their home country. It will also be a database providing information on Thai property in big cities such as Bangkok, Pattaya, Hua Hin, Chiang Mai, and Phuket, which are in high demand. The company's business strategy focuses on O2O (Online to Offline) platform, which combines online and offline business. This is also one of Chinese government's strategic policies that rapidly and perfectly responds to the behavior of Chinese consumers."
The target groups are categorized into agencies and property owners while the users are divided into Chinese expats who work and live in Thailand and Chinese investors residing in their country. The website aims to attract at least 30,000 users a month. All target groups will be in tier one, namely Beijing, Shanghai, Guangzhou, Hong Kong, Singapore, and Malaysia.
"TS Fang website (www.ts-fang.com) provides a full scale of information on property, houses, new condominiums, and second-hand houses. In the near future, the users will be able to search for condominiums on lease. The website therefore needs continued improvement to become the comprehensive real estate dictionary for Chinese or Thai people who can speak Chinese. From 2016 to 2018, the company spent 30 million baht or 10 million baht a year on system development because it believed that a good dictionary must provide comprehensive information that truly serves the needs of investors," concluded Mr. Tiensak