Thailand Property Classifieds Market Outlook to 2026F: Ken Research
INVC NEWS
New Delhi ,
The report titled “Thailand Property Classifieds Market Outlook to 2026F– Driven by Interest from Foreign Buyers along with Exponential growth of smartphone penetration” provides a comprehensive analysis of the potential of Property Classified industry in Thailand. The report covers various aspects including the current real estate scenario and rental rates in Thailand, revenue generated from Thailand Property Classified market, its segmentations viz Business Model(Listings and Classifieds and Aggregators and Co-Living) and By Region (Bangkok, Pattaya, Phuket), revenue models, major trends and development, issues and challenges, technological advancements and competition analysis. The report concludes with market projections for future of the industry including forecasted industry size by revenue along with analyst recommendations and key market opportunities. The report concludes with market projections for future of the industry including forecasted industry size by revenue along with analyst recommendations and key market opportunities.
Overview of Thailand Property Classified Market
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. 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 growing at CAGR of 21.7% 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 generated highest revenue due to increased user base. A growing millennial workforce, fast evolving consumer trends and untapped demand potential in the market are real draw cards for start-ups and developers looking to enter the Aggregators and Co-Living market.
By RegCityion: The Bangkok City dominates the Thailand market due to an anemic demand for residential projects, growing urban population, tourism and increasing investment from foreign buyers.
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 Rent Hub holding more than 70% market share in terms of revenue. Players are competing on the basis of 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.
Thailand Property Classified Market Future Outlook and Projections
Thailand Property Classified Market is expected to grow at a massive rate of 21.0% CAGR during 2021-2026F 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.
