Thailand Property Classifieds Market Size 2022 By COVID-19 Impact on Industry Share, Growth, Business Challenges, Demand and Forecast Research Report
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.
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.
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