{"id":24208,"date":"2021-06-29T11:31:26","date_gmt":"2021-06-29T04:31:26","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=24208"},"modified":"2021-07-06T10:46:00","modified_gmt":"2021-07-06T03:46:00","slug":"thai-property-developers-use-technology-to-boost-the-market","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/thai-property-developers-use-technology-to-boost-the-market\/","title":{"rendered":"Thai property developers use technology to boost the market"},"content":{"rendered":"

Online sales\u00a0are expected to normalise\u00a0in the post-pandemic period,\u00a0and cryptocurrency\u00a0will be used to target\u00a0younger\u00a0homebuyers\u00a0<\/span><\/p>\n

\"\"
Many developers have sped up the use of online sales channels, which is expected to become a normal tool in the post-pandemic\u00a0period. Source: LukaszStefanski\/Shutterstock<\/figcaption><\/figure>\n

In Thailand, property developers are using digital tools to prop up residential sales from local and foreign demand amid the market slowdown, as well as attracting new generation\u00a0buyers through\u00a0cryptocurrency, reported Bangkok Post<\/a>.\u00a0<\/span>\u00a0<\/span><\/p>\n

Kromchet\u00a0Vipanpong, chief executive of SET-listed developer AssetWise (ASW), said the company partnered with Thai cryptocurrency firm,\u00a0Bitkub\u00a0Capital Group Holdings, to introduce a digital currency exchange\u00a0service\u00a0for home purchases.\u00a0<\/span>\u00a0<\/span><\/p>\n

“We want to have a variety of money transfer channels in addition to cash, bank transfers and credit cards,” he said. “Our customers can use cryptocurrencies for payments and the fee is lower than credit cards at only 0.25 percent compared with two to three percent.”<\/span>\u00a0<\/span><\/p>\n

Vipanpong\u00a0added that the partnership with\u00a0Bitkub\u00a0will aid in tapping into the younger\u00a0generation\u00a0market that is familiar with digital money.\u00a0<\/span>\u00a0<\/span><\/p>\n

Sansiri\u00a0Plc plans to allow customers to pay for home purchases and common area fees with four digital currencies available through\u00a0Bitazza, a local digital asset broker.<\/span>\u00a0<\/span><\/p>\n

Srettha\u00a0Thavisin,\u00a0Sansiri\u00a0president, said, \u201cForeign buyers are not currently allowed to buy Thai property with cryptocurrency. If this changes, we can tap the foreign market\u00a0immediately\u00a0as our sales to this\u00a0segment\u00a0rank as the largest.\u201d\u00a0<\/span>\u00a0<\/span><\/p>\n

Since April last year, many developers have sped up the use of online sales channels, which is expected to become a normal tool in the post-pandemic\u00a0period, according to SET-listed\u00a0Sena\u00a0Development Plc.\u00a0<\/span>\u00a0<\/span><\/p>\n

More: Phuket reopens tourism with a \u2018welcome back home\u2019 message<\/strong><\/a><\/p>\n

“Customer\u00a0behaviour\u00a0has changed,” said\u00a0Athika\u00a0Boonrodchoo, vice-president\u00a0of\u00a0Sena\u2019s\u00a0capital\u00a0allocation\u00a0and investment department. “People now make one or two visits before deciding — compared with three to four times in the past — as they study projects and units through online channels.”<\/span>\u00a0<\/span><\/p>\n

Piya\u00a0Prayong, chief executive of residential developer\u00a0Pruksa\u00a0Real Estate Plc, said online sales channels have helped support offline sales. Sales from online\u00a0channels\u00a0have increased by 70-80 percent.\u00a0<\/span>\u00a0<\/span><\/p>\n

Pruksa Real Estate Plc won the Best Mid End Condo Development award and was highly commended for the Best Mid End Condo Interior Design award at the 14th PropertyGuru Thailand Property Awards 2019.<\/p>\n

“More customers are using search engines to view and study our projects. This medium rose by 20 percent after the third wave of Covid-19 in April this year,” he said. “We need to design our products and provide information via online channels to attract more customers.”<\/span>\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Online sales\u00a0are expected to become\u00a0normalised\u00a0in the post-pandemic period,\u00a0and cryptocurrency\u00a0is increasingly used to target\u00a0younger\u00a0homebuyers\u00a0<\/p>\n","protected":false},"author":12,"featured_media":24209,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[519,2014,2015,133],"class_list":["post-24208","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-cryptocurrency","tag-digital-tools","tag-online-sales","tag-thailand","news_country-thailand","news_author-property-report"],"acf":[],"yoast_head":"\nThai property developers use technology to boost the market | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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