Connect with us

Property

Statistics don’t lie, agents do

The Thaiger

Published

on

Statistics don’t lie, agents do | The Thaiger

Anyone currently involved in the Thailand property market will be happy to note that Thailand’s global ranking for transparency within its real estate market (Jones Lang LaSalle, 2014) has improved from 39th in 2012 to 34th in 2019.

What does this actually mean for the majority of us? Unfortunately, the answer is very little indeed!  

With almost no freely available, open market data within the Thailand property market, sellers and buyers are heavily reliant on real estate agents to provide honesty and guidance in assisting their real estate decisions.

Which prompts this question – do the readers believe that Thailand real estate agents are honest, patient, assertive, passionate, creative and tenacious?

I think belief outweighs truth and fantasy doesn’t equal reality. 

We all know someone who has been burnt by bad property advice or been promised rental returns or capital growth that was never achieved. Do real estate agents use complex pricing models to value your property accurately and fairly, or do they take some pie in the sky figure dreamt up to buy your confidence.

Brennan Campbell, CEO of FazWaz, explains that market inefficacies have been more than amplified within the property sales business.

“Property owners, agents and prospective buyers alike are creating price evaluations based on subjective materials and not market facts. This leads to large discrepancies in pricing across different areas of the island, and even within the same development”. 

What is really the most expensive area to buy? What premium do we have to pay for beach side properties? What is the average off plan to completion ratio for specific condominiums? What really is your property worth? Is it better to rent my property as a long term rental or as a vacation rental? What type of in demand units is the market lacking supply for vacation rentals?

There are thousands of questions that the market cannot easily answer at the moment, because the infrastructure, data and technology is not readily available.

Imagine if we could empower consumers in the Thailand property market with the resources they need to make better informed property decisions. Envisage helping consumers both search for their next property and research the market by utilising market data, local information and community tools.

Imagine providing buyers, sellers, developers and realtors alike the ability to back up wild claims with undisputed market statistics. 

Will these developments be positive news for everyone?

I think the majority of people would agree that transparency is the only way to move this market forward and increase consumer wide confidence. I think the opposition would predominately come from property owners who will be surprised to find their true market value might be significantly less than they have been led to believe. 

FazWaz has invested over two million dollars with the belief that this is all achievable. By using real time dynamic proprietary pricing algorithms, FazWaz uses a series of public and private data coupled with expert location and property based weighting to interpolate accurate valuation models.

In layman’s terms, we use loads of information from everywhere to give our customers an accurate market value. This is just a small part of analytics tool suite offering, and FazWaz has loads of great functionality that will be making available within this upcoming release. 

By disrupting the Thailand property market through transparency and efficiency, we hope to set a new standard for transacting on property within Thailand. FazWaz hopes to bring this exciting functionality to the market by the 3rd quarter of 2019.



Find more property for sale and rent across Thailand at Thaiger Property, powered by FazWaz. You can even list your property for free.

If you have story ideas, a restaurant to review, an event to cover or an issue to discuss, contact The Thaiger editorial staff.

Phang Nga

Hong Kong property tzars team up for new Phang Nga development “Aquella”

Bill Barnett

Published

on

Hong Kong property tzars team up for new Phang Nga development “Aquella” | The Thaiger

FILE PHOTO

Two of Hong Kong’s leading entrepreneurs Allan Zeman and Richard Li are developing a mixed-use project in Thai Muang, Phang Nga named Aquella.

The initial phase of the development includes a par 72, 18 hole golf course, resort pool villa residences with two to four bedroom unit configurations back of a massive land site that offers over 2.5 kilometres of white sand beach.

Previously, the approximate 1,000 rai site was the home of the Thai Muang golf course. After acquisition the course was closed, and the master planned Pinetree project that was to contain a marina and luxury Park Hyatt hotel stopped when land zoning issues changed in Southern Phang Nga.

Today, the new golf course has been reconfigured and Zeman’s Paradise Group who developed Kamala’s posh Andara ultra villa resort in Phuket are collaborating with Li’s Pacific Century Premium Developments (PCPD) group.

South West Phang Nga hosted some of Asia’s most significant luxury villa sales in the mid 2000’s given it’s close access to Phuket International Airport, over the Sarasin Bridge.

Changes in the zoning regime stunted the area’s growth over the past decade but a new wave of interest has been born in projects such as Charn Issara’s Baba Beach Club.

Land prices in Koh Pilai and Koh Kloy have sharply escalated in recent months on the announcement of a second Greater Phuket airport by Thai aviation authority AoT.

That said, the area has a rich history in demonstrated luxury residential sales in projects such as Aleenta and Sava.

With Phuket bursting as the seams, and prime oceanfront plots limited, the recent transaction of the former greenfield site of the Ritz-Carlton Reserve has indicated positive sentiment.

Hong Kong property tzars team up for new Phang Nga development

Continue Reading

Property

Car and house loans surged in 2018

The Thaiger

Published

on

Car and house loans surged in 2018 | The Thaiger

The Bank of Thailand says they’re concerned about the double-digit growth in loans for cars last year. The central bank is now monitoring the trend and will keep track of statistics for the rest of 2019. Their concerns about the Thai mortgage market the year before resulted in new regulations coming into effect this April.

Loans for cars were up nearly 13% in 2019, up from 8% growth in 2017 and much smaller growths in the years before.

They reported that commercial bank auto loans rose to 1.07 trillion baht last year, a rise of 12.6% from the previous 12 months. Defaults on loans has also risen during 2018 but the BoT says the rate is still “manageable” at 1.66%.

The BoT says they will need to continually monitor the business of loans for cars for at least the rest of 2019.

Last year they put the spotlight on property mortgages. The study resulted in more stringent conditions for the loan-to-value ratio, especially for second or subsequent housing loans.

Mortgage lending expanded nearly 8% in 2018, compared to 5.5% in 2017. The more stringent requirements for housing mortgages comes into force on April 1 this year.

Generally, the loan sector for commercial banks rose by 6% last year, again a rise from the previous year where the rise was 4.4%.

But the BoT reports that the profitability of the banking sector remains in positive territory. Interest income is now the main source after the fee-based income of some banks, particularly fund transfer fees, declined.

Continue Reading

Phuket

Kamala’s Twinpalms Montazure poised to welcome guests in July

The Thaiger

Published

on

Kamala’s Twinpalms Montazure poised to welcome guests in July | The Thaiger

Set on the golden sands of Kamala Beach, Twinpalms MontAzure will welcome its first guests in July this year.

Already a member of Small Luxury Hotels of the World, the boutique beach hotel offers beautifully appointed Suites, Penthouses and Private Pool Suites.

Suites range in size from 70m2 to Penthouses with private pools and sea views boasting large living spaces of up to 300m2. Guests will also enjoy using a lap pool or an infinity pool offering views of the Andaman sea.

Twinpalms MontAzure will also launch its beachside restaurant and lounge, ‘Shimmer’, with uninterrupted sea views. Shimmer restaurant will serve vibrant and tasty food with an Asian focus, delicious and creative cocktails, and a great wine list, all served with the customary gusto and flair expected from the Twinpalms brand.

Olivier Gibaud, General Manager of Twinpalms Hotels & Resorts says, “With 15 years’ experience refining Twinpalms excellent service standard complemented by a luxurious dining and entertainment quality that sets itself apart from other destinations on the island, we are very excited to bring this knowledge to a new hotel”.

Designed by Martin Palleros, following the original Twinpalms concept and style, of utilising Phuket’s beautiful landscape, Martin has allowed the design to maximize the sea views from most of the Suites and areas within the buildings, whilst also ensuring the preservation of the views of the mountainside from other perspectives.

Resident Manager, Thipwimon Chatchavansilachai says, “For respect for our island location, we will launch with a ‘no single-use plastic’ policy, meaning alternatives to common plastic items such as straws, packages for bathroom amenities and water bottles will be replaced with materials such as bamboo, ceramic and recycled paper.”

“We will continuously find better alternatives in our hotel operations for the preservation of the environment”.

Naturally, guests of Twinpalms MontAzure also have access to the brand’s other dining destinations, taking full advantage of the three beaches Twinpalms has a presence: HQ Beach Lounge – a few steps away on Kamala Beach, Catch Beach Club, Catch Junior and Palm Seaside, located on Bang Tao Beach and the flagship resort, Twinpalms Phuket, is just a few steps from Surin Beach.

Kamala's Twinpalms Montazure poised to welcome guests in July | News by The Thaiger

Continue Reading

The Thaiger Newsletter

Keep up with all the day’s news. Subscribe here.

The latest news and information from Thailand.

* indicates required

Trending