Another Bangkok property market indicator?

property market
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Indicators of the strength of Thailand’s property market have been in the news this week.

Earlier this week the Governor of the Bank of Thailand revealed that electricity consumption was being used as one way to detect how the property market is performing.

We have another suggestion.

In recent weeks we have noticed a substantial increase in the levels of mass-market property advertising throughout Bangkok.

The number of property-focused billboards, which we believe most property developers believe are a must-have in their marketing toolkit, seems to have more than doubled.

The number of newspaper cover wraps, which are both costly and arguably largely ineffective as a sales tool, have also increased. We have seen five within the last week alone.

Developers have also taken to mass-transit, with one having its latest launch (pictured) emblazoned on the side of a Bangkok skytrain, and another using the digital signboards adjacent to entrance doors – also to promote an upcoming launch.

We’ve also noticed far more social media marketing by both developers and real estate agents.

Exhibitions, too, are becoming more common and better-attended by developers.

So why do we think that levels of advertising could be an indicator of the strength of the Bangkok property market?

During the past few years, and at a time when many developers and agencies didn’t need to heavily advertise their developments, there were far fewer prominent adverts.

Now, arguably at a time when there are fewer buyers and certainly fewer renters prominent and, in some cases, expensive advertising is becoming more obvious.

Perhaps our focus on property makes us focus more on property advertising, but one way to know will be to monitor the cost of sales figures for Stock Exchange of Thailand-listed companies later in the year.

We suspect most will be higher than last year.

Andrew Batt
The author of this article is Andrew Batt, the founder and editor of www.thailandproperty.news. Andrew has been writing about property and real estate issues in Thailand and Southeast Asia for more than 10 years. He has worked for PropertyGuru Group, DDproperty, Dot Property Group, Hipflat and AsiaRents. He has also produced content for leading Thailand property developers and real estate agencies.
Email: andrew.thailandpropertynews@gmail.com.

2 Comments

  1. Orrin, thanks for your comment.

    I agree with you that marketing is now seen more as an investment than a cost by more Thai developers and agencies than even two or three years ago. The fact is, as you say, that data in Thailand isn’t great so anything that provides even a slight indication of the strength of the market has to be considered.

    I’m pleased you have good numbers. With the last two weeks I’ve had conversations with agents and developers and it does seem there are fewer buyers in the market overall. The most active sectors, according to what I’ve been told, are the lower-priced segments and in suburban areas.

    Thank you again for taking the time to comment; it’s much appreciated.

  2. Indication or speculation? I have worked with several Thai developers in the past 20 years as well as UK developers and the difference is the Thai developers are now understand marketing. I remember 5 years back and no one from their marketing understood how to promote the features we were installing. When we present to Thai developers now the marketing teams understand the facilities at the same level as in the UK.

    My numbers show their aren’t fewer buyers and as a respected journalist you musn’t jump to these unsupported conclusions. We need actual fact-based journalism that represents the market. I agree with you that data in Thailand isn’t great and more discussion is needed.

    This is just my two pennies’ worth. Perhaps I’m just a bit better about the England match still 🙁

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