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.