PROPERTY SECTOR HOTS UP

Thailand's property sector became more competitive this week when Sydney Stock Exchange listed iProperty paid approx. THB 71 million for Prakard.com, widely regarded as the number two property website in Thailand.
Earlier this year iProperty purchased fourth-ranked ThinkofLiving.com for substantially more.
Both websites are 99 percent Thai with the former being more of a forum-based operation with a claim of more than 190,000 registered users.
DDproperty.com - part of the Singapore-based PropertyGuru Group, and my former employer prior to June this year - is number one in the Kingdom in terms of market share, despite iProperty's claims of having a "clear market leadership position" in Thailand.



My experience in the industry has shown me that iProperty will come into a market, splash lots of marketing cash, offer what other sites do currently, but offer it for free as opposed to charging like the existing players do. In every market they've done this it has not worked. Malaysia is iProperty's number one market and that, along with Indonesia, is where they are likely to devote most of their attention - at least in the short- and medium-terms.

Disclosure; I an Grou Editor for Dot Property Group which operates Thailand's largest English language property website (www.thailad-property.com) and Thailand's fastest-growing property website (www.dotproperty.co.th).