Tiensak Thamcharonkij, left, CFO at TongThai Group and Nattapong Lertwuthirak, CEO of TongThai Group.
Tiensak Thamcharonkij, left, CFO at TongThai Group and Nattapong Lertwuthirak, CEO of TongThai Group.

Chinese-language platform claims a first in serving Chinese property buyers

Corporate August 09, 2018 01:00


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TS-FANG has produced a Chinese-language website aimed at Chinese wanting to buy property in Thailand.

The company expects the trading platform will have handled more than 100 property transactions by the end of the year.

Nattapong Lertwuthirak, chief executive of TongThai Group, said that the company spent two years of development on the project at an investment of around Bt30 million.

Nattapong said ts-fang.com is an online-to-offline (O2O) platform and the first full-service Chinese-language property trading website in the country. It provides property information related houses, new condominiums and second-hand houses, with more 1,000 properties listed.

It also provides consulting services for Chinese who want to buy property in Bangkok. The firm will expand its services to cover others areas, such as Pattaya, Hua Hin, Chiang Mai and Phuket provinces, in the near future.

 “We provide property information and property categories to support Chinese people who want to buy property outside their country for the purposes of investment or to live in Thailand,” said Nattapong. “The average property price for them is Bt5 million. Normally, Chinese people will have a budget to buy property outside their country of around Bt15 million. Our services are an alternative choice to support those who want to buy property in Thailand.”

Tiensak Thamcharonkij, chief financial officer of TongThai Group, said the top five areas for Chinese buyers are Ratchada, Rama 9, Sukhumvit, Silom and Sathorn. 

“The price that Chinese people are willing to pay is Bt5 million on average,” Tiensak said. “Chinese people also responding well to rising condominium prices and high-end condominiums are becoming more popular in the market.”

 The website also aims to attract more than 30,000 users a month, with the main target customers coming from Beijing, Shanghai, Guangzhou, Hong Kong, Singapore and Malaysia. 

The website provides real estate directory and consulting services, focusing on around 10,000 Chinese expatriates in Thailand and Chinese investors still living in their country. These include retirees, businessmen and the more than 30,000 Chinese students in Thailand.

“I think that the property market in Thailand is continuing to grow and Chinese people want to come to Thailand and stay here as their second home to support their lifestyle, and this contributes to the growth of the property market in the country," said Tiensak.