PropertyGuru Group CEO Steve Melhuish said the investment over the next two years would be for upgrading the website’s data management, with a focus on marketing and promotional activities to give DDproperty.com more exposure to potential customers.

The group expects to break even within 18 months. It aims for DDproperty.com to have at least 1.5 million visits with over 10 million monthly page views by the end of the year, up from about 740,000 visits and 4.96 million page views in June with 95,000 property listings.

“Thailand has potential for growth due to the strong economy and the online explosion,” said Mr Melhuish. “The investment climate is expected to be positive after the election. The residential market is strong and commercial property is improving.”

He noted internet penetration reached 33% of the population last year.

The online advertising sector overall in Thailand has a value of more than 1.5 billion baht a year, with a growth rate topping 20% in the past year. The dynamic online property market is still young and has plenty of room to grow.

“We will put together a property database across countries. Singaporean investors can buy Thai property and vice versa,” said Mr Melhuish.

DDproperty.com was founded in late 2007 by Tanomsak Khacharoen and Siriporn Paewattanakul. Last year it generated 2-3 million baht in revenue from banner and display ads and listings.

PropertyGuru.com, found in 2006 by Mr Melhuish, has seven websites in eight countries including Singapore, Malaysia, Indonesia, Australia, Hong Kong, India and Macau, with 4 million users and 50 million monthly page views.

• Published in Bangkok Post: 22/07/2011 at 12:00 AM
• Newspaper section: Business

Quality condominiums on Sukhumvit, Ratchadamri and Sathorn roads near existing mass-transit routes will be valued at 100,000 baht per square metre on average, said Chucheep Jitumpai, director of the department’s Bureau of Property Valuation.

On other roads along BTS and MRT, quality condos would have valuation prices of around 70,000 baht per sq m.

According to the Real Estate Information Center, the Bangkok condominium price index rose 7.04% year-on-year in the first half, compared to 2.82% in the second half of last year. The townhouse price index increased 3.55% against a 0.98% rise in the second half of last year, and the single house index inched up 1.79% from 1.03%.

The home construction price index in the second quarter of 2011 rose 3.90% year-on-year and 0.90% quarter-on-quarter.

The bureau said the highest jump in appraisal prices, at 50% on average, would be in areas along the new Purple Line between Bang Sue and Bang Yai.

Mr Chucheep said land valuations rose in line with infrastructure development, particularly both new and extended mass transit-routes.

In Nonthaburi, the highest increase would be near The Mall Ngam Wong Wan, averaging 57% from 96,000 baht per square wah five years ago to 150,000 baht next year. It would be followed by locations on Krungthep-Nonthaburi Road, from 64,000 to 100,000 baht.

On Rattanathibet Road in locations between Nonthaburi Provincial Office and Central Town Department Store, new appraisal prices would rise from 80,000 to 120,000 baht and locations beyond Central Town would rise to 80,000 baht, up from 65,000 baht.

In the Kae Rai-Pak Kret area where the Pink Line will be built, prices would be 80,000 baht, up from 56,000 baht. On Ratchaphruek Road, they will increase to 65,000 from 50,000 baht.

“Land valuation prices nationwide in 2012 will see an average increase of 15%,” he said.

• Published In Bangkok Post: 13/07/2011 at 12:00 AM
• Newspaper section: Business

Quality condominiums on Sukhumvit, Ratchadamri and Sathorn roads near existing mass-transit routes will be valued at 100,000 baht per square metre on average, said Chucheep Jitumpai, director of the department’s Bureau of Property Valuation.

On other roads along BTS and MRT, quality condos would have valuation prices of around 70,000 baht per sq m.

According to the Real Estate Information Center, the Bangkok condominium price index rose 7.04% year-on-year in the first half, compared to 2.82% in the second half of last year. The townhouse price index increased 3.55% against a 0.98% rise in the second half of last year, and the single house index inched up 1.79% from 1.03%.

The home construction price index in the second quarter of 2011 rose 3.90% year-on-year and 0.90% quarter-on-quarter.

The bureau said the highest jump in appraisal prices, at 50% on average, would be in areas along the new Purple Line between Bang Sue and Bang Yai.

Mr Chucheep said land valuations rose in line with infrastructure development, particularly both new and extended mass transit-routes.

In Nonthaburi, the highest increase would be near The Mall Ngam Wong Wan, averaging 57% from 96,000 baht per square wah five years ago to 150,000 baht next year. It would be followed by locations on Krungthep-Nonthaburi Road, from 64,000 to 100,000 baht.

On Rattanathibet Road in locations between Nonthaburi Provincial Office and Central Town Department Store, new appraisal prices would rise from 80,000 to 120,000 baht and locations beyond Central Town would rise to 80,000 baht, up from 65,000 baht.

In the Kae Rai-Pak Kret area where the Pink Line will be built, prices would be 80,000 baht, up from 56,000 baht. On Ratchaphruek Road, they will increase to 65,000 from 50,000 baht.

“Land valuation prices nationwide in 2012 will see an average increase of 15%,” he said.

• Published In Bangkok Post: 13/07/2011 at 12:00 AM
• Newspaper section: Business

The 500-million-baht d25 Thong Lor condominium will be located on 369 square wah in Thong Lor Soi 25. It will feature98units sized from 35-68 square metres and priced between 97,000 and 120,000 baht per sq m.

“It surprised us that our units did this well with Japanese investors,” said Thavanan Tanesdechsundhara, managing director of property developer D’Well Grand Asset Co Ltd.

These Japanese buyers were both expatriates living in Thailand and Japanese living in Japan. Most bought a unit for renting out to Japanese. Minegishi, a property management firm owned by Japanese, will manage the rental service.

The project worth 500 million baht will be located on a 369-square-wah plot on in Thong Lor Soi 25, comprising 98 units sized between 35-68 sq metres with unit prices ranging from 97,000 to 120,000 baht per sq m.

Sales have reached 50% since launching in March. Construction is scheduled to start in August 2011 and finish by the end of 2012. Project finance comes from United Overseas Bank (UOB) with 85% of construction cost totalling 160 million baht.

The company expects to have 80% sales by the end of the year and will either sell or keep for rental the remaining units after the project is completed, said Mr Thavanan.

It also plans to develop a single-house project with less than 100 units in the Ratchaphruek area with unit prices lower than 10 million baht in 2012 and a townhouse project in 2013. It is in talks with landowners in that area.

“We are not going to copy other developers, like we’re making a box of cookies. We will focus on design and practical functions to develop a niche,” said the 34-year-old former lecturer in architecture at Thammasat University who shifted to the property business in 2007.

He said developers need a stable infrastructure plan and a specific period for the plan to make a building profitable, as well as stable politics.

Established last year with registered capital of 120 million baht, DWell Grand Asset Co Ltd is held by three parties: Mr Thavanan (50%), the Techapaibul family (25%) and the Witoonchart family (25%).

• Published In Bangkok Post: 12/07/2011 at 12:00 AM
• Newspaper section: Business

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