Online platform brings home good advice about residential property
BAANIA, a company that provides online communication and data to support property businesses and their customers, expects to offer its platform to the international market in 2020.
Anchana Vallipakorn, co-founder of Baania (Thailand), said the property tech firm offers an intelligent platform with big data management designed for property businesses and people who want to buy houses and condominiums.
The firm provides an integrated online marketplace that allows customers to access information about homes from data analytics via a website and a mobile application.
Homebuyers can access personalised information to support their decisions about which house or condominium to buy.
The platform aims to be a source of comprehensive real-estate information offering total solutions.
Anchana said the platform thoroughly understands the requirements of new-generation customers and responds to those searching for any residence, whether they want to buy, sell, rent or even obtain a property for rental.
She said that for property businesses that want to communicate with customers, the firm provides a business intelligence platform with customer-demand and supply analysis, competition analysis, market predictions and brand value analysis, which would give property businesses a competitive edge.
Anchana said customers who want to buy a new house or condominium have changed their behaviour over the years. Most customers will spend time accessing home information via the internet before they go to a sales office to make a purchase.
More than 95 per cent of customers will access the internet in order to compare house prices before they make a decision, and customers normally study 11 different property projects. They use the internet to access information about transport, infrastructure and features of the home, and compare prices before they make their decision.
The firm has so far had about 1.6 million users and expects to reach a total of 5.6 million users by the end of the year.
It currently provides information about more than 5,00 property projects in Chiang Mai, Chiang Rai, Lamphun and Nakhon Ratchasima provinces, as well as Bangkok and its outskirts. It expects to provide information about property projects nationwide next year and expand to other countries in 2020.
She said that the total property market this year would have a value of around Bt768.5 billion, and about 58 per cent of properties are in the Bangkok metropolitan area.
Property businesses will spend 1-3 per cent of their budgets – or Bt7- 10bn – on marketing by the end of this year, with digital marketing costs continuing to grow.
Baania believes there is high potential in providing an online communication platform, digital marketing, business platform and business intelligence solutions to support the market.
By the end of this year, the firm expects to reach revenue of around Bt100 million this year, with total revenue three times that in 2018 when the firm expands its marketing base to the whole country.
She said the firm is negotiating with business partners in Malaysia and Vietnam in order to expand its business to those countries. It is also accessing angel funding from Rain Tree Dot Com and 500 Tuk Tuks.
“We analyses big data on housing projects over the previous five to 10 years,” Anchana said. “This involves things such as current pricing and future price trends. It also compares information on housing projects with the search behaviour of customers.
“It is a good opportunity to deliver a useful service and information to customers and house suppliers or property businesses.”