Thai-ing to woo investors

Developers and real estate companies in Thailand are increasingly turning to direct marketing strategies and promotional incentives in a bid to woo property investors back into the fold...

Some potential foreign property investors have been put off by recent civil unrest in the country and the recent closure of airports did not help.

But a new drive is underway although companies admit they are not able to splash out on expensive campaigns. Slogans such as ‘Try Before You Buy' and ‘Two Beds for the Price of One' are being splashed across advertising boards.

'After the public unrest we need to remind potential buyers what is available. It's all about minimising cost and maximising exposure,' said Apisit Limlongwonse, Managing Director of Nexus property consultants.

'There has been an increase in offers in the past two months because buyers still don't feel motivated to buy and it's panic time for the developers,' Apisit added.

Companies such as Asian Property Development, Preuksa Real Estate and MK Real Estate Development are switching to direct campaigns such as event marketing and mail-outs, according to a recent survey.

Many developers are now offering properties fully furnished at no additional cost. 'Normally, properties come just partly fitted but certain developers are offering fully furnished deals, right down to kitchen appliances,' said Apisit.

Another popular incentive is trying before buying. Under the deal buyers can stay in them for a few months to determine whether or not they like the place, and, if they do, they start paying. 'It's three months living for free and there is no obligation to buy,' added Apisit.

Companies like Nexus and Knight Frank has launched a series of events to be held at various shopping centres and other busy spots around the capital city Bangkok.

'We're bringing the options directly to the buyers. The idea is that throughout this year there will be potential buyers who won't be able to go into to sales offices because of time constraints. This way people can connect with what's happening in the market, make good comparisons quickly and find the overall process less time consuming,' a spokesman said.

Source: www.propertywire.com