There are many developers selling properties in Thailand. Some are one-man-bands while others have a multitude of brands to fit their varying demographics of buyers. It is incredibly important to ensure that buyers carry out their due diligence before buying a property especially for off-plan purchases as there is not a tangible product for a buyer to assess before parting with their cash.
DDproperty collected research to understand what buyers look for when choosing a suitable developer. The quality of the interior fixtures provided by the developer was the number one priority for buyers according to 68% of respondents.
Thailand Consumer Sentiment Study was shared by all respondents regardless of whether they were a homeowner, property investor, renter, or if they lived with parents. It was also shared across all age groups apart from those over 60 years old who very slightly prioritised the developer’s portfolio of past projects over the interior fixtures and fittings.
Looking at a developer’s portfolio enables buyers to assess the quality of the finish and how the property has stood the test of time. Hence this was the second most important variable for renters, those living with parents, and nearly all age groups. However, the developer’s reputation as a close third and in some cases was an equal consideration in addition to the developer’s recent track record and reviews, the latter that was echoed more by investors than any other group.
This information solidifies the need for developers to ensure that they maintain their reputation and keep their consumers happy to lure in future business. It also suggests that buyers carry out significant research on their developers and that developers should put as much effort into keeping their existing and past customers happy as their marketing strategy.
Other factors listed when choosing a developer were the availability of promotional campaigns. This was most important for those aged between 22 and 29 years old and respondents living with parents suggesting that these segments are first-time buyers are more price sensitive so any helping hand they can get to secure a property is gratefully received.
Developer financial stability and whether they are publicly listed are the least important factors for buyers when considering a developer.
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