Technology Is Changing Thailand’s Real Estate Sector

September 22, 2017

Technology Is Changing Thailand’s Real Estate Sector

Disruptive technologies have begun changing the way business in real estate sector gets done. This technology affects both commercial and residential properties in Thailand, according to analysis from CBRE. The company has noted a number of tech trends changing the real estate sector.

One of the most notable trends is data aggregation, or the using of “big data”. In terms of real estate, buyers are now able to access data from multiple sources in real time giving them more information than ever before. This has transformed the way people make home buying decisions and has also streamlined the decision-making process. Price data in particular has changed the real estate industry even if it is not as advanced in Thailand as it is elsewhere in the world.

“In Thailand, transaction data is not as transparent as in some countries where transaction prices are public data, but sites that track asking prices in Thailand can give buyers a better idea on pricing that will leading to more transparent deals and allows both buyers and sellers to be better informed,” says Aliwassa Pathnadabutr, Managing Director of CBRE Thailand, to The Nation.

Smart Building Technology is another tech trend changing real estate. Property managers have benefited from this the most. They can now install sensors that help monitor traffic, waters, temperature, and light. The information is used to plan and maintain properties better. This technology is also being utilised in the residential sector with companies such as Samsung, Google, Amazon, and Apple all involved in its development.

“These major players are creating platforms that enable the average person to build out their smart home solution DIY-style. As a result, many appliance and home equipment companies are developing smart home-enabled devices into their portfolio including lighting controls, thermostats, home safety sensors, security cameras, locks and alarms, home appliances, sounds systems, and TVs,” says Aliwassa.

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