Real estate broker foresees brisk growth


Acute Realty Co, a real-estate broker and the operator of Thaiapartment.com, expects its business to grow by 15% next year, from an expected transaction value of 1.5 billion baht this year.

The company recently opened a new office in Hua Hin, in addition to its two offices in Bangkok, to serve rising demand for real estate in the tourist destination where many European visitors are interested in buying second homes for their own use and as investments.

Managing director Precha Supapitiporn said the company aimed to become the leader in real estate services that included brokerage service, consulting for buyers and sellers, as well as sales management of property projects.

In the Hua Hin market, the company currently manages sales for the 480- million-baht Mykonos Condominium developed by Major Development Plc and the 450-million-baht Tira Tiraa boutique condominium in Hua Hin town. It expects to manage sales of another leasehold residential project soon.

Altogether, its listings in Hua Hin have a combined value of around two billion baht.

''The demand for professional agents involved in managing and trading property projects in Hua Hin will be more active next year, as there will be many new property projects opening in the city, up from the existing 100 projects,'' he said.

Mr Precha believes that competition in Hua Hin is not as tough as in Bangkok and notes that the brokerage fees are also higher, at 5-8% of the sale value, compared to only 3% in Bangkok where many large developers have opened their own brokerage offices.

Established seven years ago as a pioneer in listing apartments for rent and resale on the internet, Acute Realty has expanded into brokerage and consulting services with about 40 billion baht worth of properties in its listings.

The company aims to be the centre for transactions related to the apartment business, especially the selling of apartment buildings for investment purposes.

He said the company recorded growth of about 40% in its transaction value last year but this year business was affected by the political situation.

However, the company still anticipates a positive outlook next year after the election. Bangkok Post.

sas