The real estate sector in 2021 is facing a crisis on top of a crisis from both COVID-19 and the economy, shrinking the market by 10%, “Dr. Kessara” said.

She indicated that the market may remain sluggish and wait for recovery after 2022, recommending a strategic shift toward online market penetration. Meanwhile, VIRTUAL SOLUTION presents a survival route by adding a high-potential marketing channel, accelerating cash flow, and boosting year-end sales, while preparing to organize “Virtual Property Expo 2021,” the largest real estate buying and selling event of the year in the online world in a virtual trade fair format. The event aims to bring together 300 leading quality projects from every brand nationwide for 580,000 real-demand customers to choose from during 14–17 October 2021 at www.propertyexpo.net

Dr. Kessara Thanyalakpark, Managing Director of Sena Development Public Company Limited, said that the current real estate situation is facing a crisis on top of a crisis from both the COVID-19 outbreak and economic contraction. The overall market this year is therefore expected to decline by 10%, following a 35% contraction last year. If the COVID-19 situation can be resolved within this year, the market should gradually recover from 2022 onward. However, condominiums in the affordable segment targeting working people and Thai investors who buy for resale or rental still show a trend of sales growth. She also recommended a survival approach for real estate operators that are not large developers: maintaining business liquidity, which is something that can be applied in every crisis.

“One of the solutions that real estate operators should pursue is to adjust their strategy to release inventory and generate as much cash flow as possible during this period. Maintaining liquidity is something that must be done today. We must accept that if our business does not have a long enough runway, we must scale it down and preserve liquidity in order to get through this crisis. A business can incur losses, but it must have liquidity, because every crisis ends someday. We need sufficient cash flow, to keep our team intact, and to prepare ourselves to survive until the day the crisis has passed,” Dr. Kessara said.

Mr. Tanapon Subsomboon, Executive Chairman of YDM (Thailand) Co., Ltd., a digital marketing expert and one of the co-founders of VIRTUAL SOLUTION, said that in terms of online marketing, during the latest wave of the COVID crisis, searches for houses and condominiums on Google declined significantly. Therefore, marketing during this period must be handled carefully. In his view, mass communication focused on broad awareness is likely not suitable. Instead, the approach should be precision marketing, targeting only those who still have purchasing power, investor groups, and people who genuinely want to buy houses and condominiums.

“The media channels that can do precision marketing well are inevitably Google and Facebook. Every brand knows the effectiveness of these channels, which has led all brands to jump into competition, driving ad costs upward while market demand has declined. In addition, visiting real estate projects has become more difficult because buyers are concerned about COVID-19. Project owners therefore need to create online platforms so that interested buyers can visit projects more easily, whether through virtual house or condominium presentations or VDO conference systems that allow sales teams to talk with customers,” the CEO of YDM (Thailand) advised.

Mr. Kumpol Nisitsukcharoen, Executive Director of Rightman Co., Ltd. and founder of VIRTUAL SOLUTION, said that business must continue. Many businesses are facing difficulties today, and one of them is the real estate business, which must find ways to keep operating. He believes that organizing “Virtual Property Expo 2021” will be a high-potential and effective marketing channel that allows buyers and sellers to meet and negotiate during this period. It will help create sales opportunities and success in the fourth quarter of 2021 because it will gather more than 580,000 real-demand customers from across the country. This is an important opportunity to bring cash flow into companies from year-end sales and help businesses survive the economic crisis. It is a very worthwhile marketing investment compared with other forms of marketing.

“Developers participating in the event will receive an efficient return on investment, higher than marketing on their own through social media or influencers, because those options not only require higher budgets but are also fragmented forms of marketing. This event uses a digital platform that collects big data, enabling us to attract people who are genuinely interested in buying homes and to understand each customer’s property-buying needs. This will be highly beneficial for developers in future marketing,” the Virtual Solution executive concluded.

“Virtual Property Expo 2021,” the largest online real estate buying and selling event of the year in a virtual trade fair format, is a platform using the latest exhibition technology that allows buyers and sellers to meet online with functions similar to a real trade fair. It will gather leading real estate brands in one place, featuring more than 300 quality projects from across the country with the best deals available at the event. The company expects more than 580,000 visitors and will use digital marketing tools to gather people across the country who are genuinely interested in buying property, whether for residence or investment. Visitors will find promotions and special deals, be able to compare information on all projects in every location comprehensively, and use the Sale VDO Live Chat system to speak face-to-face in real time with each project to support their decisions at www.propertyexpo.net during 14–17 October 2021. Real estate operators interested in purchasing exhibition space may call 065-562-4545.