First auction of Thai real estate on Web
19 Oct, 1999 (Bangkok Post) - MLS Property says it has launched Thailand's first Internet
auctions of Thai real estate.
"We are not acting as brokers, but are offering a new channel to match
buyers and sellers," managing director Mike Chetter said yesterday.
The company has invited several banks and developers to auction seized
properties on the net. By the end of this year, MLS expects to list 500
properties on behalf of banks, and at least five from developers. Each listing
will cost 100 baht.
Next year, it will allow individuals to list properties but the charge for
them will be 6,000 baht per property.
"Bids will be accepted on our website," Mr Chetter said.
The auction is located at www.realestatethai.com.
The site now lists a total of 150 serviced and non-serviced apartments on
Silom, Sathorn and Sukhumvit roads, with details including the evaluated and
market prices, size, location, map, space and photo.
Next month, the company will add information on single houses and office
space to the site.
The company is also asking major banks to allow bidders to buy properties by
using credit cards.
Bidders will need to receive an ID code from MLS to enter the auction. Results will be posted on the website.