October 18th 2018, Bangkok – Hipflat, an online real estate and rental search portal used by
millions of home buyers and renters in Thailand, is at the forefront of changing the property
market in Thailand with revolutionary blockchain-based technology, creating a verified listing
feature.
“On a global spectrum, in some areas up to 90% of online listings are either not up-to-date,
the full information is not provided, or the properties are not available; creating confusion
about what properties are currently on the market and at what price. The result of this cloudy
market, which is an issue in Thailand, as well as Southeast Asia and other countries
worldwide, is that it creates lack of trust and belief in property listings online,” explained
Denis Nemtsev, founder and CEO of Hipflat,
Vast, diverse and highly competitive, Thailand’s property sales and rentals markets can also
be obstructively unwieldy. Lack of market data equals less transparency in the market which
hinders owners, buyers, landlords and renters in making valid transactions; leading to low
liquidity with the market not able to reach its full potential. Whilst Thailand is faring better in
the region than just a couple of years ago, globally it is lagging behind countries like the US
which are far more regulated. Many mature economies are achieving advances in
transparency and boosting liquidity through so-called proptech; pioneering blockchain
technology applied to the property markets.
With real-estate investment at an all-time high in Thailand, Hipflat is at the forefront of this
crucial market advancement, adopting blockchain-enabled protocol, Domus to push Thailand
over the border into the realm of transparency.
Meanwhile, property portals and real estate agents can also compound these market
challenges, with out-of-date, inaccurate and missing information clouding transparency
further and resulting in a marketplace that cannot be trusted and relied upon. The Hipflat
verified listings feature is an essential tool that ensures that property details have been
independently validated by Hipflat members through either direct contact or site visits;
dramatically improving accuracy and presenting trusted and reliable property data.
Denis pointed out that Hipflat utilizes Domus Protocol blockchain technology to create
greater clarity and accuracy in the real estate and rentals market by building communityHipflat
(Thailand) Co., Ltd.
29/4 Soi Phasna 1, Phrakanong Nua
Wattana, Bangkok 10110
Phone: 097-079-9812 | Email: hello@hipflat.com
driven property databases; collecting crowd-sourced property information by rewarding
Hipflat members who contribute high-quality data.
Meanwhile, further boosting success is a recent announcement that Hipflat is one of the first
companies to be integrated into Facebook Marketplace’s Property for Rent Category in
Thailand; launched for the first time in Asia-Pacific earlier this month and already attracting
greater confidence in the market.
“Verified listings are the first step on Hipflat’s pioneering proptech journey, with the portal
committing to boosting Thailand’s real estate and property rental market in the short and
long term. Part of Hipflat’s vision is to roll out its success in Thailand to create a global real
estate Domus Network platform. This platform will ensure that would-be property purchasers
can source accurate listings whilst vendors can sell their property faster, at the best possible
offer, all with the help of Hipflat’s commitment to the power of proptech,” added Denis.
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About Hipflat
Launched in 2013, Hipflat (www.hipflat.co.th) is registered in Singapore with operational
headquarters in Bangkok, Thailand. Hipflat operates one of Thailand’s leading online real
estate marketplaces, connecting property buyers/tenants (residential, commercial, and
industrial) with sellers/landlords; i.e., individuals, brokers, and developers.
Hipflat currently features 340,000 listings from 40,000 agents, owners, landlords, and
property managers, with 55% of them being rentals and 45% homes for sale. Over the past
12 months, home buyers and renters collectively spent more than one million hours
browsing property listings on Hipflat and viewed 3.7 million web-pages monthly.
The company is backed by well-known international VCs and business angels, including 500
Startups and Japanese publicly listed companies OPT (2389:JP) and Aucfan (3674:JP).
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