A passion for mergers and acquisitions helped lead Marciano Birjmohun from the Netherlands, where he managed the marketing of family-owned properties, to Knight Frank Thailand, based in Bangkok which focuses on Luxury Residential Properties. 

How did you get into the real estate industry?

In the late 90s (prior to AirBNB), overseas rentals were spread across a variety of different forums and websites. I had the privilege to place several family-owned units in Miami and New York on advertisement websites. These rentals picked up quickly which led me to decide to study the US market.

While living in the Netherlands I was part of a merger committee - with a goal to merge to large healthcare entities with a regional reach of 1 million patients. Mergers & acquisitions attracted me and I decided to continue on this path.  

What are some of your career highlights from your time in the industry?

Being involved in the merger of two major healthcare entities in Amsterdam, the Netherlands. 

Being part of record-breaking residential sales in Thailand 2016 +1,000 units.

Providing mortgage financing to foreign entities in Thailand, and surpassing the target with US$1million (zero marketing budget).

Closed several hotel transactions on both buy and sell sides (international).

What are the biggest issues facing the industry in Thailand at the moment?

Land prices in Thailand are rising exponentially and, as a result, all new residential units are priced as high-end/luxury condominiums. Domestic purchasing power is low due to increasing household debts and low credit approvals. 

How has the industry changed in the time you have been involved with it?

The Bangkok CBD area has seen exponential growth. Looking back at 2010, prime properties were priced at US$2,000 / sqm. In 2016 this is almost impossible to find: average residential CBD units are not less than US$5,000 / sqm. The market has shifted, offering more high-end and luxury products. Branded residences are in demand, with riverfront properties at the top of the list. The main public transportation line (BTS Skytrain) has been the artery and backbone for developers, and there is now no space left within walking distance to the Skytrain. This same transport line is expanding both ways to match the rapid urban development.

There is no change in the level of professionalism: Thailand remains a destination where any stranger can act as an agent. Thai government bodies don't promote regulations or licensing for real estate professionals. More often there are private associations that try to offer levels of standard.

What changes would you like to see over the next two to five years in the industry?

I’d like to see licensing and regulations put in place for real estate professionals. On the developer front, the level of hospitality (sales staff) should be leveraged. English language should be promoted, which will help communication and direct foreign investment. And the buy-to-let environment has to improve.

What advice do you have for people who are just starting out in similar careers?

Be on the field. Experience yourself. Connect with the right people. Do site visits. Attend seminars and network.

What do you believe is a unique factor of doing business in Thailand?

Other than the great climate and atmosphere, in Thailand, doing business is not obstructed by too many regulations and protocols. It’s an open market where you can grow steadily with the right mindset and attitude.

What is your favourite holiday destination in Asia?

To name a couple: Singapore and Hong Kong!

What’s your outlook for your sector for the next year?

Bangkok urban development will stretch further to suburban areas, which offer more attractive prices. Foreign buyers can still purchase their ideal apartment here for a reasonable price. The Pattaya market will recover in Q3 2017 due to overseas investments and improving infrastructure. Overall the uptake will be healthy. 

Where would your next purchase be?

A family home in Bangkok or Pattaya.

More from Marciano

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