Myanmar's ShweProperty.com announced they have launched multiple bank home loan products in the last few months with a streamlined model that supports increased property transaction.
“We match property seekers with lending institutions for live consultation, prior to the property selection. Then we direct visitors to select from thousands of pre-approved properties either from our site or they can contact us directly via our offline Project Sales teams” said Kevin Goos, Managing Director of ShweProperty.com
According to Goos, this has exploded into many auxiliary services such as loan consultation, application processing, and valuation services. “We are exploring products and services to increase even more Developer resources, by routing the leads offline. Clients are paying our fees, which means the product is attractive, therefore we will continue to invest heavily in more infrastructure to bring the services entirely online,” stated Justin Sway, CEO of ShweProperty.com
Home Loans are new to the Myanmar market, but with the new regulation, many banks have developed products similar to Australia or the US with 25 year amortized property loans. This has dramatically changed the market in recent months, most notably was one of Myanmar’s largest financial institution, AYA Bank, launching a new home loan product exclusively with ShweProperty.com in April 2018.
“The AYA Bank Home Loan Launch presented by ShweProperty.com was really well received, with 12,000 visitors attending the event, 200 property developers with 4,200 homes pre-approved by the AYA bank, matching hundreds of property sales resulting in increased transactions during the 3-day event,” says Goos.
According to Sway, they worked closely with their sister company, JobNet.com.mm (one of the top online jobs and recruitment portals in Myanmar) and a cross-platform CRM lead model to match newly employer middle income workers with home loan applications. “These leads are highly qualified, especially for people working at international or conglomerate companies with a steady income and auditable payroll.”
Both ShweProperty.com and JobNet.com.mm companies are backed by UK based institutional investors and Vostok New Ventures (NASDAQ Stockholm, $878 Net Asset Value Company) and operated on the ground by 12 Director level management and a team of 163 staff.
Edited by Gordana Davila