HONG KONG SAR - Media OutReach - 6 September 2021 - whyborder, a borderless property marketing platform, is introducing Asia's first international reverse bidding auction on overseas properties. Hong Kong buyers who are seeking properties overseas can connect with developers who are offering premium discounted deals via whyborder.
With travel restrictions still in place in many countries and the oversupply of properties in some countries, whyborder offers a rare opportunity for investors and buyers to purchase properties at ideal prices directly from developers both from and outside their home countries. Purchasing properties in foreign locations has become a major trend in Hong Kong as people plan their retirement, children's education and immigration overseas. Hong Kong buyers became the fifth largest foreign investors in central London as of August 2020.
Started in 2020, whyborder is an innovative web-based platform to facilitate cross-border real estate business for developers, agents, sellers and buyers. Managed by a team of real estate businessmen which believes in transforming the industry by providing greater transparency in property deals, whyborder makes available information that was previously difficult to access. These include live virtual tours, videos, photos, floor plans and construction documents for users to better assess and understand the property before making a purchase decision.
One of the highlights of whyborder is a unique reverse bidding feature known as whybid that allows buyers from across the globe to bid on international properties, from the comfort of their own homes. Interested buyers can sign up to view and bid for their preferred price during the limited bidding period. Once the bidding closes, the buyer who had placed the highest bid and above the seller's reserve price will be the eventual owner of the property. This entire transaction can be completed in just two months with this streamlined process.
The first whybid auction will be taking place from 08 to 15 October 2021, starting from the Thailand market. Properties listed include：
- Maru Ladprao 15
- Manor Sanambinnam
- Hyde Sukhumvit 11
- Supalai Sukhumvit 39
- Supalai Elite Surawong
- Supalai Prime Rama 9
"Buying properties is a major decision for many people. Our goal is to facilitate better decision making by offering transparency and a wealth of information and features to make buying and selling accessible to all, no matter where they are located. We hope to raise awareness and encourage more people to explore the buying and selling of properties online in a safe and convenient manner," said Mr Dave Loo, Founder and CEO of whyborder.com.
whyborder also introduces whyrefer, a unique feature in the platform that allows its members to earn a 0.2% referral fee by sharing the properties that are listed in the whybid campaign via their personal referral links. Upon the purchase of said properties through one of these links, the referral fee will be transferred to the account of the member who owns the link.
With whyborder.com, buyers can liaise with agents and developers to address specific concerns on their interests. A wide range of properties spanning 54 cities and with a coverage of 6,173 districts, 555 train lines, 9,537 train stations, 9,649 landmarks is already listed on the platform. They include popular locations like Australia, Canada, Japan, Taiwan Thailand, and UK as well as emerging sites such as Cambodia, Malaysia and Vietnam.
 Source: London Residential at Sotheby's International Realty
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