The REICs five major missions are:
Becoming the most recognized and reliable Thai Real Estate Information Center.
Developing research, analysis and forecasting capabilities through the effective use of reliable Real Estate Data.
Developing tools and indicators that reliably forecast the Thai property markets demand, supply and price levels.
Regularly disseminating Real Estate Information to the public.
Becoming a Real Estate Industry consulting center and knowledge base.
Real estate The REIC mission is to provide relevant information to all stakeholders in the private and public sectors.
For the government sector, the REIC will provide information that will benefit macro-economic policy planning. The real estate information will provide information that will allow the private sector to effectively plan their operations. Consumers will be able to use REIC information to determine housing and housing-finance costs.
An effective REIC requires a high-level of cooperation among various public and private sector agencies. The real estate information thailand currently works closely with the Government Housing Bank, the Bank of Thailand, Department of City Planning, Department of Land, Department of Public Works and Town and Country Planning, Bangkok Metropolitan Administration, and the National Housing Authority. We are working continuously with these agencies to design an efficient information system that is easily accessible and operates with the minimum amount of duplication.
The REIC has developed a comprehensive and effective real estate database infrastructure. Through the construction of a wide variety of indices, the REIC has created a framework that will allow the both the private and public sector to more easily and most importantly, accurately forecast the real estate industrys demand and supply factors.
The REIC currently provide among other indices a housing index, house rental rate index, statistics for land allocation permits, housing construction permits, construction commencement information, real estate sales and housing completions etc.
Real estate indicators and statistics are now available for five out of seven real estate segments, including residential properties, office buildings, department stores and shopping centers, hotels and resorts and factories and industrial estates.