As the number of internet users in
the Philippines grew by 531%, online house-hunting is now more popular than
traditional methods.
DECEMBER 2014: Real estate industries across Asia are moving online,
with a new report revealing that online property search is on the rise across
the region.
The findings are contained in a new report from global property website
Lamudi into real estate in 16 emerging countries. The report, Real Estate in the Emerging
Markets, covers six countries in Asia: the Philippines,
Pakistan, Bangladesh, Indonesia, Myanmar and Sri Lanka.
The report, which is available in an easy-to-read web format, is based
on a series of online surveys of house-hunters and real estate agents in each
country. Extensive onsite data from Lamudi’s global network of websites was
also used in the research.
The trend towards online property search is particularly pronounced in
Indonesia, where 96 percent of agents surveyed by Lamudi said the Internet was
now frequently used during the house-hunting process. Similarly, 90 percent of
agents in the Philippines say the web is a commonly used tool among those
looking for a new home. This is mainly due to the fact that the number of
internet users in the Philippines grew by 531% in the last five years.
In countries such as Pakistan, where traditional methods of finding
property such as newspaper classifieds remain the most popular, online real
estate listings are quickly catching up. Nearly all those surveyed expected
online property search to become more popular over the next decade.
In Myanmar, a country where Internet penetration stands at just 1
percent, the dynamics of the real estate sector are also changing. Sixty-five
percent of agents surveyed said the Internet is sometimes used by
house-hunters, while 29 percent said the web was often used. Moreover, 86 percent
of agents surveyed expect to see an increasing number of house-hunters will
switch online in the next 10 years, as the Internet becomes more widely
available in the country.
Lamudi’s Global Co-Founder and Managing Director, Kian Moini, said:
“With 2015 just around the corner, the report also highlights the phenomenal
growth that we expect to see in Asia’s property markets in the coming months.
This is largely due to strong economic growth, combined with an expanding
middle class and increasing wealth, which are trends we are seeing across all
Lamudi’s Asian markets.”
The highest growth is expected in Indonesia, where three-quarters of the
real estate agents surveyed said they expected to see the property sector grow by
eight percent or more during 2014. A similar result is also expected in the
Philippines, where two-thirds of agents expect growth of eight percent or
higher.
The report also examines differences in house-hunting habits across the
region, revealing that affordability drives decisions about where to live in
countries including the Philippines, Myanmar and Indonesia. In Bangladesh and
Pakistan, house-hunters are more concerned about safety and security. While in
Sri Lanka, location is top of mind for those in the market for a home.
The 16 countries covered in the report are: Indonesia, the Philippines,
Myanmar, Bangladesh, Pakistan, Sri Lanka, Jordan, Saudi Arabia, Nigeria, Kenya,
Tanzania, Morocco, Ghana, Ivory Coast, Mexico and Colombia.
0 comments:
Post a Comment