Real estate hunting goes online in developing countries

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. 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.” 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. In total the following 16 countries were included in the the report: Indonesia, the Philippines, Myanmar, Bangladesh, Pakistan, Sri Lanka, Jordan, Saudi Arabia, Nigeria, Kenya, Tanzania, Morocco, Ghana, Ivory Coast, Mexico and Colombia.