The internet has definitely changed the way we live our
lives today. One particular area where it is bringing massive change is in the
highly competitive real estate industry. In fact, a recent study by Lamudi indicates that the increased internet penetration rate in several Asian countries
has contributed to an in increase in online property search across the region.
The survey was conducted in over 16 emerging countries
including the Philippines, Pakistan, Bangladesh, Indonesia and Sri Lanka and
uses data from Lamudi’s global network of websites as well as online surveys of
house-hunters and real estate agents in each country.
According to the results of the survey, internet penetration
in the Philippines is now at 36%, which is slightly higher than the Asia
Pacific average of 32%. This equates to a growth rate of over 500% in the past
five years.
Consequently, the report also indicated the expected growth
in the region’s property markets in the coming months. This is what Lamudi's international Co-Founder and Managing Director, Kian Mioni has to say:
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 increase wealth, which are trends we are seeing across all Lamudi’s Asian markets.
You can view the full report at Lamudi’s website by using
this link.
Although internet penetration is relatively okay in the
Philippines, there is still the issue of internet speed, which has made
headlines in the past. Nonetheless, this is an issue that needs to be addressed
separately.
