Online property market in India
This article in DNA states that after matrimony and jobs, the online property market is all set to be the next big thing on the internet, according to Indiaproperty.com CEO Murugavel Janakiram. “Online property market is growing exponentially in India and it is expected that internet would take up about 10-15 per cent of the total real estate advertisement expenditure soon,” he says, “In the US, 90 per cent of property buyers use internet as their primary medium of search.”
In another note, Anurag Gupta estimates the online classifieds industry in India at US$ 55 million (INR 250 crores), growing at 100% y-o-y (against an estimated INR 500 crore for print classifieds, growing at 10%-15%). Of this, just the jobs and matrimony market account for INR 200 crore (against INR 100 crore for print).
Now with property also coming into the online sphere, should we look for the online classified industry to take another big leap. How about an online website like Zillow for property?
The other market to look out for would be automobiles, with barely any big online players in that sphere.
Filed under: Digital culture, Ideas & Innovations, Statistics, Trends