MORE and more property seekers turn to Lamudi as shown in the average rate of search activity in its portal, which grew by 40 percent week on week in January 2019 alone.
Based on data the real-estate web-site provider issued to the BusinessMirror on Thursday, the number of hits it gained from January 1 to 7 this year stood at 19.35 percent of the total searches for the month as compared to 19.21 percent during the same period in 2018.
For the succeeding weeks, the number of visits to the platform from January 8 to 14 was at 23.93 percent versus 22.22 percent a year ago; January 15 to 21, 22 percent versus 24.94 percent; January 22 to 28, 22.03 percent versus 24.09 percent; and January 29 to 31, 12.7 percent versus 9.54 percent.
Seventy-one percent and 68 percent of the aggregate searches were recorded from the second to fourth week during the first month of 2018 and 2019, respectively. The top 3 most visited weeks were, likewise, within those brackets.
The first, second and fifth week of January this year had stronger shares of searches compared with the same week of 2018. However, third and fourth week of last year had better share of hits as against this year.
“These are incredible numbers. We’ve never seen numbers like these. That’s what we’re very excited about,” said Bhavna Suresh, CEO of Lamudi Philippines.
Without citing the exact figures, she added they have seen “so much traffic coming in from the Middle East and from the US [United States].”
At present, Lamudi has a total of 3.15 million searches. Statistics-wise, it continues to enjoy a stable increase as the average compounded growth per month stands at 3.27 percent.
Per the percentage of weekly searches over the current aggregate traffic, Week 1 was at 14.7 percent; Week 2, 18.18 percent; Week. 3, 16.72 percent; Week 4, 16.74 percent; Week 5, 15.83 percent; and Week 6, 17.83 percent.
Lamudi expects that the average compounded growth for 2019 will increase by up to 5 percent on the back of the “Build, Build, Build” program of the government, which is focused on building transportation to connect nearby provinces to Metro Manila.
The company said these may cause expansions on the property developers’ side and further development of emerging areas.
Last year, the property portal provider saw that Iloilo, Davao and Pampanga would have a significant growth in terms of the condominium market. This was supported by the latest developments in those areas, which, in turn, will bolster the supplies and the growing real-estate demand trends.