Internet Influences Majority of Property Buyers: Study

BANGALORE: Google India has conducted a survey related to real estate search query, which says that the rental amount of $43 million is the result of internet’s influences on real estate business. It claims that in India, half of the real estate related decisions are inclined by internet search.

According to the survey, internet search is the most popular medium of searching for property followed by print media and sales broker. Every year a steady growth can be noticed in queries for property on internet. The survey was conducted over 6,000 people across 15 cities in India. About 47 percent respondents were more interested in information about the area, location and the budget, rather than the new or resale properties. Whereas 23 percent were particularly searching for resale properties and 30 percent were interested only in under construction property.  

Nitin Bawankule, director, Google India Industry told that, access to internet in search of real estate information is a quite popular process, which is not limited to metro cities only, but now has adopted by public from small cities. 60 percent people access to internet for in depth information about the property and to know the trending property, 52 percent people choose internet because it provides numerous options for comparison, 49 percent people use internet for the easy access the contact details of owner and developers and 43 percent people search on net for financing and document processing information. People reported that they search for blogs, forums and broker sites to find information. In addition, there are mobile queries apps that exist, and 40 percent of buyers come through the mobile apps.

Yahoo homes, rent.com, magicbricks.com, 99acers.com are some of the popular websites being used by the buyers to search for the property. However, people’s major concern while searching was the lack of exact and updated information, as websites sometimes don’t have sufficient information about the property.