THE coming of Lamudi Group in Davao City will help with the current boost of the real estate industry in the city.
Lamudi is an online real estate marketplace which offers sellers, buyers, landlords, renters, and buyers a platform to find or list properties online for wider network. It was first established in 2013 in Berlin, Germany and is currently available in 13 other countries such as Philippines, Bangladesh, Indonesia, Myanmar, Pakistan, Sri Lanka, Mexico, Colombia, Peru, Jordan, Qatar, Saudi Arabia, and United Arab Emirates.
As they had already established their services in Metro Manila, Lamudi Managing Director Bhavna Suresh said their coming in Davao City is a result of the great influx of real estate developers in the regional level as Metro Manila has already become too crowded.
“We are a very data-driven company so the decision we take is pegged on what our data tells us and for the last 12 to 15 months, we’ve seen a small increase in demand in Davao. If we talked about the last eight months alone, there was a spike of about 30 percent month on month. We think it is because of all the infrastructure investment that’s happening. A lot of our partner developers also are moving into the region to explore launching new projects. There is a lot of noise around the region. The home buyers and property seekers are obviously following it,” said Suresh.
For his part, Davao City Investment Promotions Center (DCIPC) Officer-in-charge Lemuel Ortonio said Lamudi’s establishment in the city will help provide organized listing for a wider network of real estate sellers and buyers.
“Before if there are inquiries about the spaces in Davao City, they could not generate listings but with Lamudi coming in Davao City, listings of the spaces in the city will be updated. They can also reach a wider network,” he said.
Nationwide, Suresh said they have recorded 1.5 million users and visitors of their website inquiring and posting about real estate properties for sale.
Suresh also said out of this number, a good estimate of 8 to 12 percent are converted into sales basing on the survey results that they conduct with their searchers.
“We have no data on transaction because the minute an inquiry leaves our platform, we don’t know whether the transaction has happened or not. So this is us just collecting feedback. We go back to our searchers and ask them through surveys. The numbers could be more than that, for sure,” she said.