Real estate developers and agents must adapt to changing consumer habits in the Philippines. Home buyers are now utilizing internet and social media during their search for a new home, disrupting one of the country’s last remaining offline-focused industries.
Dot Property Philippines recorded more than one million visits in both May and June of this year, highlighting both the public’s willingness to look for a new home online and the company’s status as the most trusted property portal in the country.
“More and more home buyers are choosing Dot Property Philippines to find their next property. That is because we have the most comprehensive collection of real estate listings in the entire country,” Tanya Peralta-Yu, Dot Property Philippines country manager, explains.
A big reason for the increase in visits was the recent addition of listings from the Mitula Group, Dot Property Philippines’ parent company, to the website. This merger, the two sites had been separate until May, empowers Filipino home buyers with even more choices when trying to find the ideal home.
More importantly, Dot Property Philippines users aren’t simply window shopping. The number of leads (when a person inquires about a specific property) is up significantly as well. Leads coming through Dot Property Philippines rose 33 percent in May and 26 percent in June when compared to the same period in 2017.
The company expects both visits and leads to keep growing throughout the rest of the year as internet and social media cause further disruption in how people search for property. A survey from Hootsuite found there are now 67 million internet users in the Philippines. This was the 12th highest total globally, but with only 63 percent penetration, there is room for future growth. Additionally, the survey revealed Filipinos spent an average of 3 hours and 57 minutes a day on social media sites, making it the world leader in social media usage.
“When you look at the number of people using the internet and compare it with the amount of Filipinos searching for property online, we are really only scratching the surface of what’s possible,” Peralta-Yu notes. “Searching online for property is gaining traction, but as we’re seeing first hand, Filipinos are no longer simply browsing. They are reaching out to the seller when they see a property they like on Dot Property Philippines.”
There are many reasons home buyers boast this confidence in the company. Firstly, Dot Property Philippines is part of the Mitula Group which records 85 million visits per month across 100 vertical search sites and 10 property portals in more than 50 countries.
Second, Dot Property Philippines teams with local partners to support more than property browsing. The company is working with BPI Family Savings Bank to provide visitors with access to a mortgage calculator, information on interest rates and special home loan offers not found on other property portals.
“We are proud to be working with BPI Family Savings Bank. Their support allows visitors of Dot Property Philippines to go beyond seeing a property and price,” Peralta-Yu reports. “We are also honored the country’s best developers and agents choose to list their properties with us. It shows they understand the value only we can offer.”