Online real estate market seen to grow over next five years

MANILA, Philippines - MyProperty.ph, an online marketplace for real estate property, expects its business to grow over the next five years as the construction industry is seen to continue to expand and as more people planning to make a purchase turn to the Internet.

Get Sold Corp. managing director Butz De Castro said in an interview the firm is optimistic that its MyProperty business would grow with construction activity in the country expected to continue to rise over the next five years.

“We really think the construction of all these properties whether commercial or residential, is going to continue for the next five years,” he said.

“There will be property-seekers who are looking for these because the supply would not be there if there is no demand...so the business of online classified, if you’re looking at the people who will search for these kinds of properties online, will still continue and still be on the rise,” he added.

Construction activity in the country is expected to continue to grow given demand, particularly from overseas Filipino workers (OFWs).

De Castro said the online classified business is likewise seen to grow as more and more people planning to buy real estate property go online.

Visiting online classified websites, he said, is now the preferred way of searching for property.

The use of the Internet for searching real estate property has been increasing as many developers or sellers are tapping the online space for advertisements of properties for sale.

With more property sellers putting up advertisements online, individuals checking the online classifieds are given a wide variety of properties to choose from.

Online classified websites also allow visitors to save the property listings they are interested in to their accounts which makes it easier for them to compare and make a decision in making the purchase.