Gen Y opt for house-hunting online

In emerging markets, the younger generation is driving the search of real estate to the internet, according to a new study.

Real estate is moving to the web as tech-savvy millennials drive the search for new properties online, according to Lamudi, a property portal.

The company’s online data reveals that the majority of users accessing the property portal in 2015 are in the age bracket of 18-34. The research is drawn from onsite data for countries in Asia, Africa, the Middle East and Latin America and covers an age range of 18 to over 65 years.

Data from company’s Indonesia office reveals that 65% of all sessions since January 2015 came from the millennial age bracket, followed by 35 to 44 year olds (14.5%).

Kian Moini, Co-Founder and Managing Director of Lamudi Global, said: “The shifting demographics in the emerging markets are very important for the real estate industry. Many of these countries have a young population, who have grown up with technological advances and are more comfortable using the Internet in everyday life."

“The millennial generation is spending more money on consumer goods, and is more enthusiastic to spend time and money on technology. This presents an exciting opportunity for real estate professionals in emerging markets, who now need to strengthen their online presence to conquer the growing Internet community.”

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