Sunday, February 28, 2010

63 percent of survey respondents primarily search online for properties

Only 22% first look for properties in newspapers

In a recent iProperty.com Singapore online survey, 63.1% of 1,000 participants said that they primarily search for properties on the Internet. This compares strongly with the surprisingly low 22.3% of participants who still opt to look for properties in the local newspaper classifieds first.

Even fewer participants or 7.3% of them start with their real estate agent first when it comes to buying a home.

"It's clear that more people in general are going online to websites like iProperty.com for their property search and information needs, rather than relying traditionally on newspapers," said Mr Patrick Grove, Executive Chairman of the iProperty.com Group.

A whopping 88.5% of the participants said they look for properties for sale when using the Internet for property research. Some 38.1% of them used the Internet to research property market trends while 33.8% look for property news online.

Of the participants, 66.1% generally looked for information of completed condominiums online while 40.1% of them looked for information of new condominium launches on the Internet. Some 25.5% of them are interested in completed landed properties.

When queried about their main motivation for buying a property at the moment, 35.4% of them said their main aim was for investment purposes. Some 26.6% of them said they are looking to buy for own stay.
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