Property developers and agents looking to engage the next generation of home buyers should build a strong presence on social media, leading real estate website Lamudi has advised.
Across Bangladesh, more and more people are switching online every year. In 2013 there were 33 million Internet users in the country, or about 22 percent of the total population, according to data from the Bangladesh Telecommunication Regulatory Commission (BTRC). Social media is gaining more popularity day by day among internet users. Within the real estate sector, both the Internet and social media are becoming popular tools among house-hunters.
This is particularly true of younger generations. There are 5.8 million active Facebook users in Bangladesh, which equates to four percent of the total population. However, recent Lamudi data shows the extent to which the younger generations are engaging with the company on social media.
Of the people who have “liked” the Lamudi Bangladesh Facebook page, 75 percent are male, and 43 percent are between the ages of 25 and 34. Among these people who are liking, commenting and sharing the posts, 70 percent are male, 31 percent are aged between 25 and 34, and 27 percent are aged 18-24.
At the same time, a recent survey of local house-hunters conducted by Lamudi revealed that 72 percent of house hunters often used the Internet to search for property. While online search has been becoming increasingly popular in this region, newspapers and real estate fairs also remain popular among agents looking to advertise their properties, particularly among less tech-savvy segments of the population..
Rajesh Grover, Managing Director of Lamudi Bangladesh, said: “For those working in the real estate industry, this means their focus for 2015 should be on online and mobile platforms, to market their properties and reach the maximum number of potential customers.
If you are looking to target a younger generation of homebuyers and renters, you must have a good online presence. This includes setting up a corporate page on Facebook and other social media platforms. This is the ideal way to grow your business, and instantly connect with existing and new clients.”