Property Finder, a real estate digital marketing platform, announced a number of expected variables that will drive more users of electronic platforms, who buy residential units, stimulating their dealings and purchasing preferences, Invest-Gate reports.
This comes in conjunction with the spread of reliance on the internet in a large extent, especially in the important decisions in the Egyptian consumer’s daily life. Mohamed Hammad, regional director of Property Finder, explained in a recent press release, “The prevalence rate of mobile in Egypt, which exceeds 100%, and the prevalence of the internet use among citizens, which exceeds 50%, support the trend of providing more services on the platforms.”
When it comes to housing, Hammad said using the internet is no longer a luxury, but rather a necessity to ensure access to the largest number of buyers looking for real estate units used for various purposes. He noted, “As the developers and brokers’ visions developed according in line with our expectations, the electronic platforms accounted for 80-90% of the promotional and advertising trends.”
“Meanwhile, the budget assigned to press and road ads, for example, does not exceed 10% of advertising expenses … Therefore, developers and brokers are expected to continue to focus on electronic platforms and sites such as social networking to reach the largest segment of future buyers,” he underlined.
According to the regional director, Property Finder expects banks to enter as an intermediate channel between the developer and the client, which will lead to increased interaction within the real estate investment market, after enhancing customers’ reassurance when depositing their installments in the bank.
The index showed that the market during the first and second quarters was experiencing a weakness in the rates of interest in the property, while June began to restore the momentum of the demand for real estate units, especially residential ones, in conjunction with the holiday season, he elaborated, underscoring that the North coast was one of the most searched destinations.
On the other hand, New Cairo, 6th of October City, Nasr City, Maadi, Heliopolis, Haram, Shorouk City, and Obour City were among the most visited destinations by users, in terms of online search of residential units on the platform, according to the statement.
Hammad stressed that the trend of consumers to rent is generally on the rise, pursuant to the company’s data, in light of the high prices of basic units and the low purchasing power of consumers. “The rental solutions come as a temporary move by a large number of consumers before making a final purchase decision due to the recent high price increases and the desire of consumers to wait for any new changes in the market, in the second place comes primary units with more flexible payment terms,” he affirmed.
“The resale market is the most affective segment of consumer demand, especially as the purchasing power of consumers prevents them from paying huge amount of money in one go to buy back units from the original owner,” Hammad further noted.
In terms of the age categories, the platform indicators showed that more than 48% of its users are within the age range of 25-34 years old and women accounted for 57.2% of the search, while men accounted for 42.8%.