Today at the Property Portal Watch Conference in Barcelona we heard from Gilles Blanchard, the Chairman of Zameen, the leading property portal in Pakistan. Pakistan is clearly an early stage country in the property portal world. The country has 190 million people, 30 million internet users and high mobile phone penetration.
However the spend on real estate advertising is low - somewhere less than $100m per year. The good news is that this amount is growing. The online spend is almost zero with Zameen capturing the majority of this online spend. The market does not have many players with OLX the main competitor for Zameen.
A strong team has been built in Pakistan with Zameen employing over 100 people with offices in 4 cities.
The number of customers are growing however the ARPA, from this early stage market, is still low at around US$50 per month.
Traffic is also growing and is currently around 500k UB's per month. Much of that traffic is from outside of Pakistan, reflecting the global Pakistani expat population and their desire to acquire and invest in property in their homeland.
The market does have its challenges.
If you would like to attend the next Property Portal Conference, join us in New York on January 13 - 14 2014.