Leading French property portal seloger.com has released its nine month revenue figures, showing a total of €54 million – a one percent increase over the same period in 2008.
seloger.com also recorded 3 million unique visitors for the first time in September this year, up 24 percent from 2.5 million in September 2008. seloger.com states this increase shows users have welcomed upgrades to the portal, which included new search engine functions and a more fluid navigation tool.
seloger.com goes on to say that its iPhone application, launched less than two months ago, is approaching 120,000 downloads.
Roland Tripard, CEO of Group SeLoger.com, said the portal’s positive results reflect stabilisation in the French real estate market:
“Along with other sectors of the economy, the real estate market has experienced a crisis unlike any other in recent times, which has heavily affected real estate agents. Since the month of September, transaction levels in old property have stabilised and the drop in transaction prices is slowing down.
The one percent growth in revenues over the first nine months of the year 2009 mirrors this market condition, and explains the refocusing of real estate agent communication budgets towards the most efficient Internet supports.”
seloger.com states it will reach its 2009 targets of revenues between €70 million and €73 million, and EBITDA of between €35 million and €37 million.