17% Growth for Hungarian Portal Ingatlan in 2021 Results

May 24, 2022
Share this Post: 

Hungarian property portal Ingatlan says it has achieved double-digit growth with the announcement of its 2021’s financial results.

Highlighted figures include net sales of HUF 3.8 billion (EUR 10 million), with a 17% revenue increase over 2020.

“This significant, double-digit growth was supported by the recovery of the real estate market and the rising number of visitors and advertisers. The pandemic has adversely affected the economy, including the real estate market. But the economy has been reactivated and a recovery period started in 2021," commented József Keleti, Chairman of the Board.

Interestingly, Ingatlan says an uptick in the FSBO segment led to 27% of the company’s revenue in 2021, with users foregoing listing agents for a more streamlined sale.

Ingatlan is one of the most dominant one-nation property portals in the world, with an average of more than 3.7 million visitors — a vast majority of the total traffic for Hungarian home-searchers.

Their figures indicate the re-emergence of property markets around the world post-pandemic. Ingatlan says it published more than 620,000 listings in 2021 — by comparison, just 130,000 housing transactions were made in 2020.

Ingatlan was founded in 1997 and is the major property portal in Hungary, with limited competition.

The company made the news last year for its use of Restb.ai, an AI product that tags and categorises real estate images in real-time. Ingatlan says that 90% of its image moderation is now completely automated, with 1 million images processed by restb.ai.

May 24, 2022
Harvey is an experienced property journalist and copywriter. He has written about the property industry since 2015, starting at The Property Franchise Group in the UK, before moving to Spain to work for Spotahome. He has blogged for the private rented sector, ghostwritten for UK property experts and written case studies for franchise owners around the UK. Harvey joined Online Marketplaces as a News Editor in 2022.

Subscribe to our mailing list to get news updates!

Enter your email address and get updates from Online Marketplaces.

Related News

Shutterstock 1814083742 1
Meet 7 PropTechs Transforming the Latin American Real Estate Market

The way that people buy, sell and rent homes is changing fastest in developing markets. Innovative real estate marketplaces are...

Read More
Cribb
Cribb Trialling 'Coach' Service for its Members-Only Platform

Cribb is running a limited-time trial service that lets buyer-sellers access exclusive stock and manage their purchase without an agent....

Read More
Shutterstock 731494345 1
CoStar Unveils 'Listings of the Future' Feature Package

CoStar says it is releasing a new package of features that will save property managers time and generate higher quality...

Read More
Shutterstock 1512498245
Prosus Classifieds See Post Restriction Rebound in FY22 as OLX Brazil Regains Profitability

The internet and classifieds giant Prosus has today disclosed its results for the year ending 31st of March 2022. Highlights...

Read More

Popular News