Juwai IQI Sees 38% Sales Growth in 2022

February 20, 2023

The pan-Asian real estate marketplace business Juwai IQI has released its results for 2022. The Kuala Lumpur-based company saw a 38% boost in completed transactions compared to 2021.

"In 2022, Juwai IQI completed 42,912 transactions, which is up 38% from the 2021 total of 31,000. By comparison, Juwai IQI's completed 22,000 transactions in 2020," said co-founder and Group CEO Kashif Ansari.

Those transactions accounted for $3.1 billion in real estate sales in the period and Ansari is forecasting a further uptick in sales, especially in its home market.

“The residential market has started to firm up. We believe transaction activity will increase in 2023 by up to 3%. The global environment is one of high inflation, rising interest rates, and lingering supply chain challenges. Malaysia is weathering the difficult global situation in relatively good shape, thanks to high commodity prices, exports, and strong employment.

“Developers tell us they are confident about the 2023 to 2025 period. In the third quarter, developer residential starts and planned new supply both hit their highest levels in at least five quarters. Residential starts soared by 71% from about 18,000 in Q2 to 31,000 in Q3. Meanwhile, developers’ pipelines in terms of new planned supply also jumped 35% to a new high."

Formed through the merger of Juwai and Malaysia-based IQI in 2019, Juwai IQI operates an end-to-end real estate marketplace targeting primarily Chinese buyers and operates Juwai.com (a global property portal available in Chinese) and Juwai.asia (Asia-wide portal for global real estate).

The company's commission-based model relies on real estate agents and Juwai IQI now claims to have a network of over 30,000 real estate professionals in 20 countries around the world.

February 20, 2023
Since March 2020 Edmund's job has been to read about, write about, collect data on, analyse and generally know about real estate marketplaces and the companies that run them. Before that he worked at the aggregator Mitula Group (which became Lifull Connect) for five years.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

fangdd pretty
FangDD Regains Nasdaq Compliance Once Again

Fangdd Network Group Ltd. announced restoration of compliance with the minimum closing bid price requirement for continued listing on the...

Read More
UrbanAptsdotAU 1
Urban.com.au to Rebrand as Apartments.com.au After Acquisition

Urban.com.au has acquired Apartments.com.au in a combined cash-and-equity deal. Urban confirmed it will rebrand to Apartments.com.au in light of the...

Read More
Product Update July4 2
Product and Services Roundup: Cian, DomClick, Kleinanzeigen, Rightmove, iMyanmarHouse

We'll kick off this week's Product and Services Roundup with some nifty tools coming out of two Russian portals...  ...

Read More
People Roundup 4July 3
People Roundup: REA India, Lifull, REA Group, Rightmove

This week's People Roundup starts with a major C-Suite appointment in India...   Asia: REA India confirms new CEO appointment...

Read More

Editor's Pick