LankaPropertyWeb Sees Traffic Gain as Sri Lankan Market Rebounds

February 17, 2021
Share this Post: 

It seems that it's not only mature markets that are seeing a rebound in house-hunting, market-leading Sri Lankan property portal LankaPropertyWeb today released a statement reporting a year-on-year traffic increase for January of 23% with corresponding leads sent to agents up 20%. According to the press release, the upwardly trending traffic is not restricted to only one site as secondary portal House.lk, which LankaPropertyWeb acquired from Lamudi in 2018, also saw a 26% jump in visits in January.

The report went on to cite returning confidence in the market, record low home loans and the re-opening of tourism in Sri Lanka as reasons for the renewed optimism in the country's housing market. The portal also claims that only 8% of its 63,250 advertisers had reduced advertised prices during 2020, with an average reduction of 11%.

Many other portals in mature markets around the world have reported seeing signs of recovery in their housing markets. Rightmove recorded record traffic for January, and Zillow has seen its stock price surge as Americans flock online to find a new place to live in 2021. Even for relatively harder hit companies such as Adevinta and Lifull, their outlook for traffic in 2021 is sanguine.

As a portal that has traditionally targeted ex-pats and is now increasingly looking to target and monetise domestic traffic in a maturing market, Frontier Digital Ventures-backed LankaPropertyWeb will be hoping that the early signs from 2021 accelerate the Sri Lankan property market's path to maturity.

February 17, 2021
Edmund got to know the world of portals and marketplaces working at Mitula Group (which became Lifull Connect after the buyout in 2018). He worked directly with hundreds of portals across the world in his role in the content department for three and a half years before transferring to the SEO department to understand the inner workings of listings sites. He joined Online Marketplaces as Head of Content in March 2020.

Subscribe to our mailing list to get news updates!

Enter your email address and get updates from Online Marketplaces.

Related News

Zumper Movoto Deal
US Portal Operators OJO Labs and Zumper Sign Listings Deal

The US real estate portal operator OJO Labs has announced that it has signed a listings partnership deal with rental...

Read More
Women In Tech Rea And Zoopla
REA Group and Zoopla Backing Women in Tech Initiatives

Both leading Australian portal operator REA Group and British property portal Zoopla have today announced measures to back women in...

Read More
Alma Media House Symmetry
Alma Media Q3 Figures Show a Healthy Company as Stock Trades at Record High

Alma Media, the operator of Finland's two largest real estate marketplaces, has released figures from its Q3 that show record...

Read More
Ke Holdings Layoffs
KE Holdings Lays Off Staff As Chinese Market Cools

KE Holdings, the operator of China's largest real estate marketplace and brokerage Beike, has laid off workers in Shanghai according...

Read More

Popular News