Magicbricks App Clocks 10 Million Downloads

The Indian property portal Magicbricks has reported that its mobile application has registered 10 million downloads and is the fastest-growing real estate application in the country. Launched in 2011, the app has some 1.65 million property listings and features an EMI calculator, home loans market, real-time chat as well as a host of ancillary services including property astrology. Speaking about his company’s progress with mobile apps, Magicbricks CEO Sudhir Pai said:

“It is heartening to see over 10 million app users connect with landlords, sellers, brokers and developers who can help them meet their property needs. Our goal over the past decade has been to empower both property-seekers and sellers with cutting-edge analytics that help shape these crucial property-related decisions at their end”

As we found out from Elara Technologies Group COO Mani Rangarajan at Property Portal Watch, the country’s property hunters are increasingly looking online for their next home giving players in the market some real room for expansion. According to the press release from Magicbricks today, 70% of india’s home buyers are now active online, and 80% of available homes are posted online.