A year since its online debut, real estate property portal Lamudi has doubled its business with over half of its property listings coming from Asia.
German startup incubator Rocket Internet founded Lamudi in October 2013 with initial portal networks in 16 countries. The portal now covers 28 countries across Asia, Africa, the Middle East, and Latin America.
It also has more than 670,000 properties to buy or rent, spread in the countries it covers.
More than half of its property listings on Lamudi’s website come from Pakistan, Indonesia, Philippines, Myanmar, Bangladesh, and Sri Lanka.
In April, the portal received $7 million in investment to expand its operations in Asia which resulted in a six-month growth spurt depicted by the 116% growth between April and September this year. It is now the leading property portal in the Philippines and Bangladesh.
Lamudi also now employs 400 staff split between its headquarters in Berlin and local teams in each market led by its co-founders Paul Philipp Hermann, Kian Moini and Antonius Salis.
“Our goal from the very beginning has been to deliver a high-quality property portal in markets where searching for real estate online is a relatively new phenomenon,” Moini said.
“House-hunters in these regions should not be underestimated; as the internet becomes more widespread, they are seeking out the same services that are already commonplace in more established markets. Lamudi is innovative because we tackle markets that other property portals have so far ignored.”
In the Philippines, Lamudi recently hit 130,000 property listings, up from just 10,000 listings last December. The fast growth rate was similar in Indonesia, where Lamudi has opened three offices and grown to host 110,000 listings in just six months. In Sri Lanka, Lamudi has signed more than 200 clients and hit 9,000 listings since May.
Lamudi last June made a global launch of its Android and iOS apps which have been downloaded about 90,000 times.