[photopress:property_baidu.jpg,full,alignright]There is almost no commodity more suited to the Internet than private real estate. There is almost no area of the Internet which more threatens newspapers and magazines. The ability to be able to search by area, size, price what ever and then see pictures of the property — with video coming along very quickly — means that property hunting becomes a pleasure instead of a dreary trudge through newspaper columns.
Chinese leading Internet portals like SINA, NetEase.com and Baidu.com have successively started moving into the online real estate field.
SINA announced in February that it would spin off its real estate and home decoration channels to set up a joint venture with real estate service provider E-House.
The joint venture will operate SINA’s real estate and home decoration channels and will team up with E-House China to explore new revenue modes. Basically this will be done through a proprietary real estate information database and analysis system, China Real Estate Information Circle system, which contains transaction data on land, residences, offices, as well as commercial buildings in 30 major cities in the country.
NetEase is doing something similar. It has established a strategic partnership with Nettop.cn on real estate and home decoration online advertising segments.
Nettop will be responsible for the content construction and advertising operation of NetEase’s real estate and home decoration channels.
Baidu announced in February that it, too, was moving into the area of real estate online advertising.
When it comes to buying propery Internet users, which is biased towards 25- to 35-year old users, are a strong potential house buying group.
Real estate online advertising has been leaping in recent years. From January to October 2007 it increased at a pace of 65.4%. And it does not seem to be slowing down.
Source: Trading Markets