Real estate agencies search for more online opportunities

PUBLISHED : Wednesday, 11 October, 2000, 12:00am
UPDATED : Wednesday, 11 October, 2000, 12:00am

Updated at 4.30pm, Wednesday:
Hundreds of the mainland's real estate agencies and property developers are going online to boost their profiles and look for more business opportunities. Xinhua News Agency reported on Wednesday.

More than 300 Web sites, focussing on real estate and property development, have been set up by various government agencies, real estate firms and venture capital-backed Internet companies.

The online rush by the mainland real estate sector is riding on the back of the recovering real estate industry and the property market.? The mainland property market is expected to sustain a stable 15 per cent annual growth into 2001.

Industry experts from the Real Estate Research and Assessment Centre at Peking University said the mainland real estate sector should make greater efforts to explore the full potential of e-business.

In a report delivered at a recent international seminar, the experts said most property Web sites only take on the traditional role of the middlemen, but online business can contribute much more to traditional property development and marketing.

They called for more interaction between the online set-up and conventional real estate business, citing the Shanghai-based and Beijing-based as the most sophisticated real estate portals.

The Shanghai Web site offers not only an e-commerce platform but also controls more than 250 property exchanges and interior design stores across the city.

The site follows a similar development plan to establish more than 100 outlets offering property exchange and interior design services.



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