Fast-growing property portal Lamudi this week celebrates its first birthday, with the global real estate network more than doubling in size in six months.
Lamudi, a leading property website focusing on the emerging markets headquartered in Berlin, grew by 116 percent between April and September this year. Even though the competition over the online property space within the emerging markets has intensified over the years, Lamudi has maintained a leading position within key regions, as the number of listings on the website now totals more than 670,000 properties to buy or rent, spread across 28 countries around the world.
Lamudi was founded on October 13, 2013, by German startup incubator Rocket Internet. The property platform was launched in 16 countries one year ago and has since grown to cover 28 countries across Asia, Africa, the Middle East and Latin America. Today, more than half the property listings from across the Lamudi network come from its Asian websites, namely Pakistan, Bangladesh, Indonesia, the Philippines, Myanmar and Sri Lanka. Additionally, following such growth, Lamudi received $US seven million in investment in April with the aim to grow its operations in Asia.
Led by Co-Founders Paul Philipp Hermann, Kian Moini and Antonius Salis, Lamudi has undergone significant expansion in each of its markets over the past year. In Latin America, Lamudi Mexico has seen the number of listings on its website increase six-fold over the past year as well as cement its leading role in Asia’s property market.
Global Co-Founder and Managing Director, Paul Philipp Hermann, said: “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. In all those markets we want to establish Lamudi as the market leader!”
Kian Moini, Global Co-Founder and Managing Director, adds: “Lamudi is innovative because we tackle markets that other property portals have so far ignored. We expect Lamudi’s growth spurt to continue for the remainder of 2014, and beyond.It is for this reason that we believe our product has resonated so strongly with property-seekers around the world.”