Apartments for sell.[Photo/Mud]
Online retail site OLX has registered a growth in real estate sector over the last six months.The growth has been attributed to a deliberate focus on the sector, which has seen a number of investors venture online to buy and sell property.
The move has seen the demand for both residential and commercial property rising leading to a sharp increase in the number of those transacting on the website. Real estate is now the second largest sub-category after cars on OLX.
Country Manager Peter Ndiang’ui said the firm hopes to grow this category by double digits to become the leading realtor.
“Out of all property that exchanges hands in Kenya, two per cent find their way online. Many people search for property online. Out of those visiting other major online sites for property, the number of buyers coming to OLX with intent to buy is over 80 per cent. Rival online platforms have recorded over 60 per cent of such transactions,” said Ndiang’ui.
Use desktops Olx says that on average, potential buyers on the site spend 15 minutes, an indication of the depth and variety of content the site has to offer.