Real estate deck research google & zinnov

Google Confidential and Proprietary

Organized Real Estate Market in India will
double by 2017
$140 Bn
2013 2017
$79 Bn
+2x
75%
Residential
25%
Commercial
Source: FICCI-EY Indian Real Estate Report 2013

Market will be deeply impacted by increasing
internet adoption in India
•  Estimate Impact of internet on
growing real estate market
•  Understand consumer
behavior in pre purchase
phase
Residential buying Residential renting Commercial renting
15 cities
Study Objective
6196 respondents

53%of real estate transactions are inﬂuenced by internet today
$43BillionSource: Zinnov research

6"
Top Information Sources
for Real Estate Research*
Survey Question: Which of the following information sources you refer to for research on real estate? (
Print
TV
*Indicates selection of the media in Top 3 choices for research
53% respondents choose internet
among the Top 3 medium for real estate
research
24% of respondents choose
internet as their first choice for real estate
research
54%
Referrals 50%
27%
Sales/
Broker
Office
Visits
52%
Out of
Home
Ads
25%
53%Internet
Internet is a key influencer in real estate research…
Source: Zinnov research

7"Note: 1Calculated on the basis of unbiased survey sample (n=1519); 2FICCI Report - September 2013
USD 43 Bn
Total Real Estate Market
Influenced By internet
% Real Estate Market Influenced by Internet1
- By Value- By Volume Indian Real Estate
market Size2 (INR)
USD 31 BnUSD 59Bn
Residential
Real Estate : 52% 52%
USD 12 Bn
USD 20
Bn
Commercial
Real Estate : 59% 63%
%age respondents
choosing internet
as top medium for
research
%age value of properties
sought by respondents
choosing internet as top
research medium
Impact of Internet equally significant in
commercial and residential sectors

Consumers are getting more reliant on
internet for real estate information search
Source: Google Search Queries
3.0x
1 in 2 are searching to buy property
0
0.5
1
1.5
2
2.5
3
3.5
Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013
Indexed query volumes - Google.co.in

Half of the residential buyers are indifferent to
new or resale property
Residential
Buying
Residential
Renting
0%
20%
40%
60%
80%
74%
26%
By Type of
Real Estate Requirement
Residential Buying Residential Renting
Under
construction
Property
Resale Property
Indifferent
0% 10% 20% 30%
40%
50%
30%
23%
47%
By Category Of Property
Under Consideration For Buying
Under construction PropertyResale Property
Indifferent

40%
Searches are on Mobile
Mobile is already big :
Mobile queries doubling every year
2x
Source: Google Search Queries

11"
Devices leveraged for real estate research
Device used for online
research
Top Metro Small Metro
Desktop / Laptop 91% 86%
Smartphones 55% 55%
Age Group
25-35
Years
36-45
Years
46-60
Years
60+
Years
Desktop / Laptop 90% 86% 88% 89%
Smartphones 57% 54% 50% 26%
Age Group
Less than INR
25 Lacs
INR 25 Lacs to 5
Cr
More than INR
5 Cr
Desktop / Laptop 90% 85% 91%
Smartphones 54% 67% 69%
Age Group
Less than
INR 5 Lacs
INR 5 Lacs to
21 Lacs
More than
INR 21 Lacs
Desktop / Laptop 90% 88% 85%
Smartphones 37% 56% 69%
Devices used across for online research across
Tier 1 & Tier 2 Devices used across Age groups
Devices used based on annual turnover
Commercial
Devices used based on annual income
Buying and Renting
Survey Question: Which of the following devices do you use for online real estate search?Source: Zinnov research

73%of people using mobile
for real estate
research do it through
an App
App usage is signiﬁcant among mobile users
25 - 35
47.0%
36 - 45
40.1%
46 - 60
12.7%
60+
0.2%
App usage evenly
distributed through
age group 25 - 45
App usage – by age group

Aggregator Websites/Apps are the most preferred
destination for real estate research
Aggregator Websites
62%
Super Broker Website
49%
*Builder/ Developer Web/
microsites
52%
Real Estate Blogs and Forums
45%
Most useful digital assets for online research (excluding web search) - %age of respondents
Survey Question: Which online information medium would you rate as most useful for research? (excluding web search) (n = 4489)
*Applicable only for residential buying respondents (n=1740)Source: Zinnov research

14"
Online Assets Which Researchers Find Most Engaging 1/2
Residential Buying Residential Renting Commercial Renting
59%
Websites of aggregators (such as 99acres.com,
magicbricks.com etc.)
52% Builder/ developer's own website/ project microsites
47% Brokers/ agents website (proptiger, superhomes, etc.)
33% Blogs/review forums
31% Online advertisements
22% Property and related videos
60%
magicbricks.com etc.)
51% Website of the brokers/ agents
70%
magicbricks.com, etc.)
48% Website of the brokers/ agents
Survey Question: Which online information medium would you rate as most useful for research?

15"
Online Assets Which Researchers Find Most Engaging 2/2
Top Metro Small Metro Top Metro Small Metro Top Metro Small Metro
Awareness /
Research Stage
Evaluation
Stage
Awareness /
Research Stage
Evaluation
Stage
Awareness /
Research Stage
Evaluation
Stage
Website of aggregators
Builder / Developer Websites
Brokers / Agents website
Online Advertisements
Blogs / Review Forums
Property and related videos
Brokers / Agents websites
Brokers / Agents websites
Builder / Developer Websites
Survey Question: Which online information medium would you rate as most useful for research?
62%
54%
47%
29%
37%
19%
56%
49%
47%
37%
24%
25%
64%
50%
56%
48%
30%
56%
60%
45%
40%
29%
64%
52%
57%
43%
31%
56%
59%
45%
45%
28%
55%
51%
45%
34%
29%
22%
63%
52%
48%
32%
32%
21%
65%
42%
47%
30%
37%
75%
53%
46%
48%
32%
74%
50%
43%
41%
35%
67%
45%
50%
38%
33%

In depth property information and price comparison
are key reasons for consumers researching online
Easy access to in-depth
property information
and market trends
Ease of comparison/
Large variety of option
Financing and document
processing information
60%
52% 49%
43%
Easy access to contact details
of owners, developer etc.
Top Reasons
For
Online Research

17"
Key Reasons for Online Real Estate Research 1/2
Survey Question: What are the key reasons for using online mediums for real estate related information/ research?
61%
Easy access to market trends and in-depth property
information
52% Large variety of options/ease of comparison
49% Easy access to contact details (Broker, developer etc.)
41%
Easy access to ﬁnancing and document processing
information
31% Access to reviews and blogs
18% Options to book property online
60%$
Easy"access"to"market"trends"and"in5depth"property"
informa9on"
55%$ Large"variety"of"op9ons/ease"of"comparison3"
52%$ Easy"access"to"contact"details"(Broker,"developer"etc.)"
43%$ Easy"access"to"document"processing"informa9on"
32%$ Access"to"reviews"and"blogs"
16%$ Op9ons"to"book"property"online"
57%
Easy access to market trends and in-depth property
information
49% Large variety of options/ease of comparison
49%
Easy access to ﬁnancing and document processing
information
46% Easy access to contact details (Broker, developer etc.)
28% Access to reviews and blogs
21% Options to book property online

18"
Awareness /
Research Stage
Evaluation
Stage
Awareness /
Research Stage
Evaluation
Stage
Awareness /
Research Stage
Evaluation
Stage
Easy access to market trends
Large variety of options
Easy access to ﬁnancing information
Access to reviews and blogs
Options to book property online
60%
45%
48%
46%
25%
21%
53%
52%
45%
53%
32%
20%
58%
52%
50%
46%
36%
15%
63%
58%
53%
39%
29%
18%
58%
53%
48%
39%
33%
18%
65%
50%
49%
43%
28%
18%
Key Reasons for Online Real Estate Research 2/2
Survey Question: What are the key reasons for using online mediums for real estate related information/ research?
65%
59%
51%
39%
31%
16%
58%
44%
45%
43%
30%
20%
60%
60%
52%
39%
32%
18%
61%
49%
52%
46%
33%
15%
62%
53%
46%
49%
27%
23%
51%
44%
42%
50%
35%
18%

19"
Key Challenges Faced by Users while Researching Online 1/2
59% Unavailability of owner contacts / Imposters
52% Incorrect/outdated information
47% Relevant portals/ websites are diﬃcult to identify
37%
Unavailability of information (such as locality,
amenities etc.)
33%
Leakage of Personal Information (such as name,
contact number etc.)
15% Diﬃcult to navigate through information
51% Unavailability of owner contacts / Imposters
59%
42%
amenities etc.)
37%
amenities, neighboring occupants, legal status etc.)
37%
Unavailability of owner contacts / Imposters (brokers
pretending as individuals)
35%
31% Low availability of commercial rental posts
28% Lack of human/personal connect
Survey Question: What are the challenges with respect to online research for real estate?Source: Zinnov research

20"
Key Challenges Faced by Users while Researching Online 2/2
Awareness /
Research Stage
Evaluation
Stage
Awareness /
Research Stage
Evaluation
Stage
Awareness /
Research Stage
Evaluation
Stage
Survey Question: What are the challenges with respect to online research for real estate?
Unavailability of owner contacts
Incorrect / Outdated Information
Difficult to Identify Relevant portals /
websites
Unavailability of information
Leakage of Personal Information
Difficult to navigate through
information
websites
information
Low availability of commercial rental
posts
Incorrect / outdated information
Lack of human/personal connect
Difficult to identify relevant portals / websites
Difficult to navigate through information
websites
information
websites
information
Low availability of commercial rental
posts
Incorrect / outdated information
Lack of human/personal connect
Difficult to identify relevant portals / websites
Difficult to navigate through information
59%
56%
43%
40%
35%
16%
58%
51%
44%
37%
35%
13%
59%
47%
50%
34%
30%
13%
56%
42%
43%
43%
50%
27%
46%
57%
43%
41%
30%
31%
59%
53%
49%
37%
30%
16%
52%
49%
43%
41%
42%
30%
50%
50%
43%
43%
39%
27%
21%
32%
33%
40%
25%
21%
26%
31%
22%
41%
40%
31%
37%
34%
30%
28%
20%
38%
34%
42%
27%
27%
30%
29%
23%
36%
39%
29%
35%
28%
26%
30%

Accuracy of contact
details of owners/
builders
Ease of
price comparison
Availability of in-depth
property information
High perceived gap by consumers across aggregator
and developer sites in fulﬁlling their need
Developers Online Brokers Aggregators

22"
Consumer expectations for residential buying
Developers Brokers Aggregators
54%
Accurate Price/feature comparison ( with other
available options)
51%
Up to date information (such as pricing, construction
progress etc.)
33% Verified brokers/agents contact details
32% Up to date Maps/floor plans/site plans
28% Updated financing information
25% Mobile friendly websites/mobile apps
23% Up to date Property videos/pictures
15% Online expert chat options
57%
available options)
47% Accurate information on buying processes
44% Up to date available properties & information
39% Credible reviews from existing customers
55%$
available options)
52%$
Accurate property details (such as pricing, level of
furnishing, photos, etc.)
41%$ Accurate broker/owner contact details
41%$ Accurate information on buying processes
27%$ Mobile friendly websites/mobile apps
26%$ Up to date Maps/floor plans/site plans
17%$ Online expert chat options
Survey Question: What are your top expectations from aggregators /brokers/owners/developers regarding their online presence?

23"
Consumer expectations for residential renting
Brokers Aggregators
62% Accurate Price/feature comparison ( with other available options)
40% Credible reviews from existing customers
41% Provide information on renting processes
53% Accurate property details (such as pricing, level of furnishing, photos, etc.)
46% Accurate information on renting processes
29% Up to date broker/owner contact details

24"
Consumer expectations for commercial renting
Brokers Aggregators
34% Highlight experience through previous projects/ customer testimonials
33% Publish photos and videos of available properties
31% Provide information on leasing processes
25% Quick reverts on call back requests
45%
Accurate/Validated property details (such as pricing, level of furnishing, photos,
etc.)
37%
Relevant posting based on vertical speciﬁc requirements e.g. retail,
manufacturing, auto
27% Highlight broker experience through previous projects/ customer testimonials
24% Up to date broker/owner contact details
22% Provide information on leasing processes

How big is the impact of internet
on real estate ?

Consumers contributing to 89% of real estate
business by value are online today
11%
89%
Real estate Value Share (%)
Transaction by
< 5L INR Household
Income
Transaction by
> 5L INR Household
Income
The target audience is already online

55%
19%
2%
40%
50%
15%
5%
29%
44%
0%
3%
38%
Less than INR 5 Lacs INR 5 Lacs to 21 Lacs More than INR 21 Lacs
Less than INR 25 Lacs Between INR 25 Lacs and INR 50 Lacs
Between INR 50 Lacs and INR 1 Crore More than INR 1 Crore
Demand for costlier residential properties is
concentrated among people with annual family income
over 21 Lacs

Top 3 Choices for Real Estate Research:
Print Internet
*Indicates selection of the media in Top 3 choices for research
Survey Question: Which of the following information sources you refer to for research on real estate? (Rank top 5) (n=1519)
Sales broker
or Oﬃce visit
1 in 4 users rate internet as their ﬁrst preferred
destination for real estate research
54% 53% 52%
#"Percentage"of"respondents"ra9ng"print/internet/broker"in"top"3"preference""

57% of Tier 1 buyers influenced by digital
48% of Tier 2 buyers influenced by digital
Influence of internet is as strong for
tier-II consumers as tier-I

30"
Use of internet in real estate research
57%
54%
64%
42%
53% 55%
Residential Buying Residential Renting Comemrcial Renting
Internet at Top 3 – By type of City
Metros Small Metros
45%
49%
56%
52%
Residential Buying
Less than INR
25 Lacs
Between INR
25 Lacs and
INR 50 Lacs
Between INR
50 Lacs and
INR 1 Crore
More than INR
1 Crore
49%
59%
62%
Residential Renting
Less than INR
10,000
Between INR
10,000 and
INR 25,000
More than
INR 25,000
52%
65%
72%
Commercial Renting
Less than INR
50,000
Between INR
50,000 and
INR 250,000
More than
INR 250,000
55%
61%
78%
49%
42%
49%
42% 43%
50%
20%
0%
20%
Internet as Top3 – By Age
25-35 Years 36-45 Years 46-60 Years 60+ Years
49%
59%
50%51% 52%
59%
Internet as Top 3 – By Gender
Female Male
Internet as Top 3 – By Value of Property
Survey Question: Which of the following information sources you refer to for research on real estate?Source: Zinnov research

31"
Use of internet in real estate research
34%
47%
37%
49%
53%
59%61% 63%
70%
Internet at Top 3 – By Education Level
Matriculation and above (but not graduate)
Graduate
Post Graduate
59%
50%
58%
Commercial Renting
In the Current City of
Operations
Outside India
Outside the Current City
of Operations (in India)
46%
50%49%
57%
61%
56%
Residential Buying Residential Renting
Less than INR 5 Lacs INR 5 Lacs to 21 Lacs More than INR 21 Lacs
Internet as Top 3 – By Location preference of property
47%
56%
53% 54%54%
0%
Buying Renting
In the Current City of
Residence
Outside the Current City of
Residence
Not Particular About the
Location
56%
60%
67%
Commercial Renting
Less than INR 25 Lacs INR 25 Lacs to 5 Cr More than INR 5 Cr
Internet$as$Top$3$–$By$Annual$Income$ Internet$as$Top$3$–$By$Annual$Turnover$
Survey Question: Which of the following information sources you refer to for research on real estate?Source: Zinnov research

Indore
51%
Mumbai
66%
Pune
58%
Hyderabad
62%
Chennai
48%
Kolkata
65%
Ahmedabad
47%
New Delhi
57%
Jaipur
51%
Surat
48%
Chandigarh
57%
Nagpur
51%
Kanpur
43% Lucknow
38%
There is a huge consumer base in next 10 cities
already searching for properties online
Top cities searching for real estate:
Pune
Lucknow
Jaipur
Indore
Chandigarh
Coimbatore
Nagpur
Kanpur
Surat
Ahmedabad
Bangalore
52%
Source: Zinnov research, Google search queries
350%
Query Growth
in last 3 Year

What"does"this"mean"for"us"?"

Focus on mobile assets
Online Aggregators & Brokers
Think beyond Tier 1 cities
Build rich and
engaging content
Focus on both primary and
secondary

Develop web &
mobile presence
Oﬀer more
immersive experience online
Build engaging content
Leverage online to
amplify your brand
Builders and Developers

Real estate deck research google & zinnov

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