99acres.com Goes International.. Partners With US Centric SecondSpace.com
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99acres and Secondspace are two real estate listings site in their respective markets i.e. India and US. Secondspace caters to the ever growing trend of second homes and leisure retreats in the western markets. The company’s other sites include ResortScape.com and LandWatch.com.
According to the release 99acres and Secondspace have entered into an agreement to share their respective database of real estate listings on each others sites. Under this agreement 99acres.com will contribute over 60,000 listings across India into the SecondSpace Network and in return 99acres.com will receive property listings of countries including Canada, USA, Australia, UK. The benefit for both parties is increased listings and variety for their users and ofcourse traffic sharing and visibility.
On the occasion Vineet K. Singh, Business Head, 99acres.com said, “The real estate market in India continues to boom, and we see a continued influx of overseas buyers and investors looking for their perfect villa, beachfront escape or luxury residence. Partnering with SecondSpace enables us to showcase our range of vacation properties, homesites, in-city condos and apartments to affluent buyers who visit ResortScape.com and LandWatch.com from across the globe.”
On the whole this seems to be an interesting move given the cross country real estate investments becoming more viable offlate given low US real estate rates and given the lucrative potential in the upcoming real estate opportunities in India. My 60 year old dad who is into real estate (as a hobby) enlighten’s me on the number of Villas, golf courses and real estate projects planned pan India almost daily! Given the overload of information he gives me Im sure that such inventory of real estate in India will require a global audience and 99acres with this partnership aims to go global in the least minimum investment possible. It will be interesting to see if Indiaproperties of ConsimInfo (BharatMatrimony Group) and Makaan.com of People Interactive Group (Shaadi.com) have any answer to this strategy or they still stuck in matrimony war mode.
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Some “insights” about the US property markets:
1. http://www.canadianbusiness.com/my_money/spending/article.jsp?content=20080711_133046_14584&utm_source=business&utm_medium=rss
2. http://www.reuters.com/article/bondsNews/idUSN0158722520080801
3. http://www.reuters.com/article/companyNewsAndPR/idUSWEQ00008120080731
4. I can go on… and on…
No wonder we are watching tie-ups now.
Later, there will be acquisitions. What comes next according to history, will be closures.
Mind Blowing Partnership 99acres with Secondlife.