On October 7, Magicbricks.com, a leading real estate site in India, started to run auctions of new properties on its platform and sold properties with a combined value of $31.3 million U.S. within six hours (Rs.200 crore) for its client, housing developer M3M.
Hybrid real estate agency Purplebricks.co.uk has been told to stop showing two of its TV advertisements by the Advertising Standards Authority (ASA) in the U.K., since it deems them "misleading". The ASA ruled the ads did not make it clear that Purplebricks' fee was payable regardless of whether or not the property sold.
Projepedia.com, a site which was launched in February 2013 by Sinan Turker and Kaan Kayahan to list new houses (apartments) of Turkish property developers, entered the market for renting units in property developments when it launched a new section on the site. It is free to list rental home ads in the new section, which boasts 750 active listings.
Lifull Home’s (at Homes.co.jp) started promoting empty-standing houses and apartments and vacant spaces of municipalities on a dedicated website at Homes.co.jp/akiyabank. The sub-site is currently in beta.
Spanish vacation rental aggregator HundredRooms.com denied newspaper reports that it is in a financial crisis. It released a statement late today, saying it is profitable in all its markets and is hiring new staff.
HundredRooms.com, a Spanish aggregator that searches vacation rental sites such as Airbnb and HomeAway, has laid off half its team and is in danger of closing down, according to a report in national newspaper El Confidencial. Just weeks ago, business magazine Actualidad Económica named it one of the “start-ups with the brightest future” in its Best Start-ups in Spain Awards.
Ufunwow.com (有房喔) is a new figure in the sector. The listings platform, currently operating in the Shanghai market, distinguishes itself with a mixture of tech novelties, such as Big Data, Augmented Reality (AR), Computer Vision and Artificial Intelligence (AI) - to create a “real-time, real-world search engine” that it calls “Saw wat” (搜哇).
Australian rental site Rent.com.au introduced a new premium advertising product for real estate agents that the company says will give agents greater flexibility.
GPlus Media, owned by Japan’s media conglomerate Fuji Sankei Group, launched a global property site called RealEstateWorld.jp to provide information, trends and technology updates on foreign property markets to Japanese citizens. The site is presented in the Japanese language only.
Private equity firm Thomas H. Lee Partners closed its acquisition of a majority stake in the online real estate marketplace Ten-X.