Companies Boosted Revenues Through Online Sales
Taobao.com and Sina.com recently opened property channels together with several home buying websites that were recently launched in China. Shenzhen based Vanke and R&F Properties have also started to sell properties online. Sina.com held an online property auction with a starting bid of 0 yuan last March 3 and have sold flats totaling 370 million yuan with buyers buying homes with up to 42 percent discounts.
With the constant squeeze on the property market by the government, several real estate developers have gone online in efforts to boost their sales. Although buyers complain that cheating is quite rampant on online property transactions, a number of online real estate websites sales are rising.
Most of the online sales were done through group sales or auctions. The only thing that these real estates sites are concerned of is the consumers complain of online frauds such as incorrect locations and exaggerated quality reports in the top list.
Experts say that consumers should take precautions when buying properties online. Consumers should do some research on the home they are trying to buy rather than buying because of the low price being offered online. Experts say that properties sold for such a low price usually are of lesser quality.