Who rules in The Land of the Blue Dragon?
My analysis of the Southeast Asian property portal market is coming to an end! After Singapore, Thailand, Malaysia, Indonesia and Philippines, my final destination is going to be Vietnam. Let’s go for it, traffic estimations from Similarweb as always:
I’ve found a very interesting and complex market to analyze, where I might have missed some important players. Nevertheless I can tell the property portals leader is Batdongsan.com.vn, with more than 6 million visits per month, the highest I’ve seen so far for a portal in Southeast Asia. Although I believe it’s also like a real estate news site. It was bought by PropertyGuru in 2016 and seems to be far ahead from the rest of the competition.
In a clear 2nd position we have the classic looking and probably local friendly Alonhadat. Behind them several local portals and I would highlight Homedy.com, because of their more modern look and feel.
I would say that the property market leader in Vietnam is Chotot, huge classifieds site with more than 16 million visits per month, ranking very high for property searches and investing heavily in Google Ads.
Let’s check how competitive is the market in organic search looking at the search metrics for the main players:
As expected Batdongsan has the strongest metrics although they don’t rely so much in search, approximately 50% of their traffic comes from organic search and they have a 40% of direct traffic. From the rest quite a mix with not so much coherence like in other markets.
In general, I have the feeling it’s a complicated market but also a very interesting one with volumes that I’m pretty sure will make worth entering. Right now the leader is a classifieds site, but we know that verticals should end up taking over when the market becomes more mature.
That’s all. Have I missed any relevant player? Please let me know!