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RealAcres gets acquired by iproperty…online real estate portals showing signs of consolidation.

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This year has not been too kind for property market in India as well as globally. The property prices are falling and most of the consumers are sitting on the fence with the hope of that property market will fall further. Various surveys suggest that property transactions have fallen by as much as 50% compared to last year.

In this kind of scenario, the online real estate portals have also seen a sharp fall in their visitors and transactions making their life much harder. Given the circumstance, RealAcres, one of the leading online real estate portals in India has agreed to part with majority stake to Asia’s leading network of property portals, iproperty.com.

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