Realtors slash ad spends by over 50% as sales plunge

Mumbai: The real estate sector, one of the biggest ad spenders during festival season, has slashed its ad budget by over 50 per cent as the sector is facing slowdown in demand due to various reasons including tight liquidity situation.

According to advertising industry experts, the real estate sector which is grappling with liquidity issues and large inventories since demonetisation in November 2016, has massively reduced their ad spends on TV and print media, and have moved a potion of their ad spend to the digital space to cut cost. Realty sector has been sluggish since the last two years and deepening general slowdown has only exasperated it, media and digital marketing communications company Dentsu Aegis Network chief executive for Asia Pacific Ashish Bhasin told PTI.

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