In many ways, the Internet is like the housing market. There are expensive areas and more affordable areas. There are regions that have an established history and there are newer developments. There are people who buy up anything they can, speculating on investments they hope will increase in value; and there are those who wait and search until they find the perfect spot for them.
In the Internet world, the ‘property’ that buyers vie for are domain names. And unlike the Melbourne property market, there’s plenty of opportunity still out there for first time buyers and long-term investors alike to snap up some valuable online property.
One reason property in the domain name market hasn’t just run out is that new ‘neighborhoods’ have sprung up to provide more choice and availability.
Since 2012, over 500 new Top-Level Domains (TLDs) have been added to the Internet, providing alternatives to the legacy spaces of .com and .net. For example, you can register your restaurant under .menu, your car dealership under .luxury or your local business under .melbourne or .sydney.
And unlike some of the older namespaces that have been around since the early days of the internet, there aren’t already millions of registrations in these newer neighborhoods – so the chances of getting the exact property you want is much, much higher.
Location, location, location
Domain names for local cities and regions are one of the main types of new internet real estate. Both Melbourne and Sydney launched their own namespaces, allowing local residents and businesses to align themselves with their cities and target local customers.
.melbourne and .sydney, along with the likes of .london, .berlin and .nyc are TLDs built specifically for local businesses and residents, giving you the chance to be part of an online community and use your location as a major selling point.
So far more than 8,000 businesses and individuals in Victoria have claimed a piece of Melbourne’s online real estate, from restaurants to non-profits to tech startups and everything in between. You can check out some of our favourites on the showcase.
The hottest properties in the domain name world are premium names. These names, which include generic keywords, single-letter addresses and industry verticals, can attract prices anywhere from a few hundred dollars to a few million.
Some of the highest recorded sales in history include lasvegas.com (sold for $90 million), carinsurance.com ($49.7 million), and privatejet.com ($30.18 million).
Premium domains are the mansions and estates of the domain name market: high value, increased rarity and always a target for investors. A great keyword domain could be the perfect investment to get your business in the prime position to be seen by customers.
Room for speculation
As with any new or developing market, those who get in first have the upper hand. As newer TLDs still have a huge volume of great names available, there’s an opportunity to snap up the best names and stay ahead of the game.
While some speculators buy domains for investment purposes, many take the chance to be the first to ‘move in’: setting up websites quickly and marketing themselves under their new address. Showing that your brand lives at the newest place on the block is one way to gain a reputation as a tech-savvy, innovative industry leader.
Just like bricks-and-mortar, online real estate makes a big difference to a brand. It’s vital you can be easily found and that your address won’t lead customers astray. Find your .melbourne domain name now to ensure you find the perfect home online.