PropertyGuru Launches First Singapore One-Stop-Shop Real Estate Auctions Service Online

PR Log (Press Release) – Sep 10, 2009 – Singapore’s leading property website, www.PropertyGuru.com.sg, has teamed up with the top auction providers in Singapore to launch a one-stop-shop Real Estate Auctions service (www.PropertyGuru.com.sg/auctions). The new service brings together the main real estate auctions and auction-properties into one place to make it simpler for buyers to identify bargains and plan attendance at upcoming events.

To date, leading auction houses including DTZ and Knight Frank have signed up for this service. Their auctions and auction properties will be promoted to PropertyGuru’s 1.1 million users every month, and included within monthly newsletters sent to over 50,000 registered homebuyers.

The new service will benefit both the ‘hardened property investors’ as well as ‘auction virgins’. Buyers can find auctions by date and review individual properties (with photos, maps, descriptions and indicative or asking price) being sold off in upcoming auctions. It also aims to demystify the auctions process through useful guides and articles.

“As one of Singapore’s leading auction providers, Knight Frank is pleased to be collaborating with PropertyGuru on this new initiative to reach out to a wider network of property buyers and sellers,” said Mary Sai, Executive Director of Auction Department, Knight Frank.

Shaun Poh, Senior Director, Investment Advisory Services & Auction, DTZ also agreed, saying, “As one of Singapore’s leading auction providers, DTZ is pleased to be collaborating with PropertyGuru on this new initiative.”

Key benefits are expected to be:
•   For Auction Providers and Sellers - Increased exposure resulting in more attendees, increased bids and sales as well as higher prices.
•   For buyers - Increased awareness of auctions, auction properties, key

auctioneers, auction locations and processes make it faster and simpler to secure bargains.

"We recognize that auctions are a highly effective medium for buying property in Singapore. With our new auctions service, we plan to increase exposure and sales for the auction houses and at the same time demystify what appears to be an intimidating process for first time auction attendees,” said Steve Melhuish, Co-founder of PropertyGuru.

The auctions service is available at www.PropertyGuru.com.sg/Auctions