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PropertyGuru reports outstanding 2011 growth

Top property portal in Asia ncreases market leadership in region.

 
PRLog - Jan. 11, 2012 - NOVENA, Singapore -- Singapore, 10th January, 2012 - PropertyGuru, Asia's leading property portal group, announced record results for 2011 and extended its market leadership position in its core markets. Revenue grew over 60 percent year on year, with the second half of the year growing almost 50 percent more than the first half. Traffic grew by more than 50 percent, with almost six million visitors viewing over 55 million property pages and generating 70,000 online enquiries for advertisers per month by the end of 2011. Real estate agent subscribers also continued to grow rapidly with almost 50 percent increase, reaching over 16,800 at the end of last month.

Singapore:

PropertyGuru's traffic grew an impressive 35 percent in Singapore which further increased the Company's dominance during 2011 (source: Experian Hitwise, Google AdPlanner and Effective Measure) and PropertyGuru.com.sg became a top 20 website in Singapore (source: Alexa.com). According to the latest Experian Hitwise statistics, PropertyGuru's www.PropertyGuru.com.sg and www.CommercialGuru.com.sg now account for more page views than all other property related websites combined.

As savvy investors increasingly moved into commercial property in 2011, www.CommercialGuru.com.sg, Singapore's leading commercial property portal, experienced a 500 percent increase in traffic and listings grew to just under 18,000. Today, CommercialGuru is used by more than 140,000 business users and investors viewing almost two million pages monthly, with almost 15 percent derived from overseas users.

The company's www.LoanGuru.com.sg online mortgage business doubled its revenue with close to S$60 million of home loan approvals processed monthly at the peak of last year.

Malaysia:

Traffic to PropertyGuru Group's www.HomeGuru.com.my website grew four-fold and it became a top 100 website in Malaysia, significantly narrowing the gap with the market leader (source: Alexa.com). Supporting this growth was a successful multi-million dollar brand-building campaign, which included high impact exposure on taxis in Kuala Lumpur, Johor Bahru and Penang, full wrapped buses, targeted events, focussed online marketing efforts, sustained advertising and property supplements in the Malay Mail and The Malaysian Reserve newspapers as well as sponsorship of Bernama News TV - with support from our JV partner Redberry Media.

PropertyGuru was also the first to launch the iPhone and iPad applications for real estate agents in Malaysia in September. The Company also saw significant growth in its paid agent member base over the year and launched the ‘first-of-its-kind' Malaysian quarterly property sentiment survey in April, which saw widespread press coverage.

Thailand:

In Thailand, PropertyGuru increased its dominant position with traffic to its www.DDproperty.com website growing almost five-fold to 1.4 million visitors viewing eight million property pages (source: Google Analytics). The company also received strong media attention with newspaper and TV coverage over the last six months, which further helped establish DDproperty as the number one property site.

Indonesia:

PropertyGuru's www.Rumah.com extended its market leadership position according to Alexa.com. It's now one of the top 150 websites and climbing with a 250 percent growth in traffic over the year (source: Google Analytics) and close to double the number of visitors of its nearest competitor (source: Google AdPlanner). The company secured a number of major advertising contracts with real estate developers and two of the country's leading banks, CIMB Niaga and BII. Supporting this rapid growth was the launch of a new website in August last year, as well as the development of Indonesia's first Blackberry property application last month.

Regional Expansion:

Over the past twelve months, PropertyGuru Group increased its presence to 10 Asian countries (directly and via partners) which included acquisitions in Malaysia, Thailand and Indonesia as well as new partnerships with Batdongsan.com and SouFun-leading property portals in Vietnam and China. In addition, the Company announced an exclusive regional partnership with Yahoo! earlier this year which brings property content to Yahoo!'s 17 million unique visitors and further supports PropertyGuru's brand and traffic growth in the region, as well as incremental revenue for both parties.

Innovation Focus:

Key to PropertyGuru's growth has always been "innovation" and 2011 was no exception with a doubling of product and web development ‘gurus', development of new websites in three countries and the launching of new iPhone, Android and Blackberry mobile applications across the region for property seekers and real estate agents - with over 250,000 applications downloaded to date.

The PropertyGuru Group launched Singapore's first and only dedicated property newspaper, "The PropertyGuru" in November. The free tabloid is available fortnightly in Singapore's CBD and high footfall locations - with a readership of over 75,000 each month. It provides fresh property news, insights, research, reviews and exclusive interviews focussed on the Singapore and international property markets every fortnight, as well as currently available properties for sale and rent - from real estate agencies, agents and developers.

PropertyGuru Group also continued to hold a number of well attended and innovative property events in 2011- aimed at educating consumers and real estate agents about market trends and bringing selected new properties to targeted buyers. This included the hugely successful "Malaysia Property Showcase" in Singapore last December, which garnered 900 visitors and over MYR 26 million in sales over two days.

Award Winning:

PropertyGuru's growth, market leadership and innovation were recognised last year with the Company picking up six industry awards. These included the Overseas Property Professional Gold Award for "Best Media Brand" and Silver Award for "Best Online Service", Marketing Magazine's "Digital Media of the Year 2011 (Property Category)" in Singapore, the Singapore IT Federation (SiTF) "Best Mobile Application Merit Award", the SME Tiger Award (Gold) as the best "Online Business" in Malaysia and the Red Herring "Top 100 Most Innovative Companies in Asia".

Charitable Support:

PropertyGuru continued its "Gurus Give Back" charitable focus with three key initiatives - 19 ‘gurus' (including the two co-founders) shaving their heads to raise almost S$20,000 for the Children's Cancer Foundation in Singapore, as well as employees, friends and family members donating money for the Japanese earthquake and Thai flood victims.

Steve Melhuish, PropertyGuru Group CEO, said, "We had an incredible 2011. Revenue, traffic and agents all continued to grow rapidly and ahead of expectations. We've increased our market leadership and established ourselves clearly as Asia's leading property portal group, with a presence in 10 countries, directly and via partners. We continued to invest heavily in innovation, launching many new services to help property seekers and our advertiser clients regionally. Thanks to all our ‘gurus' for their incredible dedication, as well as our customers for their continued support. 2012 will be an exciting year for the Business and we will be announcing further new initiatives shortly."

-END-

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PropertyGuru was founded in 2006 as a self-funded company, with a vision to make the property search process a breeze for buyers, sellers and investors. Taking advantage of Asia's growing affluence for property and the online boom, it received its first VC investment funding in 2008. Since then, the company has grown rapidly, reaping profits and positive cash flow in 2009, tripling revenue in 2010.

PropertyGuru is now Asia's leading online property portal, with a presence in 10 countries, including offices in Singapore, Malaysia, Indonesia, Thailand and partnerships with leading property websites in Australia, Hong Kong, India, Vietnam, China and Macau. It has almost 6 million buyers viewing approximately 55 million property pages monthly, with a growing database of 350,000 opted-in buyers and over 19,000 real estate agents.

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Contact Email:
***@allproperty.com.sg
Source:AllProperty Media Pte Ltd
Phone:+65 6238 5971
Zip:308900
City/Town:Novena - Singapore - Singapore
Industry:Property
Tags:propertyguru, traffic, revenue, HomeGuru, commercialguru, singapore, malaysia, thailand, indonesia
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