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Asia’s leading property portal group PropertyGuru has reported a 39 percent increase in cash income on quarter for Q1 2015.
Website visits across its key markets in Singapore, Thailand, Indonesia and Malaysia rose 28 percent during the period from a year ago to 11 million consumer visits and 104 million page views per month.
Based on the data from internet analytics company ComScore, PropertyGuru continues to hold a dominant leadership position in Southeast Asia, particularly in Singapore where it achieved record 92 percent market share in Q1.
The group’s robust financials comes amid a general slowdown across the region’s property markets, and was attributed to its strength in the online segment, with the shift in advertising from traditional to online. The group also highlighted ongoing product innovation as the prime growth driver.
Steve Melhuish, PropertyGuru co-founder and Group CEO said: “We believe that our commitment to continued innovation is the key driver and force behind our success. 2014 was a big year of innovation for PropertyGuru, where the company pushed out eight products and enhancements.”
“2015 is quickly panning out to be yet another exciting year for us, where we are on our way to becoming Singapore’s biggest mortgage hub and deliver even better mobile experiences,” he added.
In 2012, the group secured approximately $60 million investment from Deutsche Telekom, Southeast Asia’s largest digital investment to date.
Written by Romesh Navaratnarajah, Singapore Editor at PropertyGuru.
Nikki De Guzman, Editor at CommercialGuru, edited this story. To contact her about this or other stories email nikki@propertyguru.com.sg
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