PropertyGuru recently launched its Property Outlook Report H2 2014, a follow-up to the website's inaugural property outlook eBook in Jan. It aimed to give a snapshot of what happened in the property market in the first half of the year as well as give a forecast on what to expect in the next 5-6 months.
Key talking points in the eBook include:
• Current downward trends on declining prices and transactions will continue into the second half of 2014, with prices dropping at an even faster rate. PropertyGuru has identified 7 key factors that contributed to this deduction.
• The predicted prices on both HDB resale and Private Condo will end the year with a 8-11 percent decline year-on-year. Transaction volumes for HDB resale will be down by about 15-20 percent, and Private Condo by about 60 percent.
• 2 out of 3 consumers surveyed felt that some of the cooling measures should be eased. Of the remaining survey participants, “stabilize price”, “make properties more affordable” and “ensure Singapore property market remains healthy” were reasons cited by 76 percent, 60 percent and 56 percent respectively, as their reasons to support the Government’s decision not to relax cooling measures.
The eBook report is available for download from www.propertyguru.com.sg/propertyoutlook2014 for readers to download.
About PropertyGuru Group
PropertyGuru Group is Asia’s leading online property portal group used by almost 11 million property buyers, viewing over 91 million property pages and generating over 350,000 enquiries for real estate developer and agent advertisers – every month – across Singapore, Malaysia, Indonesia and Thailand. The Group has developed and launched 16 mobile applications in four countries and three languages. At the end of 2013, the Group recorded 1,357,946 downloaded mobile apps, resulting in a slew of three MOBEX awards sweep.
Headquartered in Singapore, PropertyGuru was founded in 2006 by two entrepreneurs with a vision to simplify the property search process and help buyers, sellers and investors make better property decisions faster. Taking advantage of Asia’s growing affluence, property demand and online explosion, the company received its first VC investment funding in 2008 and secured approximately $60m investment in 2012 from Deutsche Telekom, South East Asia’s largest digital investment to date.
PropertyGuru was also the first to integrate its website with social media, first to launch Singapore’s only dedicated
property newspaper – with over 100,000 copies circulated island-wide every month – and it has also developed a
property events platform, with approximately 30 shows held annually across four countries, addressing 30,000
potential property buyers on the ground.
For more queries, contact:
Harris Lim
Hill+Knowlton Strategies
6319 3329
harris.lim@hkstrategies.com
Rachel Lim
Hill+Knowlton Strategies
6390 3315
rachel.lim@hkstrategies.com