Property investors from Southeast Asia and Australia are set to benefit as a result of a new partnership between to market-leading property companies.
Australia’s Domain Group and Southeast Asia’s PropertyGuru Group have signed a strategic agreement that will connect property investors in Southeast Asia interested in the Australian residential and commercial property markets to Domain.com.au and CommercialRealEstate.com.au.
This will make Domain’s 400,000 residential and commercial property listings available to the 10 million property buyers that use PropertyGuru’s websites, and at the same time Domain Group will provide Australian buyers interested in Southeast Asian properties with access to PropertyGuru’s more than one million property listings from its key markets in Singapore, Malaysia, Indonesia and Thailand.
The partnership comes at a time when interest from Asian buyers in Australian property is growing strongly. According to PropertyGuru’s Property Sentiment Survey conducted in H1 2014, Australia consistently ranks as one of the top three overseas destinations for property investment.
Domain Group Chief Operating Officer Tony Blamey said: “Both PropertyGuru and Domain Group have been active in forging strong industry partnerships to bring more property choices for property seekers. Through this collaboration, we will be able to combine our resources and achieve even more impressive results for the benefit of consumers and the real estate business.”
“We will continue to explore opportunities to exploit synergies in our broad range of real estate media, data and software services to real estate agents, corporate clients and consumers in Australia and Southeast Asia.”
Steve Melhuish, Chief Executive Officer and Co-Founder of PropertyGuru Group, said, “PropertyGuru and Domain have a shared vision and commitment towards empowering consumers while bringing benefits to real estate advertisers in the long run.
“By working together, we will be not only able to provide more value to home buyers, sellers, and investors, but also create robust initiatives that will allow our clients to connect with potential clients, and grow their businesses even more rapidly.”