PropertyGuru income up 39% in Q1

Romesh NavaratnarajahMay 11, 2015

Steve Melhuish

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.

PropertyGuru continues to hold a dominant leadership position in Southeast Asia, especially in Singapore where it achieved record 92 percent market share in Q1, ComScore data shows.

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. Ongoing product innovation was also highlighted as the prime growth driver for the group.

“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,” shared Steve Melhuish, co-founder and Group CEO (pictured).

He added: “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.”

In 2012, the group secured approximately $60 million investment from Deutsche Telekom, South East Asia’s largest digital investment to date.

 

Romesh Navaratnarajah, Singapore Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg

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