SINGAPORE, 11 May 2015 – PropertyGuru Group is pleased to announce a 39% quarter-on-quarter increase in cash income for the three months ended March 2015 (“Q1 2015”), further evidence of the company’s market leadership position in Southeast Asia. The Group captured a record 92% of the market share in Singapore, and 59% in Thailand for Q1 2015 (source: ComScore).
This is despite a general downward trend across the Southeast Asian property markets. For example, real-estate advertisement spent in Singapore for 2014 decreased by 13% on a year-on-year (“Y-o-Y”) basis according to research done by AC Nielsen. This decline was mainly at the expense of traditional media such as print and TV.
PropertyGuru’s strong financial performance can be partly attributed to the shift in advertising from traditional to online mediums. The main driver is its growing strength in the online segment for advertising itself. In tandem to the Group’s market share growth across the region, combined Q1 visits across Singapore, Thailand, Indonesia, and Malaysia increased 28% on a Y-o-Y basis, giving rise to a record achievement of 11 million consumer visits and 104 million page views per month across the four markets. Each market delivered double-digit growth in visits.
INNOVATION: THE PRIME GROWTH DRIVER
Mr Steve Melhuish, CEO and co-founder of PropertyGuru Group said, “We believe that our commitment to continued innovation is the key driver and force behind our success. The Group has been revolutionising the property search experience, and we are now seeing these innovative solutions paying off. By providing better user experience to property seekers, they increasingly turn to PropertyGuru in each of our markets. As a result, we generated more than 500,000 leads to our advertisers per month across all markets; a double digit Y-o-Y increase.”
2014 was a big year of innovation for PropertyGuru, where the company pushed out eight products and enhancements (some main examples represented below).
“We are proud of our financial and traffic performances, as this clearly demonstrates our success and commitment to serve both our advertisers and property seekers. 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,” added Steve.