Singapore, 16th July 2012 - Almost 66 units worth close to Pesos 288 million (S$8.6 million) were sold at PropertyGuru’s inaugural Philippines Property Show in Singapore last weekend.
Close to 900 property buyers and investors attended the event which showcased more than 15 developments from across the Philippines. Exhibiting developers also reported additional follow-up leads worth Pesos 1660 million (S$50 million).
Buyers at the event were predominantly Singapore-based professional Filipino workers, but there were also significant numbers of Singaporean buyers and locally-based foreigners with a keen interest in investing in overseas property.
Popular properties included mid-rise condominiums and luxurious beachfront apartments. Developments in Central Manila and Makati City, as well as Boracay beach, Quezon City and Greenfield City were among those that caught the eyes of keen Filipino buyers and investors.
Glenn G. Penaranda, Commercial Counsellor of the Philippines Trade and Investment Center, Embassy of the Philippines, made an opening presentation. He said: “The Philippines Property Show is indeed timely and effective in promoting Philippines properties in Singapore. It has generated interest and provided a venue not only for promoting the fast growing Philippines property market, but also for bringing investments to the Philippines.”
Pinky May attended last weekend’s event at the Orchard Hotel. She said: “This event is really helpful to us who are interested in investing in properties in the Philippines.” Another attendee, Martin Ashoff, added: “These kinds of shows should happen more often.”
The Philippines is experiencing strong GDP growth, estimated at five percent this year, alongside on-going major population growth and rapid urbanisation. Relaxed foreign property ownership rules, low entry prices compared to Singapore and strong rental yields of up to 10 percent were cited as reasons why buyers are taking a keen interest in Philippines properties.
Steve Melhuish, co-founder and CEO of PropertyGuru Group, said: “We were delighted by the strong interest and transactions at our first Philippines Property Show. With almost 1,000 attendees over the weekend and double the expected number of units sold, there's obviously strong demand for overseas property in Singapore. This endorses our focus on holding high quality events across Asia, showcasing property from specific countries.”
The Philippines Property Show is part of PropertyGuru's bi-monthly international event platform, where properties from a specific country are showcased regionally in cities across Asia, supported by a range of informative and educational seminars from key industry players and experts.
Media Contact:
Ms Winnie Khoo
Chief Operating Officer
Contact number: +65 6238 5971
Email: winnie@propertyguru.com.sg
About PropertyGuru:
PropertyGuru was founded in 2006 as a self-funded company, with a vision to make the property search process a breeze for buyers, sellers and investors. Taking advantage of Asia’s growing affluence for property and the online boom, it received its first VC investment funding in 2008. Since then, the company has grown rapidly, reaping profits and positive cashflow in 2009 and doubling revenue growth in 2011.
PropertyGuru is now Asia’s leading online property portal group, with a presence in nine countries, including offices in Singapore, Malaysia, Indonesia, Thailand and partnerships with leading property websites in Australia, Hong Kong, India, Vietnam and China. It has 8.2 million buyers viewing 65 million property pages monthly, over 200,000 mobile applications downloaded and a growing database of over 400,000 opted-in buyers.
PropertyGuru provides an integrated media platform that real estate developers and agencies can use to promote their brands and generate sales leads. The entire PropertyGuru community boasts 400,000 residential and commercial properties and clients include almost 200 prominent developers from Asia, Europe and the Americas, as well as over 19,000 real estate agents in Asia.
PropertyGuru has won multiple awards:
OPP Awards For Excellence 2011 (Gold) “Best Media Brand”
Singapore IT Federation (SITF) Merit Award for “Mobile Application” 2011
OPP Awards For Excellence 2011 (Silver) “Best Online Service”
Singapore IT Federation (SITF) award for “Best E-Enterprise Company 2010”
Red Herring Top 100 Asia Award 2011
Singapore Venture Capital & Private Equity Association (SVCA) award for “Best Performing VC Backed Company 2010”
Marketing Magazine Digital Media of the Year 2011, Singapore Property Category
Marketing Magazine’s “Top Digital Media of the Year 2010” Award
South East Asian SME Tiger Awards 2011 Gold Award – Online Business
CNBC World's “Best Property Portal Award 2009" Award
Hitwise “No.1 Website in the Property Industry” award 2011”
Google Zeitgeist Singapore 9th Fastest Rising Search Term 2009 Award
Asia’s Leading Property Portal Group includes:
www.PropertyGuru.com.sg is used by over 4.6 million consumers viewing 42.8 million pages, generating over 250,000 leads for advertisers every month. PropertyGuru.com.sg is the 2nd largest domestic website in Singapore. It provides real-time access to multimedia-rich content covering property-related products, services, news, advice, guides, tools and the largest online property database in Singapore.
www.CommercialGuru.com.sg was launched in August 2010 and is used by 200,000 business users browsing 2.4 million pages and generating over 50,000 leads for advertisers every month. It is Singapore’s only independent, dedicated commercial and industrial property portal and is the 2nd largest property website in Singapore, behind PropertyGuru.com.sg.
www.LoanGuru.com.sg was launched in January 2010 as an independent online mortgage brokerage, providing real-time access to over 300 mortgage packages from 23 major local and international banks. It generates over 500 loan leads per month.
www.PropertyGuru.com.my is the fastest growing Malaysian property portal set up as part of a joint venture between PropertyGuru Group and Malaysia's RedBerry. PropertyGuru has over 800,000 visitors viewing more than 4 million pages monthly. With over 110,000 listings and 3,500 agents signed up, PropertyGuru gives consumers the platform to find properties for purchase, sale, rental or investment and a direct channel to search for and contact agents. An SME Tiger Award Winner for Online Business (Gold Award), PropertyGuru is designed with the end-user in mind; featuring real-time access to multimedia-rich content, covering property-related products, services, news, advice, guides, tools and a rapidly growing online property database in Malaysia.
www.Rumah.com was founded in 2007 and is Indonesia's top property website, with over 1.2 million visitors viewing over 8 million pages every month. The website lists over 120,000 properties for sale and rent in Indonesia and has a database of 11,000 opted-in members. Rumah.com is an online media campaign that provides the ideal search experience for all types of property: residential, commercial and industrial. It allows sellers and renters to place on its site property advertisements which can be easily viewed by prospective buyers, who can search for property based on location and / or price.
www.DDProperty.com was established in 2007 to help Thai consumers find their desired properties for sale and rent in the fastest and most efficient way. There are over 1.3 million visitors viewing more than 8 million pages every month, making it one of Thailand’s top property portals. DDProperty.com allows users to search for residential and commercial properties and constantly finds new ways to improve its navigation and search capabilities to allow consumers to find their dream property quickly.