Asia’s leading property portal group, PropertyGuru, has extended its market leadership position in its core markets, with revenue, agents and traffic continuing to grow rapidly, ahead of expectations.
PropertyGuru’s revenue grew over 60 percent year-on-year, while property agent subscribers continued to grow rapidly, with an almost 50 percent increase, exceeding 16,800 at the end of last month. Traffic also grew by over 50 percent, with nearly six million visitors viewing more than 55 million property pages and generating 70,000 online enquiries for advertisers per month by the end of 2011.
“We had an incredible 2011,” said Steve Melhuish, PropertyGuru’s Group CEO. “Revenue, traffic and agents all continued to grow rapidly and ahead of expectations.”
“We’ve increased our market leadership and established ourselves clearly as Asia’s leading property portal group, with a presence in 10 countries, directly and via partners. We continued to invest heavily in innovation, launching many new services to help property seekers and our advertiser clients regionally,” he said.
According to the latest Experian Hitwise statistics, PropertyGuru’s www.PropertyGuru.com.sg and www.CommercialGuru.com.sg now account for more page views than all other property-related websites combined. Traffic also surged 35 percent for the Singapore websites, further strengthening the company’s dominance during 2011.
CommercialGuru also experienced a 500 percent increase in traffic and listings grew to just under 18,000. Today, CommercialGuru is Singapore’s leading commercial property site, used by over 140,000 business users and investors viewing almost two million pages monthly, with nearly 15 percent derived from overseas users.
In Malaysia, traffic to www.HomeGuru.com.my rose four-fold to make it a top 100 website in Malaysia, significantly narrowing the gap with the market leader. This was fuelled by a successful multi-million dollar branding campaign, including focussed online marketing efforts, sustained advertising property supplements in the Malay Mail and The Malaysian Reserve newspapers, as well as high impact exposure on taxis in Kuala Lumpur, Johor Bahru and Penang.
In addition, PropertyGuru Group increased its presence to 10 Asian countries over the past year, including acquisitions in Malaysia, Thailand and Indonesia, as well as new partnerships with leading portals in Vietnam and China. It also announced an exclusive regional partnership with Yahoo! earlier this year, lending further support to PropertyGuru’s brand and traffic growth in the region.
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