PropertyGuru Group has announced a 39 percent quarter-on-quarter (q-o-q) increase in cash income for the three months ending March 2015. DDproperty.com is PropertyGuru Group’s market-leading Thailand property website.
The growth is further evidence of the company’s market leadership position through Southeast Asia, as the Group captured a record 92 percent of market share in Singapore and 59 percent in Thailand during Q1 2015, according to ComScore.
The growth in cash income comes despite what has been recognised as a general downward trend throughout most Southeast Asian property markets. For example, real-estate advertisement spend in Singapore during 2014 decreased 13 percent year-on-year (y-o-y) according to research by AC Nielsen. The decline was mainly at the expense of traditional media such as print and television.
PropertyGuru’s strong performance can be partly attributed to this shift from traditional to online advertising 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 in Singapore, Thailand, Indonesia, and Malaysia increased 28 percent y-o-y, reaching a record 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 driver of growth
Steve Melhuish, Chief Executive Officer 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, and as a result we generated more than 500,000 leads for our advertisers each month across all markets; a double digit y-o-y increase.”
Last year was a big year of innovation for PropertyGuru Group as the company introduced eight products and enhancements.
“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,” said Melhuish.
“This year is quickly panning out to be yet another exciting year for us,” he concluded.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
