PropertyGuru Group recently hit a major milestone with more than 1 million downloads for its mobile apps in its core markets of Singapore, Malaysia, Indonesia and Thailand. The company says that the achievement is unrivalled by any other property portal in the region and affirms the Group’s strategy of pioneering mobile property search in the area.
Designed for both property agents and seekers, PropertyGuru’s suite of mobile apps were conceived in response to emerging shifts in consumer behaviour towards adopting mobile as a form of intuitive property searching in South-East Asia.
In the Singapore context, the growth of online queries for property is consistent with an emerging property culture. According to the recent Singapore Conversation Survey which reflects the key priorities for Singaporeans today, public housing is highlighted as one of the top three issues Singaporeans feel strongly about. Delving deeper, the prospect of owning a property ranks as the most important concern Singaporeans have, especially among those earning below $7000 monthly.
This obsession for property, together with aggressive smartphone adoption, has resulted in a staggering 70% growth in real estate searches originating from a mobile device as compared to 3 years ago. On PropertyGuru.com.sg, mobile property searches alone account for more than half of all visits, with property seekers viewing an average of 20 million pages monthly.
Chief Executive Officer and Group Co-founder, Steve Melhuish explained, “We are excited to see so much interest and enthusiasm we’ve received from property agents, buyers and investors alike who utilise our products and services to explore how they can carry out their property-related decisions faster while on the go."
“PropertyGuru foresaw the enormous potential in investing into mobile technology back in 2011 when 20% of consumers in our target markets were finding their ideal property on mobile. This figure has doubled within two years, opening up fantastic opportunities for PropertyGuru to be even more connected with them.”
The rise of mobile is even more pronounced in countries with developing property markets. Collectively, PropertyGuru saw 12 times the number of downloads for its mobile apps in Malaysia, Thailand and Indonesia within a one year period since July 2012, equating to almost 1400 downloads per day.
“Growth in downloads for PropertyGuru’s mobile apps can be attributed to the overall spike in smart phone usage in the region, with the property segment benefitting from the trend. With property buying and investing still ranks as the most important decisions one has to make in life, property seekers want to be updated on the latest market developments to avoid missing out on opportunities to find their dream home,” mentioned Melhuish.
“As consumers spend more time sourcing for property-related information, it sets the stage for property mobile apps to be a vital key in the property search equation, be it through casual property browsing or facilitating a relationship between agent and property seeker.”
Source: PropertyGuru Group
Edited by Gordana Davila