Australian and South-East Asian property investors will gain insights and access into extensive property investment opportunities in growing overseas markets as a result of a new partnership between Domain Group and PropertyGuru.
Under the agreement, PropertyGuru will connect property investors in South-East Asia interested in Australian residential and commercial property to Domain.com.au and CommercialRealEstate.com.au. This makes Domain’s 400,000 residential and commercial property listings available to the 10 million property buyers that use PropertyGuru’s websites. At the same time, Domain Group will provide Australian buyers interested in South-East Asian properties access to PropertyGuru’s over 1 million property listings from its key markets in Singapore, Malaysia, Indonesia and Thailand.
The strategic partnership comes at a time where interest from Asian buyers in Australian property is growing strongly. According to PropertyGuru’s Property Sentiment Survey conducted in H1 2014, Australia consistently ranks as one of the top 3 overseas destinations for property investment. In fact, the National Australia Bank projected the growth of foreign buyers entering the Australian property market to be more than 7 percent in 2015.
Domain Group Chief Operating Officer, Mr Tony Blamey said, "Both PropertyGuru and Domain Group have been active in forging strong industry partnerships to bring more property choices for property seekers. Through this collaboration, we will be able to combine our resources and achieve even more impressive results for the benefit of consumers and the real estate business.”
“We will continue to explore opportunities to exploit synergies in our broad range of real estate media, data and software services to real estate agents, corporate clients and consumers in Australia and South-East Asia.”
Steve Melhuish, Chief Executive Officer and Co-Founder of PropertyGuru Group said, "PropertyGuru and Domain have a shared vision and commitment towards empowering consumers while bringing benefits to real estate advertisers in the long run.”
“By working together, we will be not only able to provide more value to home buyers, sellers, and investors, but also create robust initiatives that will allow our clients to connect with potential clients, and grow their businesses even more rapidly.”
Source: Press Release