PropertyGuru Group is pleased to announce a 39% quarter-on-quarter increase in cash income for the three months ended March 2015 (“Q1 2015”), further evidence of the company’s market leadership position in Southeast Asia. The Group captured a record 92% of the market share in Singapore, and 59% in Thailand for Q1 2015 (source: ComScore).
This is despite a general downward trend across the Southeast Asian property markets. For example, real-estate advertisement spent in Singapore for 2014 decreased by 13% on a year-on-year (“Y-o-Y”) basis according to research done by AC Nielsen. This decline was mainly at the expense of traditional media such as print and TV.
PropertyGuru’s strong financial performance can be partly attributed to the shift in advertising from traditional to online 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 across Singapore, Thailand, Indonesia, and Malaysia increased 28% on a Y-o-Y basis, giving rise to a record achievement of 11 million consumer visits and 104 million page views per month across the four markets. Each market delivered double-digit growth in visits.