TheEdgeProperty.com eats into market share of leaders
By The Edge Property
/ www.similarweb.com, The Edge Property |
While the two leading property websites, www.iProperty.com and www.propertyguru.com, have maximised their first-mover advantage to obtain rich valuations from new investors, a new competitor is emerging to challenge their dominance of the Malaysia and Singapore markets.
TheEdgeProperty.com, which in May launched property portals for Malaysia (www.theedgeproperty.com.my) and Singapore (www.theedgeproperty.com.sg), has seen traffic to the two sites grow by leaps and bounds, especially in September and October.
According to statistics tracked by www.similarweb.com, www.theedgeproperty.my recorded 229,239 visitors and 616,653 page views in October. Its Singapore site www.theedgeproperty.com.sg recorded 171,479 visitors and 493,860 page views in the same month (see charts).
TheEdgeProperty.com, which in May launched property portals for Malaysia (www.theedgeproperty.com.my) and Singapore (www.theedgeproperty.com.sg), has seen traffic to the two sites grow by leaps and bounds, especially in September and October.
According to statistics tracked by www.similarweb.com, www.theedgeproperty.my recorded 229,239 visitors and 616,653 page views in October. Its Singapore site www.theedgeproperty.com.sg recorded 171,479 visitors and 493,860 page views in the same month (see charts).
Charts
Combined, the two sites had 402,238 visitors and 1,112,606 page views in October, compared with 71,422 visitors and 322,113 page views in May. This is a 563% and 345% jump in monthly visitors and page views respectively.
Interestingly, over the six months from May to October when TheEdgeProperty.com grew its traffic, traffic to propertyguru.com and iproperty.com dropped.
Interestingly, over the six months from May to October when TheEdgeProperty.com grew its traffic, traffic to propertyguru.com and iproperty.com dropped.
For example, in Singapore, the market leader propertyguru.com.sg saw its visitors fall from 490,273 in May to 380,000 in October, while its page views dropped from 12,274,327 to 8,992,000 over the same period.
In Singapore, theedgeproperty.com.sg (171,479 visitors and 493,960 page views) had in October overtaken iProperty.com (55,000 visitors and 311,300 page views) within six months of its launch.
A similar trend was seen in Malaysia where traffic to both iProperty.com.my and propertyguru.com.my fell between May and October.
The market leader in Malaysia, www.iProperty.com.my, saw its visitors fall from 798,393 in May to 610,000 in October while its page views dropped from 7,504,894 to 5,892,000. Propertyguru.my visitors fell from 490,272 to 380,000.
A similar trend was seen in Malaysia where traffic to both iProperty.com.my and propertyguru.com.my fell between May and October.
The market leader in Malaysia, www.iProperty.com.my, saw its visitors fall from 798,393 in May to 610,000 in October while its page views dropped from 7,504,894 to 5,892,000. Propertyguru.my visitors fell from 490,272 to 380,000.
“We are happy with the progress we’ve made over the last six months. It is fair to say that we are the fastest growing property portal in the region,” says Bernard Tong, director, strategic initiatives, at TheEdgeProperty.com.
“However, we are not here just to chase traffic figures. We believe we have a pivotal role to play in enhancing the property search experience and improving the overall efficiency in the market. With the right team on board, we will get there very soon,” he adds.
“However, we are not here just to chase traffic figures. We believe we have a pivotal role to play in enhancing the property search experience and improving the overall efficiency in the market. With the right team on board, we will get there very soon,” he adds.
In June, Singapore tycoon Peter Lim took a 20% stake in the TheEdgeProperty.com for an undisclosed sum. The savvy businessman had said then that the business model of the website was unlike other portals, as it is not disruptive and is aligned to the interests of the property agents, developers, banks and the public looking to buy and sell properties.
Also, unlike the other property portals that generally have only listings, TheEdgeProperty.com’s websites also have a full range of analytical tools including indicative valuations, past transactions, rental rates, trends, hotspots and new project launches.
Also, unlike the other property portals that generally have only listings, TheEdgeProperty.com’s websites also have a full range of analytical tools including indicative valuations, past transactions, rental rates, trends, hotspots and new project launches.
'Location scan’ tool is a search engine for property data around a specific landmark. It is available on TheEdgeProperty.com for registered users.
Source: TheEdgeProperty.com
'Edge fair value' tool is a indicative valuation tool based on information provided based on the subject property, recent past transactions or adjusted listings of similar properties
Source: TheEdgeProperty.com
Click here to find out more about the 'Edge fair value' tool.
Users will have the full experience of buying a property. From searching for listings, contacting the right agents, finding the right locations and price, evaluating comparable properties that are available and transacted to what price to make an offer and securing a mortgage — it is seamlessly and conveniently integrated.
“Property buyers, sellers and renters will have all the information that is required in making a better decision, for free,” says Tong. “And if none of the existing listings meet their needs, whether it’s the product, location or the price they are prepared to pay, they can register their desired property on the property watch list and they will be informed once a new listing that meets their criteria is available. This way, they will not miss the deal they are looking for,” he adds.
“Property buyers, sellers and renters will have all the information that is required in making a better decision, for free,” says Tong. “And if none of the existing listings meet their needs, whether it’s the product, location or the price they are prepared to pay, they can register their desired property on the property watch list and they will be informed once a new listing that meets their criteria is available. This way, they will not miss the deal they are looking for,” he adds.
This story first appeared in The Edge Malaysia weekly on Nov 9, 2015.
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