DBS launches new property marketplace

DBS Bank has launched an online property marketplace that aggregates some 100,000 property listings from EdgeProp and Averspace, it said on Tuesday.

The DBS Property Marketplace is intended to be a one-stop-shop where new home buyers can browse listings, make cheque-free payments, and link up with utilities providers, as well as renovation, cleaning and moving services.

While other mortgage calculators are available online, one unique feature of the home financial planner available on the DBS marketplace is that buyers can determine the impact that purchasing a property will have on their monthly cash flow, calculated based on how much they intend to pay from both their CPF (Central Provident Fund) money and cash deposits.

DBS hopes to double the number of property listings on the portal by the end of the year, when listings from SoReal will be added as well.

A year ago, the bank launched the DBS Car Marketplace, while the DBS Electricity Marketplace was launched in March this year. DBS said that its large retail consumer base enables it to build marketplaces with "robust ecosystems" in partnership with small and medium-sized enterprises.