PropertyGuru partners Australia's Domain to expand reach

TWO property portal groups - one Singapore and the other Australian - have tied up to connect property investors in Australia and South-east Asia to significant property investment opportunities in growing overseas markets.

Under the agreement between Australian firm Domain Group and Singapore-based PropertyGuru Group, PropertyGuru will connect regional investors 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.

Concurrently, Domain Group will provide Australian buyers interested in South-east Asian properties access to PropertyGuru's more than one million property listings from its key markets in Singapore, Malaysia, Indonesia and Thailand.

The two companies on Thursday said 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 the first six months of 2014, Australia consistently ranks as one of the top three overseas destinations for property investment.

They added that the National Australia Bank projected the growth of foreign buyers entering the Australian property market to be more than seven per cent in 2015.