Launched in August 2010, Commercialguru.com.sg has experienced an exceptionally strong growth in a mere 12 months of its inception. With 140,000 business users and investors viewing nearly two million pages per month, 15 percent overseas users, and the number of commercial property listings available on the site steadily increasing to 18,000 (as of present), it is a strong indication that Singapore’s commercial is in demand both domestically and internationally.
The most recent industry data on commercial property markets shows a persistent demand for retail, office and industrial spaces; more private property investors are now directed into the commercial sector due to the government’s efforts to control the residential market.
According to Savills, buying activity in the commercial property market has maintained its strength, with S$2.3 billion total transaction value in the first half of this year, showing a 14 percent year-on-year growth. S$1.1 billion worth of industrial properties have changed hands in the second quarter of 2011, spiking 42 percent over the same period last year.
In the office sector, property investment sales are projected to reach S$4 billion to S$6 billion, and 2011′s full-year investment figures could amount to S$25 billion to S$27 billion.
Singapore’s retail sales grew a seasonally adjusted 2.1 percent in July, compared to an upwardly revised 1.7 percent rise in June. In a comparable period last year, retail sales rose 10.7 percent. The annual growth for July was noticeably higher than economists’ estimate of an 8.7 percent increase.
Today, CommercialGuru.com.sg, Property Guru Group’s commercial property portal generates approximately 10,000 sales leads every month for commercial property developers, real estate agencies and agents – from domestic and overseas buyers, including investors.
Its advertisers include Ascendas, Mapletree, Far East Organization, Citi Commercial, Savills and Dennis Wee Group as well as a number of other commercial property developers, real estate agencies and almost 5,000 agents representing most of Singapore’s real estate agencies.
“We developed www.CommercialGuru.com.sg in 2010 in response to business users and a growing number of property investors request for a dedicated portal focused on commercial property. It’s growth and successes has far exceeded our expectations — with 145,000 business users and investors now using the site every month,” stated Steve Melhuish, Group CEO, PropertyGuru Group.