PropertyGuru vs REA Group vs Dot Property comparison

After my analysis on the different countries in the region, finally I think I have an idea of what’s going on in Southeast Asia ;)

There is a good mix of markets with different maturity levels, going from sophisticated ones like Singapore to youngsters like Philippines, or very fragmented ones like Thailand. We can find many players of all kind and three portal groups clashing almost in every country: Property Guru GroupREA Group and Dot Property Group.

So on this analysis I’m going to focus on them three, this is the current market situation. Warning! Big table coming, but I think is good to see everything in one place:

Data considerations

I must say that this is just a reference based on estimations and a limited analysis, don’t take it as 100% certain data. To clarify from where I got those figures:

  1. Monthly visits: It’s an estimation by Similarweb, 3rd party tool with good reputation of accuracy but with an expected discrepancy of around 10 to 30%.
  2. Traffic ranking: This is the position in the market based on my analysis, while I’m sure I’ve missed players in every country. But the most important ones should be there.
  3. Market share: It’s based again only on the players in my analysis. Calculated adding up all the visits per month and taking the percentage for the portal over the whole market.

Also to mention that in the table above, I haven’t take into account the double presence in the same market, I’ve just taken the main site on each country for each group.

Market situation

Property Guru is the overall clear ruler leading the markets in Singapore, Thailand, Vietnam, Indonesia (thanks to double presence) and being second in Malaysia. They’ve based their growth in bold acquisitions and last year they got $145 million from KKR, so most likely they won’t stop there. They still have Philippines, Cambodia, Myanmar and Laos pending to attack.

Second we have the REA Group with the iProperty portals, putting a good fight in several countries and leading in Malaysia. It was born thanks to the success of Realestate.com.au, leading portal in Australia, one of the most relevant markets worldwide. Nowadays they have presence in other regions of Asia and North America as well.

As the third contender we have Dot Property, strong in Philippines and Thailand but still with a long way to catch up with Property Guru. It was bought by the giant Mitula Group for around $4 million in 2016, while Mitula itself was bought by the Japanese super giant Lifullfor $140 million in 2018. So they do have resources to put a fight and right now, it’s the only one of the three with presence in Cambodia, Myanmar and Laos.

Conclusion

We have three players with enough resources to be fighting with each other in the upcoming years. There are some others, not so strong in resources but still able to play like Lamudi, leading Philippines, with presence in Indonesia and backed by Rocket Internet. Also startups like Edge Property with portals in Singapore and Malaysia, or 99.co being in Singapore and Indonesia. And more that will surely show up.

Many markets within Southeast Asia are still very young, but obviously that’s where the opportunity is. Thinking about long term and with a population of around 650 million people, mostly from non-high GDP countries but still definitely worth investing.

In any case, it’s always very interesting to see how things develop in emerging markets. And we’ll see if some day I have the chance to shake them a little with my doing ;)

That’s all for now, please don’t hesitate to comment below or send me a private message for a chat about property portals or proptech in general!