Wondering who rules the market in The Lion City?

Similar to what I’ve done before for Dubai, this time I’d like to check what’s the situation in market with certain similarities like the one in Singapore. So straight to the point, let’s check the estimated traffic figures from SimilarWeb:

Main players

We can see a market leader in PropertyGuru with an estimation of 2 million visit per month, outstanding engagement metrics and more than a 40% of direct traffic. Part of a big group with several portals in Southeast Asia, they certainly have plenty of resources to play.

Second place we have 99.co, but careful! They bought the property portal Urbanindo from Indonesia and redirected it to 99.co/id. So about half of their traffic comes from Indonesia, they are not so big in Singapore.

Then to complete the podium we have EdgeProp, closely followed by iProperty and SRX Property. They all have a similar number of monthly visits, but if we check the bounce rate, iProperty has a very high 70%. That indicates lower quality traffic, usually from paid sources, and therefore lower conversion rates.

Additional players

Interesting to mention RentinSingapore, since they’ve done what we did in Spain long time ago: Aim to become the main reference for rentals above the general portals. The idea behind it is that could be better to be the no.1 in rentals than the no.4 or no.5 overall, specially in a market with a lot of people movement like Singapore ;)

Then we have some other players that not being property portals, they still have something to say on the property market. We have classifieds like the British giant GumTree, the expats site SingaporeExpats and the vertical search engines like Trovit and Mitula, all of them getting a decent amount of traffic for property buyers and renters.

Search metrics

As we know, traffic from search engines are usually the main traffic source for every property portal. So let’s have a look into some of the common search metrics to evaluate how competitive is the market:

Not a surprise to see the usual correlation between the search metrics and traffic rankings. PropertyGuru and 99.co have impressive figures comparable to some property portals in more mature Western markets.

The only thing that doesn’t add up is STProperty’s situation, with those metrics they should be getting more traffic, I would need to dig more to know why.

That’s all as an initial analysis of the property market in Singapore. Did I miss any important player? If so, please let me know! ;)