iProperty Group launches CommercialAsia, a dedicated one-stop commercial property portal
· First-of-its-kind commercial property listing portal in Asia
· Caters to growing interest in commercial property as an investment option
· 48,000 listings across Singapore, Malaysia and Australia featured at launch
Singapore, 28 September, 2016 – iProperty Group Ltd, Asia’s leading online advertising business serving the real estate industry, has launched CommercialAsia, a one-stop commercial property listing platform targeted at investors and property agents. The platform gives property investors access to over 48,000 offices, serviced offices and hotels across Singapore, Malaysia and Australia, – ranging from a Malaysian shophouse office with monthly rental from S$495.3 (RM1,500) to an office building in Singapore’s CBD area listed for sale at S$270 million.
The CommercialAsia platform simplifies commercial property searches, allowing users to source for properties across countries, as well as search industry trends and insights for sound investment decision-making. CommercialAsia also provides access to and details of property agents specialising in cross-border and regional commercial property investments.
Mr Sean Tan, Singapore General Manager and Chief Business Development Officer at iProperty Group said, “Asian cross-border commercial property investment is rising, accounting for 33 per cent of commercial property investment transactions in the 12 months ending Q2 2016, the highest level since Q2 2008, according to Real Capital Analytics. CommercialAsia helps sophisticated investors make well-informed decisions on cross-border real estate investment. Property agents also benefit as the platform allows them to tap into iProperty’s extensive network of savvy and experienced investors.”
According to JLL Asia Pacific Capital Markets in Focus Q2 2016, the commercial property markets in Singapore and Australia saw S$5.98 billion of transactions each, with an increase of 144% year-on-year for Singapore.
CommercialAsia features consolidated listings from multiple sources, including Australia-based REA Group and iProperty Group, giving users one-stop access to an extensive range of commercial properties across the region. iProperty Group owns market leading property portals in Malaysia, Thailand, Indonesia and Hong Kong, while REA Group operates Australia’s leading commercial property website –realcommercial.com.au.
With increasing demand for commercial property investments across Asia, investors require a single business resource that provides relevant information. CommercialAsia will be expanding its property listings to include Hong Kong and Indonesia, and hosting a knowledge and resource centre with information on regulation, policy, cross-border tax treaty updates, currency impact on valuations and expert forecasts for the industry.
According to the CBRE Asia-Pacific Investor Intentions Survey, 80 per cent of respondents, including real estate investors, fund and asset managers, and property companies, indicated sustained interest in commercial properties and 42 per cent indicated increasing their investment in 2016, compared to 2015. The survey also showed that investors are most interested in commercial property investments in Australia, Japan and China, with Australia being the most attractive investment destination for Chinese and Singaporean investors.
Knight Frank’s Asia-Pacific Prime Office Rental Index for Q2 2016 showed that the steady demand for commercial properties in Asia caused the vacancy rate in the region to drop 20 basis points to 10.6% in Q2 2016, despite significant new supply. Prime office rents in Melbourne, Sydney, Hong Kong and Shanghai grew by seven per cent, 10.9 per cent, 11.3 per cent and 8.7 per cent year-on-year respectively, indicating strong demand.