Domain has potentially expanded its market 15-fold after partnering with a major Asian listings portal.
The agreement will see Singapore-based PropertyGuru connect South-East Asian investors to Fairfax's Domain.com.au and CommercialRealEstate.com.au.
This makes Domain’s 400,000 residential and commercial listings available to the 10 million Asian buyers that use PropertyGuru’s websites, according to Domain.
It also gives Australian buyers access to the one million-plus listings on PropertyGuru, which covers Singapore, Malaysia, Indonesia and Thailand – countries with a combined population of 352 million, compared to 23.5 million in Australia.
PropertyGuru users consistently rank Australia as one of the top three overseas destinations for property investment.
Domain Group chief operating officer Tony Blamey said the partnership would allow the two listings portals to offer an improved experience for agents.
“We will continue to explore opportunities to exploit synergies in our broad range of real estate media, data and software services to real estate agents, corporate clients and consumers in Australia and South-East Asia,” he said.
PropertyGuru CEO Steve Melhuish said the two parties had a shared commitment to serving real estate advertisers and consumers.
“By working together, we will not only be able to provide more value to home buyers, sellers, and investors, but also create robust initiatives that will allow our clients to connect with potential clients, and grow their businesses even more rapidly,” he said.