PropertyGuru Group has acquired MyProperty Data Sdn Bhd, an online property data company in its bid to strengthen its offerings and services in the property sector. PropertyGuru bought the stakes from TechnoDex Bhd and Real Estate Solutions Sdn Bhd.
PropertyGuru provides property data and insights to agents, financial institutions, home buyers, credit rating agencies, valuers and property developers.
MyProperty Data provides property data analytics and insights leveraging over six million unique records across sales, rentals, auctions, new development and geospatial information along with proprietary datasets in demographics, location and liveability.
MyProperty Data solutions are endorsed by industry bodies such as The Association of Property Valuers, Property Managers, Estate Agents & Property Consultants in the Private Sector – Malaysia (PEPS); Malaysian Institute of Estate Agents (MIEA), and are utilised by major banks and over 1,200 valuation professionals in Malaysia.
PropertyGuru Group chief technology officer Manav Kamboj said, “Our goal is to empower Malaysians with accurate and easy access to data for every step of their property journey so that consumers can buy or sell the property at the right market price and capitalise on potential gains in the future.”
PropertyGuru and MyProperty Data have a shared vision to promote greater transparency in the Malaysian property market through the democratisation of property data. They started work on the vision together two years ago and launched Home Loan pre-Approval, to address Malaysia’s high loan rejection rates and homeownership issues.
“Over the next few months, we will be investing substantially to expand MyProperty Data’s offerings, and it will also entail growing the team with data scientists, engineers, product managers, sales and marketing experts. We look forward to serving over 5 million home seekers who rely on PropertyGuru every month to find, finance, and own their home with greater confidence.’’
MyPropertyData managing director Joe Hock Thor said, “This acquisition advances the goal we share with PropertyGuru – empowering Malaysians with accurate transaction data so that they neither overpay nor underpay when making decisions.
“PropertyGuru is no stranger to us as we have collaborated on many occasions, such as in developing a Pricing Insight exclusive to PropertyGuru in 2018 and the Home Loan Pre Approval in 2019. It was natural for us to further collaborate, and we are delighted to join the Group,” he further elaborated.
Moving into 2021, Kamboj said the pandemic had accelerated the adoption of digital demand in every arena, including property.
“Our goal is to use data to enable homeownership in Malaysia, to help consumers make more informed buying, selling, renting decisions and we look forward to partnering with agents, developers, financial institutions and valuers in the industry to work towards achieving this goal.”