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Meet Singapore's Accidental Property Guru

  • Company buys property media firm amid rising competition
  • TPG-backed PropertyGuru doesn't plan listing in 2016
Bloomberg business news

PropertyGuru's Asian Acquisition Strategy

Steve Melhuish knew practically nothing about the real estate market in Singapore when the condo he was renting was put up for sale in 2006. Now he dominates the industry.

The British-born Melhuish and his wife had just moved to the city-state 18 months earlier and they were surprised at how difficult it was to find new housing. Decade-old sites like Realtor.com, popular in the U.S., hadn’t reached Southeast Asia, and most real estate advertising still appeared in newspapers with only basic information like price and a building name. He founded PropertyGuru Group in 2007 to let people search more efficiently online and now controls the largest Internet real estate website in the region with 14 million users a month.