iProperty launches commercial property site

Region-wide cooling measures by the government on the residential property sector and the rising yield in the commercial sector has prompted the launch of CommercialAsia.com, the region’s first comprehensive website dedicated to commercial and industrial properties across Asia-Pacific.

The new website has the largest database of commercial and industrial property listings in the region with over 150,000 current listings, a figure expected to grow to over 500,000 by the end of 2012.

Spearheaded by The iProperty group, a leading Asian online property portal which reaches out to 3.5 million unique visitors and 25,000 real estate agents per month, the launch of CommercialAsia.com is timed in anticipation of the market trend.

Its chief executive officer, Shaun Di Gregorio said: "The iProperty Group’s data across Malaysia, Singapore, Hong Kong and Indonesia between 2010 and 2011 shows an upward trend in searches for commercial property."

With the government introducing cooling measures across Asia-Pacific and the fear of possible recession in the US and Europe and assumption of that impacting Asia-Pacific, the residential sector is softening as investors adopt a ‘wait-and-see approach, he said at the launch in Singapore.

By Bernama