SINGAPORE (THE BUSINESS TIMES) - South-east Asian real estate portal PropertyGuru on Wednesday (May 27) said it has launched a new digital feature allowing a 360-degree walk-through of a project, its units and the surrounding cityscape.
The feature, called StoryTeller, is available on the group's sales automation platform, PropertyGuru FastKey.
According to the company, FastKey digitises and automates the entire property sales process from project launch to close of sale. It currently serves over 500 projects from 100 property developers in South-east Asia.
PropertyGuru said the new feature allows agents to host viewings and close deals remotely. It also enables property developers to go-to-market as soon as their project is approved, without having to wait for the construction of its sales gallery or showflat.
"(StoryTeller) brings the project and showflat to the property buyer's doorstep to view, select, and register interest for a unit based on their preference and as per real-time inventory available," PropertyGuru said in a press statement.
The group's latest rollout comes after the Singapore government said last week that developers' sales galleries will remain closed until further notice, with marketing and sales activity only allowed to continue on virtual platforms under phase one of the economy's safe reopening, starting on June 2.
"Social-distancing measures implemented amid the pandemic have reshaped consumer behaviour and with it, expectations around property buying and selling. With sales galleries now empty and people still looking to explore properties amid a new normal, the time has come to evolve property discovery," the company added.
Jason Gregory, managing director of FastKey at PropertyGuru, said: "We're excited to introduce StoryTeller integration into FastKey today, as virtual becomes the new normal. This will enhance the consumer experience by enabling immersive digital experiences and bring greater transparency and flexibility for all in the property ecosystem."
Last week, PropertyGuru's chief executive Hari Krishnan told Bloomberg News that the group's revenue grew 24 per cent to S$88.4 million in 2019 on a pro forma basis, thanks to surging wealth in the region.
In 2019, the start-up pulled the plug on an initial public offering (IPO) in Australia, citing uncertainty in the IPO market.