| | The property bandwagon
Listings on mocca soar as more put their homes up for rent
Weekend • September 29, 2007
Soaring rental prices have induced more homeowners to put their properties up for rent, a trend that has contributed to the 50-to-60-per-cent growth in property listings on mocca.com, the new MediaCorp e-classified platform.
Initially launched as an online platform for people to search, buy, sell and connect, mocca, or MediaCorp Online Communities and Classified Advertising, has now evolved into a novel way that allows property market watchers to spot rising trends.
"I think it would also be a good additional source for people to compare property prices, because if you look at the Housing and Development Board and the Urban Redevelopment Authority, they would usually only give you the transacted prices," said MediaCorp's vice-president (New Media Business) Timothy Goh. "Rental prices are not something they would provide, but we have them on mocca, and that enables a wider range of comparison."
Describing the property market as "healthy," he added that with the influx of more foreigners, the property market has also been indirectly boosted.
Now, "property" contributes to most of mocca's listings — accounting for an impressive 45 per cent — while the sale of general merchandises and services comes in second, with 13 per cent.
"We have also seen an increasing number of people putting up their 'pre-loved' products for sale," said Mr Goh. "These are new things that have not been used — either given to them as presents or bought on impulse." — Daphne Chuah |
