DBS has launched an online property marketplace that offers listings from both agents and owners, and it's the first bank in Southeast Asia to do so.
DBS Property Marketplace has partnered major online property listing platforms EdgeProp and Averspace to provide some 100,000 listings. The platform will soon include listings from SoReal.
The site comes with Singapore’s first home financial planner that helps first-time home buyers determine their “affordability” price range. This will be based on their monthly cashflow, calculated from both their CPF and cash deposits.
End-to-end paperless transactions – from cheque-free payments to digital documentation – will be facilitated. In addition, the site will provide all the essential services buyers need to settle into their new homes by partnering with service providers. These include utilities; digital home solutions such as internet and TV services; renovation; cleaning and moving services.
“While it is still early days, we believe this represents a paradigm shift for financial services in the future. As the largest bank in Singapore for both consumers and SMEs, we can effectively work in each sector’s ecosystem to partner SMEs and build data-driven customer research and benchmarking tools," said Jeremy Soo, Head of DBS Consumer Banking Group (Singapore).
"This allows us to provide one-stop solutions that effectively anticipate our customers’ needs across their purchase journey. We aim to provide holistic, thoughtful, and comprehensive propositions unique to the market, and become a meaningful part of their purchase journey.”