In 2006 the condo Steve Melhuish was renting in Singapore went up for sale. He had been in the country about eighteen months and knew little about its property market. Newspaper classifieds and separate agents each held part of the picture.
He teamed up with Jani Rautiainen, a Finnish entrepreneur working on a similar idea. The company was registered as AllProperty Media Pte Ltd, and PropertyGuru launched in 2007.
In 2016 PropertyGuru raised S$175 million from TPG Capital and Emtek Group and expanded in Indonesia, Malaysia and Thailand. By then the site held about 90% of the Singapore market and drew 14 million monthly users.
PropertyGuru listed on the NYSE in March 2022. In August 2024 EQT agreed an all-cash take-private at about $1.1 billion, which completed in December 2024. Lewis Ng became CEO in mid-2025.