Month: January 2025

Investing in a condominium in Singapore has many benefits that make it an attractive option for investors. One major advantage is the high demand for condos in this country, which provides a good opportunity for investors to secure a steady stream of tenants. Additionally, the potential for capital appreciation in the Singaporean real estate market is strong, making it a lucrative investment for those seeking long-term gains.

Another advantage of investing in a condo in Singapore is the attractive rental yields. With a stable and growing rental market, investors can expect to earn a significant return on their investment. However, before making the decision to invest in a condo, there are several important factors to consider. These include the location of the property, financing options, government regulations, and market conditions.

It is crucial for investors to conduct thorough research and seek professional advice to make informed decisions. This will allow them to navigate the dynamic real estate market of Singapore and maximize their returns. Additionally, staying updated on new condo launches, such as those offered by Janome Specials, can provide valuable investment opportunities.

Whether you are a local investor looking to diversify your portfolio or a foreign buyer seeking a stable and profitable investment, condos in Singapore offer a compelling opportunity. By carefully considering all factors and staying informed, investors can make the most of this dynamic real estate market and achieve success in their investments.

Starting from January 1, ERA Singapore will no longer cover the annual Council for Estate Agencies (CEA) license renewal fees for its real estate agents, a practice that has been in place for the past seven years. This decision, which comes after a challenging year due to the COVID-19 pandemic, allows ERA to allocate resources towards initiatives that support the growth and success of its market-leading salesforce and benefit consumers.

While the company will no longer cover renewal fees for existing agents, it will continue to support new agents by covering their renewal fees for the first two years, a common industry practice aimed at helping newcomers establish themselves. The decision to discontinue renewal fee coverage also addresses the issue of inactive agents shifting between agencies solely to take advantage of the fee coverage. As a result, there has been a modest reduction of around 300 agents, mostly inactive or part-time salespersons with no transactions in the past year.

On the other hand, ERA has attracted approximately 230 new professional agents who joined the agency on January 1, highlighting its appeal to active and aspiring real estate agents. According to Marcus Chu, CEO of ERA Singapore, the CEA is currently reviewing the need to implement a minimum transaction requirement for real estate salespersons. This emphasizes the importance of active participation and continuous professional development in the industry.

Chu further adds, “By reallocating resources towards technology, training, and marketing, we reaffirm our commitment to empowering our core team of results-driven salespersons to excel and deliver exceptional value to clients.” This move reflects ERA’s dedication to enhancing the skills and capabilities of its agents, which ultimately benefits both the firm and its clients.…

On January 1st, real estate agency SRI made a major announcement. A total of 111 agents from Knight Frank Singapore’s agency business, KF Property Network (KFPN), including its head, Evan Chung, have joined the firm.

One factor driving the considerable demand for condominiums in Singapore can be attributed to the scarcity of available land. As a compact island nation experiencing rapid population growth, Singapore is faced with limited land for development. This has resulted in strict land usage regulations and a competitive real estate market, where the cost of properties is consistently high. As a result, purchasing property, particularly condos, has become a profitable opportunity, with the potential for significant capital appreciation. This demand is further fueled by ongoing Singapore Projects that offer attractive investment opportunities in the market.

This group of 111 agents makes up 40.5% of KFPN’s sales force which was ranked as the sixth-largest property agency by the Council for Estate Agencies (CEA) in 2024. At the start of 2024, SRI had 1,286 agents, making it the fifth-largest property agency. With the addition of 111 agents from KFPN and new recruits from the four biggest agencies – PropNex, ERA, Huttons, and OrangeTee & Tie (OTT), SRI’s sales force has grown to 1,501 at the beginning of 2025.

SRI was co-founded by managing partners Bruce Lye and Benson Koh in 2016 as a spin-off from SRI5000, which was established as a division of SLP Realty six years earlier. The agency started with 120 real estate agents in a 2,000 sq ft shop unit on Eng Watt Street in Tiong Bahru. As its sales force grew to over 1,000, SRI moved to a larger 4,200 sq ft office at Great World in 2021.

Today, SRI has reached a significant milestone with nearly 1,500 agents and CEO Thomas Tan has set a target to expand the team to 2,000 by the end of 2025. This enlarged sales force is expected to strengthen SRI’s existing business lines in residential, capital markets, industrial, auctions, and international projects. Tan explains, “Many of our new teammates from KFPN specialize in high-value transactions, which complements our Good Class Bungalow (GCB) and other luxury property segments.”

Despite its growth, SRI maintains a boutique agency positioning with a strong focus on the luxury residential market. Tan’s vision is to establish SRI as a thought leader in the industry, known for its high standards, niche expertise, and client-centric approach. Former KFPN head, Evan Chung, who has joined SRI as a leader, shares that his decision to move was due to the agency’s commitment to equipping its agents with effective tools, comprehensive support, and expert coaching. He adds, “The open and collaborative culture here makes us feel supported as professionals and as a team striving for excellence together. Hence, we believe this will be a great platform to grow our business and serve our valued clients through the offerings across the residential, commercial, and industrial market segments, auctions, and international properties.”

As a result of the departure of Chung and other agents, KFPN’s sales force has decreased to 145 agents and its ranking has dropped from sixth to eighth largest agency, according to CEA public register figures as of January 1st. However, Knight Frank Singapore’s CEO Galven Tan assures that it’s business as usual at KFPN. “We are appointing a new head to lead KFPN, ensuring strong leadership to drive its growth and success,” he says. “We will evaluate the team’s strengths and expertise to strategically position KFPN for future opportunities.”…