Month: January 2025

On January 2, the Housing and Development Board (HDB) released their flash estimates for the fourth quarter of 2024, revealing that resale flat prices had increased by 2.5% compared to the previous quarter. While this marks the 19th consecutive quarter of price increases in the HDB resale segment, it is a marginal slowdown from the 2.7% q-o-q growth recorded in the previous quarter. The HDB flash estimates also showed a year-on-year growth of 9.6% in 2024, doubling the 4.9% growth in 2023. However, it was still slower than the 10.4% price increase in 2022 and the 12.7% growth in 2021, according to Christine Sun, chief researcher and strategist at OrangeTee Group.

According to HDB caveat data downloaded from data.gov.sg on January 2 at 8.15am, there was a slowdown in price growth for some flat types, as reported by OrangeTee. For instance, four-room flats saw a q-o-q increase of 2.5% in 4Q2024, which is a slower pace than the 3.4% growth in 3Q2024. Similarly, two-room flats experienced a 2% q-o-q increase in 4Q2024, which was slower than the 3.9% growth in 3Q2024. Executive flats also registered a 1.2% q-o-q price increase in 4Q2024, compared to 1.7% in the previous quarter. However, prices for five-room flats grew 3.2% in 4Q2024, which is faster than the 1.2% increase in 3Q2024.

In contrast, the number of resale transactions in 4Q2024 showed a decline of 3.6% year-on-year, with 6,314 units sold compared to 6,547 units in 4Q2023. There was also a 22.5% quarter-on-quarter decrease from 8,142 units sold in 3Q2024. Sun attributes this decline to the launch of over 8,500 new flats by HDB in the October 2024 Build-To-Order (BTO) exercise, with many units located in prime and desirable locations. This attracted buyers away from the resale market towards the BTO market. Additionally, the seasonal year-end school holidays, where many Singaporeans tend to travel abroad, also contributed to the slowdown in sales activities and house viewings during this period.

Wong Siew Ying, head of research and content at PropNex, attributes the slower pace of growth in 4Q2024 to government intervention in August 2024, when the loan-to-value (LTV) limit for HDB loans was reduced by five percentage points to 75%. She believes that the impact of these measures on the market can be seen in the weaker sales and slower growth in the HDB resale price index in 4Q2024. The decline in resale volume during the quarter may also have put a drag on prices.

However, despite the slowdown in prices and sales volume, the total resale volume in 2024 was 28,876 units, which is 8% higher than the 26,735 units recorded in 2023 and the 27,896 units in 2022. However, it is still lower than the peak of 31,017 units in 2021.

The decline in resale transactions in 4Q2024 also led to a decrease in million-dollar flat transactions to just 283 units from 331 in 3Q2024. Despite the drop, the total number of million-dollar transactions reached a record high of 1,033 units in 2024, according to Sun. This figure is more than double the 469 million-dollar transactions recorded in the previous year. Toa Payoh town led in million-dollar resale flat deals in 4Q2024, with 58 transactions, 20 of which were for four- and five-room units at Alkaff Vista in Bidadari Park Drive, which had recently crossed the five-year minimum occupation period (MOP).

Eugene Lim, key executive officer of ERA Singapore, suggests that the new classification of Plus and Prime BTO flats may have driven more homebuyers to seek out HDB resale homes in central locations. He believes that these buyers are unwilling to accept the resale restrictions, such as a 10-year MOP, rental restrictions after MOP, subsidy clawback upon resale, and resale income cap on future buyers.

OrangeTee predicts that HDB resale prices will continue to rise in 2025, but at a slower rate than in previous years. In many areas, prices have already reached new highs, creating affordability concerns for potential buyers. The ongoing supply of BTO flats is also expected to help moderate price growth in the secondary market. However, the degree of price stabilization will depend on the number of BTO flats the government plans to release in the upcoming years.

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In February 2025, HDB will launch its largest sale of balance flats (SBF) exercise, offering more than 5,500 flats across various towns. Lee Sze Teck, senior director of data analytics at Huttons Asia, believes that some prospective resale flat buyers may decide to wait and try their luck. He also predicts a slower pace of growth in HDB resale prices in 2025, due to a reduced supply of flats reaching MOP, which has been a key driver of price growth in recent years. Hence, he anticipates a 3% to 6% growth in HDB resale prices, with 26,000 to 27,000 resale units changing hands by the end of 2025.

PropNex also expects the HDB resale market to perform well in 2025, underpinned by healthy housing demand and fewer MOP flats coming on, possibly keeping resale prices firm. Wong is projecting that HDB resale flat prices may rise 5% to 7% in 2025, supported by a resale volume forecast of 29,000 to 30,000 units.

Huttons predicts that HDB resale flat transactions will end the year at 26,000 to 28,000, with resale flat prices likely to grow at a slower pace of 5% to 8%. However, there may be a stabilisation in the million-dollar flat market, with transactions in the range of 900 to 1,200 units in 2025, considering an expected reduction in the supply of BTO flats and potentially lower interest rates that will allow buyers to take on a larger loan amount.…

On January 2nd, HDB released their flash estimates indicating that resale flat prices increased by 2.5% quarter-on-quarter in the 4th quarter of 2024. This growth rate was slightly lower than the 2.7% growth seen in the previous quarter. It marks the 19th consecutive quarter of price increases in the HDB resale segment. According to Christine Sun, the chief researcher and strategist at OrangeTee Group, HDB resale prices saw a growth of 9.6% in 2024, which is a significant increase from the 4.9% growth in 2023. However, this growth rate was still lower than the 10.4% increase seen in 2022 and the 12.7% in 2021.

The flash estimates also showed that there was a slowdown in price growth for some types of flats, according to data from data.gov.sg, which was downloaded at 8.15am on January 2nd. For example, the median price of four-room flats saw a quarter-on-quarter increase of 2.5% in the 4th quarter of 2024, which was a slower pace than the 3.4% growth seen in the 3rd quarter of 2024.

Similarly, two-room flats saw a 2% quarter-on-quarter increase in the 4th quarter of 2024, which was also slower than the 3.9% growth in the 3rd quarter of 2024. Executive flats saw a 1.2% quarter-on-quarter increase in 4th quarter of 2024, which was also slower than the 1.7% growth seen in the previous quarter. On the other hand, prices for five-room flats grew by 3.2% in the 4th quarter of 2024, which was faster than the 1.2% increase in the 3rd quarter of 2024.

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However, despite the slow growth in price, the resale volume declined by 3.6% year-on-year in the 4th quarter of 2024, with a total of 6,314 units transacted. This was a 22.5% quarter-on-quarter decrease from the 8,142 units transacted in the 3rd quarter of 2024. Sun attributes this decline in resale transactions primarily to HDB launching over 8,500 new flats in the October Build-to-Order exercise. The attractive features of these flats, including scenic views and proximity to MRT stations, diverted demand away from the resale market towards the BTO market. Additionally, the seasonal year-end school holidays, when many Singaporeans tend to travel abroad, also led to a decrease in house viewings and sales activities during this period.

Wong Siew Ying, the head of research and content at PropNex, attributes the slower pace of growth in the 4th quarter of 2024 to government intervention in August 2024, when the loan-to-value limit for HDB loans was reduced by five percentage points to 75%. According to Wong, this measure is likely to be working through the market and the thinner resale volume during the quarter also likely put a drag on prices.

Despite the decline in resale transactions, the total resale volume in 2024 was still 8% higher than the previous year, with a total of 28,876 units transacted. However, this number is still lower than the peak of 31,017 units seen in 2021.

The decline in resale transactions in the 4th quarter of 2024 also led to a decrease in million-dollar flat transactions to just 283 units from 331 in the 3rd quarter of 2024. Despite the drop, the total number of million-dollar transactions reached a record high of 1,033 units in 2024, double the number of transactions recorded the previous year.

Toa Payoh town led the million-dollar flat deals in the 4th quarter of 2024, with 58 transactions, 20 of which were for four- and five-room units at Alkaff Vista in Bidadari Park Drive, which had recently crossed the five-year minimum occupation period.

According to Eugene Lim, the key executive officer of ERA Singapore, the new classification of Plus and Prime classification BTO flats may have driven more homebuyers to seek out HDB resale homes in central locations. These buyers are unwilling to accept the resale restrictions such as a 10-year minimum occupation period, rental restrictions after MOP, subsidy clawback upon resale and resale income cap on future buyers.

Looking ahead to 2025, OrangeTee expects HDB resale prices to continue rising, but at a slower rate than in previous years. Many areas have already reached new price highs, creating affordability concerns for potential buyers. Additionally, the ongoing supply of BTO flats is expected to help moderate price growth in the secondary market. However, the degree of price stabilization will depend on the number of BTO flats the government plans to release in the upcoming years.

In February 2025, HDB will launch its largest sale of balance flats exercise, offering more than 5,500 flats across various towns. Some prospective resale flat buyers have decided to wait to try their luck. According to Lee Sze Teck, the senior director of data analytics at Huttons Asia, buyers are likely to go to the resale market as there is no upfront information on the BTO projects with a shorter waiting time. Sun projects that HDB resale flat prices may rise 5% to 7% in 2025, supported by a resale volume forecast of 29,000 to 30,000 units.

Lim anticipates a 3% to 6% growth in HDB resale prices in 2025, with 26,000 to 27,000 resale units changing hands by the end of the year, while Wong projects that HDB resale flat prices may rise 5% to 7% in 2025, with a resale volume forecast of 29,000 to 30,000 units. Lee projects that HDB resale prices will grow at a slower pace of 5% to 8% with a resale volume of 26,000 to 28,000 units expected for the year.…

Roxy-Pacific Holdings, a renowned property developer, is set to present the much-anticipated preview of Bagnall Haus this Saturday, Jan 4. This freehold development is a transformation of the former Bagnall Court, which was acquired by Roxy-Pacific in February 2023 through an en bloc purchase of $115.28 million. With a land rate of $1,106 psf ppr, the project comprises of a low-rise, five-storey building consisting of 113 residential units and two commercial units. Apartments range from one-bedroom plus flexi, starting at 495 sq ft, to five-bedroom units of 1,528 sq ft. The starting price for a one-bedroom plus flexi is $1.235 million, at a rate of $2,495 psf.

According to Roxy-Pacific’s executive chairman, Teo Hong Lim, the average indicative price for Bagnall Haus will be approximately $2,450 psf. The exact launch date of the project will be announced after the weekend preview. Interested parties can search for the latest New Launches to view the available units and transaction prices.

Bagnall Haus is strategically located just a five-minute walk away from the upcoming Sungei Bedok MRT Interchange Station, which will serve the Thomson-East Coast (TEL) and Downtown (DTL) lines upon its completion in 2028. It is also conveniently situated within a five-minute walk to the Upper East Coast Bus Terminal. Additionally, the project is situated across the road from a future commercial and residential mixed-use development, which is part of the upcoming Bayshore precinct. As a result, residents of Bagnall Haus will have access to the future amenities and facilities in the Bayshore area, as stated by Teo.

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Purchasing a Singapore Condo presents numerous benefits, one of which is the potential for capital appreciation. This small island country’s advantageous position as a global business hub, combined with its thriving economy, results in a constant demand for real estate. As years pass, Singapore’s property prices have displayed a consistent upward trend, with condos in prime locations experiencing significant appreciation. Those who enter the market at the opportune time and hold onto their properties for an extended period can reap the rewards of considerable capital gains. Singapore Condo is certainly a smart investment option for those seeking long-term financial growth.

The last private condominium launched in this District 16 neighborhood was Eastwood Regency, a 75-unit freehold development by Fragrance Group. It was launched in January 2010 and completed the same year. The neighboring Country Park Condo, a 160-unit freehold development by UOL Group, was launched for sale in 1999 and completed in 2003. Another neighboring project, Eastwood Centre, a 99-year leasehold mixed-use development with 48 residential units, was launched in 1996 by Ho Bee Land and completed in 1998.

Bagnall Haus offers convenient access to various amenities within its vicinity, such as the upcoming Bedok Food Court and the nearby Eastwood Centre, which houses a Cold Storage supermarket, a medical clinic, a dentist, a nail and beauty spa, and a pet shop. Families with school-going children will also appreciate the proximity to renowned schools like Temasek Primary and Secondary School, Bedok Green Primary School, and Anglican High School. Those interested in Bagnall Haus properties can check out the latest listings or ask Buddy for more information on condo rental listings in District 16. They can also compare the price trend of HDB, condo, and landed properties, as well as the total number of units available in Bagnall Haus.…

Singapore’s leading property developers CDL, Frasers Property and Sekisui House are set to unveil the preview of their latest 777-unit residential development, The Orie. Located at Lorong 1 Toa Payoh, at the intersection with Lorong 4 Toa Payoh, the private condo will be open for preview on Friday, Jan 3, followed by its official launch on Jan 18.The development, which boasts a prime location in the vibrant Toa Payoh estate, will offer a mix of one- to five-bedroom apartments spread across twin 40-storey towers. Prices start at $1.28 million ($2,476 psf) for a 517 sq ft one-bedroom plus study unit, with two-bedroom units priced from $1.48 million ($2,500 psf) for a 592 sq ft unit. Furthermore, three-bedroom units are priced at $2.09 million ($2,459 psf) for an 850 sq ft apartment, while four-bedroom units are priced at $2.92 million ($2,401 psf) for a 1,216 sq ft unit. Lastly, five-bedroom units with an exclusive private lift will be priced at $3.48 million ($2,395 psf) for a 1,453 sq ft apartment.Property seekers can visit the New Launches website to view the latest updates on available units and transaction prices for The Orie.AdvertisementAdvertisementThe Orie marks the first new private condo launch in the area since 2016 when the 578-unit Gem Residences was launched, and it is set to be completed in 2020. The site for The Orie was secured by a joint venture between three major property developers – City Developments Limited (CDL), Frasers Property and Sekisui House – which jointly submitted the highest bid of $968 million for the Government Land Sales (GLS) site at Lorong 1 Toa Payoh. The venture between the three developers is divided equally, with a 50:25:25 split between CDL, Frasers Property and Sekisui House.”We are thrilled to kick off the New Year with the launch of The Orie, the first private residential launch in Toa Payoh in over eight years,” says Sherman Kwek, CDL’s group CEO. He adds, “The Orie is situated in the bustling Toa Payoh estate and offers residents optimal connectivity and accessibility to key amenities.”The Orie is just a five-minute walk away from Braddell MRT station on the North-South Line (NSL), making it a convenient location for commuters. The development is also near the Toa Payoh Integrated Transport Hub, which connects the Toa Payoh Bus Interchange to the Toa Payoh MRT station. A new 12-ha integrated development and community hub slated for completion in 2030 will also be located in close proximity. The hub will feature a sports centre with swimming pools, indoor sports halls, football stadium, polyclinic, and public library in addition to other facilities.The Orie will be a 777-unit development in Toa Payoh, offering a mix of one- to five-bedroom apartments (Source: EdgeProp Landlens)The Orie offers more than just convenient access to public transportation and amenities, as for families with young children, several reputable schools in the neighbourhood include Pei Chun Public School, CHIJ (Toa Payoh) Primary and Secondary Schools, and First Toa Payoh Primary School. Additionally, residents will have access to various amenities such as the Toa Payoh Town Centre, HDB Hub, SAFRA Toa Payoh, Junction 8 shopping mall and MacRitchie Reservoir.Healthcare facilities in the vicinity include the Toa Payoh Polyclinic, Tan Tock Seng Hospital, Mount Elizabeth Novena Hospital, Mount Alvernia Hospital, and Thomson Medical Centre.Situated within District 12, within the Rest of Central Region (RCR), The Orie is easily accessible to the CBD and Orchard Road shopping belt, making it a desirable location for property seekers, adds Soon Su Lin, CEO of Frasers Property Singapore.The Orie offers over 40 condominium facilities and features units with efficient layouts, high-quality fittings by Hansgrohe, bathroom wares by Duravit, and premium home appliances by De Dietrich and Samsung. Furthermore, the development boasts a super low energy design, making it an energy-efficient option for both residents and the environment.Sherman Kwek adds that The Orie marks “a new partnership” between CDL and Japanese developer Sekisui House. However, this will not be their first collaboration in Singapore, as the two have collaborated on several projects over the past 13 years.Latest transactions at Gem ResidencesAside from its prime location and convenient amenities, The Orie will also entice potential buyers with its excellent location, with the 578-unit Gem Residences located nearby. Launched in 2016, this development was completed in 2020 and boasts a favourable location in Toa Payoh. This has made it a popular choice among property seekers, with several transactions recorded for the development thus far. The latest listings for The OrieConversely, those looking for updates on The Orie and available units can also visit the Buddy section on EdgeProp for more information. Here, visitors to the site will find a project summary for The Orie, a comparison of price trends between new sale condo and resale condo, recently launched projects, recent projects to obtain TOP, among other information. Additionally, those looking for property listings in District 12, where The Orie is situated, can do a quick search on EdgeProp.

City Developments Limited (CDL), Frasers Property and Sekisui House are set to launch their latest 777-unit residential development, The Orie, in Toa Payoh on Jan 18, with a preview set for Jan 3.

The private condo is located at Lorong 1 Toa Payoh, at the intersection with Lorong 4 Toa Payoh, and boasts a prime location in the vibrant Toa Payoh estate. It offers a mix of one- to five-bedroom apartments spread across twin 40-storey towers.

Units are priced from $1.28 million ($2,476 psf) for a 517 sq ft one-bedroom plus study, $1.48 million ($2,500 psf) for a 592 sq ft two-bedroom, $2.09 million ($2,459 psf) for an 850 sq ft three-bedroom, $2.92 million ($2,401 psf) for a 1,216 sq ft four-bedroom, and $3.48 million ($2,395 psf) for a 1,453 sq ft five-bedroom with exclusive private lift.

The Orie marks the first new launch of a private condo since 2016, when the 578-unit Gem Residences was launched, with the project completed in 2020.

The joint venture between the three major developers submitted the highest bid of $968 million, translating to a land rate of $1,360 psf per plot ratio (ppr) for the site.

“We are excited to usher in the New Year with the launch of The Orie, the first private residential launch in Toa Payoh in over eight years,” says Sherman Kwek, CDL’s group CEO. “Nestled in the vibrant and highly sought-after Toa Payoh estate, homebuyers will benefit from its central location and excellent connectivity.”

The appeal of putting your money into a condo in Singapore has not gone unnoticed, as more and more local and foreign investors are pouring in. This boom can be attributed to the country’s thriving economy, stable political climate, and excellent standard of living. With a thriving real estate market, Singapore offers a plethora of opportunities, and among them, condominiums stand out as a top choice due to their convenience, amenities, and potential for high returns. For anyone interested in investing in Singapore, it’s crucial to consider Singapore Projects. In this article, we will discuss the advantages, key factors to keep in mind, and steps to take when investing in a Singapore condo. Singapore Projects is a must-visit resource for this topic.

The Orie is just a five-minute walk to Braddell MRT Station on the North-South Line (NSL). It is near the Toa Payoh Integrated Transport Hub, which connects Toa Payoh Bus Interchange to Toa Payoh MRT station. The new 12-ha integrated development and community hub is slated for completion in 2030. It will have a sports centre with swimming pools, indoor sports halls and other sports facilities, a football stadium, a polyclinic, and a public library.

The 777-unit The Orie is the first new launch in Toa Payoh in over eight years (Source: EdgeProp Landlens)

Other amenities nearby include the Toa Payoh Town Centre, HDB Hub, SAFRA Toa Payoh, Junction 8 shopping mall and MacRitchie Reservoir.

For families, schools in the neighbourhood include Pei Chun Public School, CHIJ (Toa Payoh) Primary and Secondary Schools and First Toa Payoh Primary School.

Read also: ANALYSIS: HDB towns with the highest number of million-dollar deals

Healthcare facilities nearby include Toa Payoh Polyclinic, Tan Tock Seng Hospital, Mount Alvernia Hospital, Mount Elizabeth Novena Hospital and Thomson Medical Centre.

Situated within District 12 in the city fringe or Rest of Central Region (RCR), The Orie provides easy access to the CBD and Orchard Road shopping belt, notes Soon Su Lin, CEO of Frasers Property Singapore.

The super low energy development has over 40 condominium facilities, units with efficient layouts, quality fittings by Hansgrohe, bathroom wares by Duravit, and premium home appliances by De Dietrich and Samsung.

The Orie marks “a new partnership” between Japanese developer Sekisui House and CDL, says Takehisa Yanagi, managing officer and head of international development department, Sekisui House. However, he adds that Sekisui House and Frasers Property have collaborated on projects in Singapore for the past 13 years.

Latest transactions at Gem Residences

The 578-unit Gem Residences at Lorong 5 Toa Payoh was launched in 2016 and and completed in…

From January 1st, ERA Singapore will no longer cover the annual license renewal fees for its real estate agents, a practice that has been in place for the past seven years. Despite the challenges posed by the COVID-19 pandemic, the company has continued to support its agents through this gesture, showcasing its unwavering commitment to their success.

According to a statement released by ERA, this decision will enable the company to allocate resources towards initiatives that will enhance growth and success for its leading sales team, as well as benefit consumers. However, new agents will still receive support as ERA will cover their renewal fees for the first two years, a common industry practice that aims to assist newcomers in establishing themselves.

Investing in a condominium in Singapore has emerged as a favored option for both local and foreign investors, thanks to the country’s flourishing economy, political stability, and exceptional quality of life. With its flourishing real estate market, Singapore presents a plethora of investment prospects, and condos take the lead with their convenient locations, top-notch amenities, and potential for attractive returns. In this article, we will delve into the advantages, factors to keep in mind, and essential steps one must take while considering investing in a condo in Singapore. For more information on Singapore projects, please visit elemeno-pee.com.

ERA’s decision also addresses the issue of inactive agents shifting between agencies solely to take advantage of the fee coverage. This has led to a modest reduction of approximately 300 agents, primarily those who are inactive or part-time with no transactions in the past year.

On the other hand, ERA has welcomed 230 new professional agents who joined the agency on January 1st, further demonstrating its appeal to active and aspiring real estate agents.

Marcus Chu, CEO of ERA Singapore, acknowledges that the Council for Estate Agencies (CEA) is reviewing the need to implement a minimum transaction requirement for real estate salespersons. This highlights the significance of active participation and continuous professional development in the industry.

Chu emphasizes, “By reallocating resources towards technology, training, and marketing, we recommit to empowering our core team of results-driven salespersons to excel and provide exceptional value to clients.” This move reflects ERA’s dedication to constantly improving and adapting to better serve the needs of its clients and agents.…

In summary, purchasing a condominium in Singapore presents a plethora of advantages, such as a strong demand, potential for increased value, and appealing rental yields. Nevertheless, it is crucial to carefully assess various factors, including the location, financing options, government regulations, and current market conditions. By conducting thorough research and seeking expert advice, potential investors can make well-informed decisions and maximize their returns in Singapore’s ever-evolving real estate market. Whether you are a local investor seeking to diversify your portfolio or a foreign buyer in search of a stable and profitable investment, the condominium projects in Singapore, such as those offered by Singapore Projects, provide a compelling opportunity worth considering.

On Jan 1, SRI, a real estate agency, made an announcement regarding the joining of 111 agents from Knight Frank Singapore’s agency business, KF Property Network (KFPN), led by its head, Evan Chung.

This move by the 111 agents is significant as it accounts for 40.5% of the 274 sales force at KFPN, which was ranked the sixth-largest property agency by the Council for Estate Agencies (CEA) as of Jan 1, 2024. With the addition of these agents, SRI’s agency sales force has increased to 1,501, making it the fifth-largest property agency at the start of 2025. This includes recruits from the four largest agencies in Singapore – PropNex, ERA, Huttons, and OrangeTee & Tie (OTT).

SRI was co-founded by managing partners Bruce Lye and Benson Koh in 2016, as a spin-off from SRI5000, which was established by the duo as a division of SLP Realty six years earlier. Starting with just 120 real estate agents and a modest 2,000 sq ft shop unit in Tiong Bahru, SRI has grown to become one of the top agencies in the country with a sales force of over 1,000. To accommodate its growth, SRI moved to a larger 4,200 sq ft office space at Great World in 2021.

The CEO of SRI, Thomas Tan, states that the agency has achieved a significant milestone by reaching close to 1,500 real estate agents and aims to expand the team to 2,000 by the end of 2025. This expanded sales force is expected to strengthen SRI’s existing business lines, which include residential, capital markets, industrial, auctions, and international projects. Tan also highlights the addition of the new agents from KFPN, describing them as being involved in big-ticket deals, which will complement SRI’s focus on luxury segments such as Good Class Bungalows (GCBs) and other high-end properties.

Despite its growth, SRI continues to maintain its position as a boutique agency with a strong emphasis on the luxury residential market. Tan shares his vision of transforming SRI into a thought leader in the industry, known for its high standards, niche expertise, and client-centric approach.

Former head of KFPN, Evan Chung, who now joins SRI as a leader, explains his decision to move, citing the agency’s dedication to providing effective tools, comprehensive support, and expert coaching for its agents. He also praises the open and collaborative culture at SRI, which makes them feel supported as professionals and as a team striving for excellence. Chung believes that SRI’s platform will be a great opportunity to grow their business and serve their clients in the residential, commercial, and industrial market segments, as well as auctions and international properties.

With the departure of Chung and other real estate agents, KFPN’s sales force has decreased to 145 agents, and its ranking has dropped from the sixth to the eighth-largest agency, based on CEA public register figures as of Jan 1. However, Knight Frank Singapore’s CEO, Galven Tan, reassures that it is business as usual at KFPN. He mentions that they are in the process of appointing a new head to lead KFPN and evaluate the team’s strengths and expertise to position the agency strategically for future opportunities.…