{"id":30297,"date":"2016-10-17T09:03:04","date_gmt":"2016-10-17T02:03:04","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/agents-closed-more-deals-amidst-drop-in-home-prices\/"},"modified":"2016-10-17T09:12:34","modified_gmt":"2016-10-17T02:12:34","slug":"agents-closed-more-deals-amidst-drop-in-home-prices","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/agents-closed-more-deals-amidst-drop-in-home-prices\/","title":{"rendered":"Agents closed more deals amidst drop in home prices"},"content":{"rendered":"


\nThe slide in private home prices is luring wary property seekers back into the market.
\nProperty agents are seeing an increase in transactions this year as the drop in private home prices is drawing buyers back into the market.
\nProperty agencies ERA Realty Network, OrangeTee and PropNex Realty revealed that their agents closed about 20 to 40 percent more transactions in the first nine months of 2016 compared to the same period last year, reported The Straits Times.
\n\u201cPrices have been sliding\u2026 and it has perhaps reached a level that potential buyers are somewhat comfortable with,\u201d said PropNex CEO Mohamed Ismail.
\nProperty agent Daryl Ou, for instance, even managed to achieve his sales target for the year in June.
\n\u201cI managed to close more transactions this year; they have increased about 50 percent year-on-year\u2026 I see more opportunities because of renewed buyers\u2019 interest and several upcoming project launches,\u201d said Ou, an Associate District Director at Huttons Asia.
\nPrivate home prices fell 10.8 percent from its peak in Q3 2013. A drop of that magnitude following years of steady increases was enough to lure wary home seekers.
\nIn fact, private residential transactions, both new and resale, increased 6.8 percent to 11,254 units in the first nine months of the year from 10,533 over the same period in 2015, said Knight Frank.
\nOrangeTee agents saw private residential deals increase by 40 percent, 25 percent for PropNex Realty and 20 percent for ERA Realty Network.
\n\u201cWith cooling measures expected to remain unchanged and interest rates still relatively low, some of these buyers have decided to deploy their capital and enter the market,\u201d said OrangeTee Managing Director Steven Tan.
\nFor the first nine months of 2016, resale deals increased to 5,587 units from 4,696 last year. Sales of new units, however, dipped to 5,667 during the first nine months of this year from 5,837 previously.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Agents closed more deals amidst drop in home prices<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The slide in private home prices is luring wary property seekers back into the market....<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-30297","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-7SF","jetpack-related-posts":[{"id":107763,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/propnex-among-top-two-agencies-for-new-launches\/","url_meta":{"origin":30297,"position":0},"title":"PropNex among top two agencies for new launches","date":"June 4, 2019","format":false,"excerpt":"\r It is currently Singapore\u2019s biggest real estate agency, in terms of the number of agents. Although it has not been among the first port-of-calls among property developers for new launches, PropNex is recently gradually earning market share in this particular segment, revealed a Phillip Securities report. In fact, it\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8190,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/propnex-bucks-trend-with-200m-in-commissions\/","url_meta":{"origin":30297,"position":1},"title":"PropNex bucks trend with $200m in commissions","date":"March 9, 2016","format":false,"excerpt":"\r Mohamed Ismail, CEO of PropNex Realty. (Photo: PropNex) Despite Singapore\u2019s sluggish property market, PropNex Realty saw gross commissions soar to a record high of $200 million in 2015, while transaction volume surpassed 40,000 for the first time. In a statement, the real estate agency said its strong financial results\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":104229,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gap-to-transfer-its-property-agents-to-propnex-realty\/","url_meta":{"origin":30297,"position":2},"title":"GAP to transfer its property agents to PropNex Realty","date":"February 21, 2019","format":false,"excerpt":"\r PropNex further strengthens its position as Singapore\u2019s largest listed real estate agency with over 7,500 salespersons. Global Alliance Property (GAP), which operates under the Century 21 franchise, has signed a strategic collaboration with PropNex Realty, whereby GAP\u2019s property agents will be transferred to the latter. With the transfer of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":48810,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/propnex-realty-ventures-into-indonesia-to-target-wealthy-buyers\/","url_meta":{"origin":30297,"position":3},"title":"PropNex Realty ventures into Indonesia to target wealthy buyers","date":"March 20, 2017","format":false,"excerpt":"\r Group photo of PropNex CEO Mohamed Ismail with some of the agents from Indonesia. Property agency PropNex Realty embarked on its first regional expansion into Indonesia in the second half of 2016 to access a larger pool of potential buyers, especially those interested in purchasing Singapore luxury properties. \u201cWe\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":39585,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/home-prices-may-drop-further-in-2017\/","url_meta":{"origin":30297,"position":4},"title":"Home prices may drop further in 2017","date":"January 4, 2017","format":false,"excerpt":"\r Private home prices in Singapore could drop by up to 3.5 percent this year, says one analyst. Despite signs of a bottoming out, private home prices are expected to ease further this year, albeit at a gradual pace, reported The Straits Times. 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Prices of HDB resale flats remained unchanged during the second quarter, after dipping by 0.1 percent in the first three months of 2016, according to more detailed public housing data published by the Housing\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/30297"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=30297"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/30297\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=30297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=30297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=30297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}