Tailwinds giving property agencies a boost

OVER a year on, fears that the pandemic would roil the property market appear to be unfounded, and property developers aren't the only ones benefiting from buoyant demand.

Real estate agencies are also seen to be turning in a strong report card this earnings season, thanks to a steady stream of deals across the private residential market as well as the HDB resale market.

Singapore's largest property agency PropNex on Wednesday reported a net profit of S$16.52 million for the second quarter ended June 30, 2021, more than doubling from S$7.26 million from the corresponding quarter a year ago, boosted by topline growth.