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Abysmal sales deal body blow to agencies
More than 60 exit property business in 2013; over half of the remainder expected to sink into the red
Published Wed, Oct 8, 2014 · 09:50 PM
Singapore
WITH private residential sales falling off a cliff following several rounds of cooling measures, even some of Singapore's largest real estate agencies are reeling from profit slumps of as much as 20 to 50 per cent this year.
Several key executive officers of real estate agencies also project that over half of the 1,425 registered agencies here could find themselves in the red. A significant number of their agents have turned inactive, or not clocking in any sales in the past one year.
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