More property agents throwing in the towel

Singapore

MORE casualties in Singapore's real estate agency business have emerged during the latest licence-renewal period with the Council for Estate Agencies (CEA), but agency honchos are split in their views on whether the worst is over for the industry.

Many of the 30 largest agencies, which account for nearly eight in 10 of the more than 30,000 registered salespersons here, lost a significant number of their agents after the October-to-December CEA-licence renewal period. Of the 30 agencies, 22 have been left with fewer agents this month than last month; ECG property and HSR International Realtors shrank the most in percentage terms.