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PropNex, ERA dominate in HDB resale and leasing transactions

The two agencies' pole positions in the HDB resale brokerage business also generate ample leads for new private home sales, enabling them to gain an advantage there as well: IREUS

Fiona Lam

Published Thu, Aug 19, 2021 · 05:50 AM

Singapore property

Singapore

PROPERTY agents from PropNex Realty and ERA Realty Network have brokered about 70 per cent of resale transactions of Housing and Development Board (HDB) flats every year since 2017.

In the residential leasing segment, both agencies - Singapore's largest two based on the number of salespersons - likewise accounted for the bulk of the deals, going by data from the Council for Estate Agencies (CEA).

The Institute of Real Estate and Urban Studies (IREUS) noted that PropNex's and ERA's pole positions in the HDB resale brokerage business also generate ample leads for new private home sales, enabling them to gain an advantage there as well.

"The two agencies have leveraged their hegemony in the public housing resale market, to secure a head start for their project marketing teams, especially in the upgrader market in the Outside Central Region," said Lee Nai Jia, deputy direct…