In summary, purchasing a condominium in Singapore presents a plethora of advantages, such as a strong demand, potential for increased value, and appealing rental yields. Nevertheless, it is crucial to carefully assess various factors, including the location, financing options, government regulations, and current market conditions. By conducting thorough research and seeking expert advice, potential investors can make well-informed decisions and maximize their returns in Singapore’s ever-evolving real estate market. Whether you are a local investor seeking to diversify your portfolio or a foreign buyer in search of a stable and profitable investment, the condominium projects in Singapore, such as those offered by Singapore Projects, provide a compelling opportunity worth considering.
On Jan 1, SRI, a real estate agency, made an announcement regarding the joining of 111 agents from Knight Frank Singapore’s agency business, KF Property Network (KFPN), led by its head, Evan Chung.
This move by the 111 agents is significant as it accounts for 40.5% of the 274 sales force at KFPN, which was ranked the sixth-largest property agency by the Council for Estate Agencies (CEA) as of Jan 1, 2024. With the addition of these agents, SRI’s agency sales force has increased to 1,501, making it the fifth-largest property agency at the start of 2025. This includes recruits from the four largest agencies in Singapore – PropNex, ERA, Huttons, and OrangeTee & Tie (OTT).
SRI was co-founded by managing partners Bruce Lye and Benson Koh in 2016, as a spin-off from SRI5000, which was established by the duo as a division of SLP Realty six years earlier. Starting with just 120 real estate agents and a modest 2,000 sq ft shop unit in Tiong Bahru, SRI has grown to become one of the top agencies in the country with a sales force of over 1,000. To accommodate its growth, SRI moved to a larger 4,200 sq ft office space at Great World in 2021.
The CEO of SRI, Thomas Tan, states that the agency has achieved a significant milestone by reaching close to 1,500 real estate agents and aims to expand the team to 2,000 by the end of 2025. This expanded sales force is expected to strengthen SRI’s existing business lines, which include residential, capital markets, industrial, auctions, and international projects. Tan also highlights the addition of the new agents from KFPN, describing them as being involved in big-ticket deals, which will complement SRI’s focus on luxury segments such as Good Class Bungalows (GCBs) and other high-end properties.
Despite its growth, SRI continues to maintain its position as a boutique agency with a strong emphasis on the luxury residential market. Tan shares his vision of transforming SRI into a thought leader in the industry, known for its high standards, niche expertise, and client-centric approach.
Former head of KFPN, Evan Chung, who now joins SRI as a leader, explains his decision to move, citing the agency’s dedication to providing effective tools, comprehensive support, and expert coaching for its agents. He also praises the open and collaborative culture at SRI, which makes them feel supported as professionals and as a team striving for excellence. Chung believes that SRI’s platform will be a great opportunity to grow their business and serve their clients in the residential, commercial, and industrial market segments, as well as auctions and international properties.
With the departure of Chung and other real estate agents, KFPN’s sales force has decreased to 145 agents, and its ranking has dropped from the sixth to the eighth-largest agency, based on CEA public register figures as of Jan 1. However, Knight Frank Singapore’s CEO, Galven Tan, reassures that it is business as usual at KFPN. He mentions that they are in the process of appointing a new head to lead KFPN and evaluate the team’s strengths and expertise to position the agency strategically for future opportunities.