Singapore Property Brokers Looking Abroad
A recent news article in The Business Times has highlighted how Singapore's real estate brokerage houses are now having to look further afield given the country's residential market downturn.
According to the piece the current state of affairs is not unlike falling off a cliff with agencies reporting a downturn of 20-50% on profits.
Many brokerage houses are no looking at opportunities to sell overseas properties to stem the downward trend.
A high cost of fixed overheads such as office rentals and staff are being cited as reasons why agencies have to now concentrate on top live revenue enhancement.