A recent review of ERA Realty Network which is listed as APAC Realty on the Singapore stock exchange has bring in good reviews among brokers due to the strong financing as well as the recovery of the real estate market. Yesterday, APAC Realty announced its 4Q19 earnings, which came in at $5.5 million, 33.3% higher than $4.1 million a year ago due to stronger revenue growth from new launches as well as better market share as the number of property agents that ERA now encompasses has increased. Please also see the latest new launch at Midtown Gardens Project Details by Guocoland located right at the heart of the city. The group also plans to expand overseas to gain more exposure in the real estate market. Though some companies may not be too optimistic, others are looking forward to the overseas expansion of Apac Realty.
Jack Chua, executive chairman and CEO of APAC Realty mentioned that ERA continues to be a leading property agency in Singapore and it is committed to providing more trainings to its real estate salesperson given that the real estate market has became more robust lately. Technological advances has made agents more productive in the quest to match owner’s listings with buyer’s expectations. The better 4Q performance was due to higher brokerage income contribution from new home sales, which jumped 79% y-o-y to $42.1 million.
Analyst are also confident that the international real estate scene also contribute to ERA performance as the international real estate scene continue to be robust and there is demand for overseas real estate as well. With upcoming new launches that are due in Singapore and ERA being the real estate agency of choice from property developers, there is also an expected continual income stream from the property agency as well. The agency also expects overseas agent numbers to increase as well given that real estate markets such as Thailand and Vietnam receives good response from overseas investors as well. Also, developer sales and the resale market have so far been holding up despite fears of pullback due to the Covid-19 outbreak. The virus might be short-lived and recovery is expected.