PropNex Tracy Goh Head of Capital Markets

Tracy Goh of PropNex Realty Singapore – En Bloc Services

Contact Tracy Goh, Call: +65 9001 0711 or Email:

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Latest En Bloc Projects Sold By PropNex

Singapore Collective Sales Revival in 2021

The real estate market in Singapore is buzzling with this topic; almost all owners, condominiums, apartments, landed, industrial are all asking themselves this question: Should my property go en bloc in 2021?

To understand how collective sale is driven, there are various indicators:

Singapore En Bloc Fever Started in 2017

En Bloc Fever Started in 2017

In the 2017-2018 en bloc fever, it was driven primarily by low inventory of new launches.

Following the seller’s stamp duty (SSD) that was reduced from 4 years to 3 years in March 2016, the market made a turn and many started to commit their purchases in new launches and the inventory dropped dramatically to the surprise of many developers stirring up demand for GLS land sites as well as for collective sales.

Overprice Leads to Overall Failure

However, in 2018, many owners who started their collective sales demanded more for their lands leading to failed tenders.

So far, we have more than 90 projects that went to tender stage and failed to get a buyer.

Cooling Measures Freezing Effects

When government introduced the additional 5% buyer’s stamp duty (ABSD) on 6 July 2018 on top of the normal buyer’s stamp duty to cool the collective sale market,

The total collective sales sold from May 2017 to July 2018 was almost $20 billion and the market was not prepared for this cooling measure.

Naturally, things went into hibernation mode.

Cooling Measures Freezing Effects On Residential En Bloc Sales
Unexpected Good New Launch Sales Prompt Developers to Look for New Lands

Unexpected Good New Launch Sales

Developers resolutely launched their new launches in 2019 and 2020 and were rewarded with unexpected good sales beyond their imagination.

the Linq @ beauty world was sold at 96%, The M, Penrose and The Clavon were 70% sold at launch!

These good sales results sent a very clear signal to all other developers; mass market demand is huge.

Developers Still Looking for Potential Sites

When the new launch sales went up, so does the revenue. After accumulate enough war funds, developers are looking for potential sites to be redeveloped and add to their land bank.

The en bloc property market is heating up again,

You do not want to miss this opportunity

It’s time to go for collective sale. Act Now!

Housing Grants Are Goodies

And what drives mass market demand? In September 2019, government introduced the enhanced CPF housing grant (EHG) and a first-time buyer who earns less than S$1500 can get up to $80,000 under EHG and get S$50,000 for resale grant and another S$30,000 for proximity grant.

This adds up to a Total of S$160,000!  EHG grant is available to all who earn less than S$9,000 a month. The higher you earn, the lesser the grant.

Housing Grants Are Goodies

This has caused many young couples or singles to purchase a HDB resale flat and that allows those who sold to upgrade and buy new launches units.

Generally, all markets pick up including the resales condos and landed properties as upgraders continue to ascend.

The pandemic year 2020 did not dampen that aspiration to upgrade.

Putting things into perspective, those who are affected by retrenchment are only a small number.

Businesses did fail, some were reborn into new businesses, digitalization become a must, and government’s wage support schemes and various jobs creation support amalgamating to almost $10 billion to save jobs and create jobs and all these add up to giving Singaporeans and PRs hope that Singapore will pull through the recession and emerge stronger after the crisis.

Despite COVID-19 there is Stability in Real Estate Market in Singapore

Stability in Real Estate Market

Singapore has shown herself to handle the pandemic situation well; we recovered without a second wave, life went back to almost normal, children can go back to school and all these add up to one thing: Confidence in Singapore and the upgrading continues and real estate market picks up.

The good residential sales results automatically translate to demand for land. Revival has started and those who act fast, priced reasonably will see their lands sold.

What are you waiting for? Contact us immediately for a private and confidential discussion.

Selling En Bloc Always Fetches You More Sell Now or Wait for 10 years

Get started with a Collective Sales Committee and appoint a Marketing Agent Right Now. Cash in on this frenzy.

PropNex Realty Singapore is Happy to offer this En Bloc Services

Contact Us Today and be the next millionaires.

Call Now At: +65 9001 0711 or Email to:

Singapore Propnex Realty The Largest Real Estate Agency

PropNex Realty – Singapore Largest Property Agencies

In the on-going realty boom in Singapore, the number of realty agents in a company is often seen as the best example of company’s reach and prowess. And going by the head count of agents there is a new leader in the bloc. 

PropNex Realty has just claimed the throne of being the largest property agency in Singapore. With 6,688 agents it has edged past ERA Realty which had held the title so far. Interestingly this development comes after more than 80% of the agents at DWG (Dennis Wee Group) crossed over to PROPNEX Realty post the recent merger between the two. The company which has already been foraying into the international market sees this as a significant event in its journey.

As per the latest data released by the Council for Estate Agencies, PropNex’s headcount of agents swelled to 6,688 going past ERA Realty whose head count stood at 6,176. ERA Realty had been the reigning king for quite some time now and the latest development is being seen as a momentous event in the local realty market.

This is the latest merger in a series of such agreements that we have witnessed being signed in the recent times as the industry braces up for more consolidations. However, what is interesting in this merger is that there has been no transfer of equity between the two firms and neither has there been a dollar value assigned to the deal.

The nearly 7000 agents are expected to take the company to greater heights as it already enjoys good reputation in the market. The team which has always focussed on delivering excellence is seeing this major shot in the arm.

After the MoU was signed between DWG and PropNex both of which are home grown agencies 845 out of 1,063 agents formerly associated with DWG have given their consent to the PropNex Associate Agreement.

According to a statement released by the official spokesperson of PropNex close to 88% if DWG’s active salesmen who were in the S$50,000 or more earning bracket have switched over to the company post the merger.

The spokesperson further added that with respect to the remaining 218 agents who haven’t signed the deal there had been no transactions with 105 salesmen over the last 12-month cycle and hence they would be accounted as inactive. The number of agents who didn’t consent to be a part of the transfer stood at mere 113, most of whom would continue to work with other agencies.

Ismail Gafoor, CEO of PropNex seemed spirited having been able to retain most of the active agents who had been associated with DWG prior to the merger. He said that once the news of the merger started making rounds in the market many PropNex’s competitors did everything possible to lure the agents to join their team but PropNex still managed to retain 88% of the active salesperson which is testimony to the fact that the agency has been providing with the best opportunities for the salesperson to grow.

He added that PropNex has the ecosystem that supports agents and it will ensure that the new agents who have joined the team would be provided the best of support and opportunities.

PropNex Annual Convention 2018
PropNex Annual Convention 2018 Award Ceremony
PropNex Realty Provides Excellent Service & Service You Trust

PropNex has always come up with initiatives that help it in maintaining an agile workforce that understand the pain point of the customers and help them find the best properties within their budget. The new agents joining its team would undergo the same intensive that have helped in create a seasoned team of realty professionals who have been delivering results for the company in the last decade.

Lead by a visionary management team the company has always invested in creating a world-class and winning team which has helped the company grow and take giant strides towards expanding the business in the international market.

The company has been offering a wide range of services and solutions to the market that include developing business strategies, consultancy, market support, innovative technologies and training to its clients as an end-to-end solutions provider in Singapore’s realty market.

It has streamlined its operations to meet the changing aspirations of the homebuyers and complements it with comprehensive after sales support to ensure clients have a pleasing experience at all stages of property buying. Its commitment of providing dedicated services to its clients has helped them company create a distinct competitive edge and earned accolades from its customers.

The company’s commitment to excellence has made it an unstoppable workforce. It isn’t focused on realty business alone or in the idea of profiteering but s committed towards making important contributions towards the development of the community. It is empowering youngsters through education and has also been involved in several charity projects and has lent its support to important causes that have brought about meaningful change to the lives of thousands of ordinary people.