“I’m not sure I want the ‘old bird’ agent,” was the phrase that surprised me this week.
In most situations, people would want a veteran on their side. Most of us prefer the older and more experienced doctor, the 20-year career driver, or the lawyer who was practising before Bugis Street was air-conditioned.
But things are a bit different regarding real estate agents in Singapore. Not all agents are qualified the same way, as in the past there wasn’t a formal exam you had to pass.
As such among more savvy buyers, the number of years served is no longer the main qualifier; rather, it’s about where and how often the agent has transacted recently.
I think the public is beginning to catch on, that there are some real estate agents who have been licensed (and bother to renew their licenses) for years on end, whilst making very few transactions.
Now there are legitimate reasons for some agents to do this; but I do see the potential downsides from buyers. Sometimes, agents who don’t transact for long periods, but jump back into the market recently, end up being a bit behind on things. Case in point, the viability of older strategies like sell-one-buy-two (much tougher at today’s prices), or advice on HDB flats.
(For those who don’t know: the whole Plus/Prime/Standard categorisation has shaken up the market, especially for resale units near Prime flats, which don’t have the same limitations).
Some of these older property agents as well may not quite be aware that comparing properties by psf isn’t very relevant anymore, or be up to date in terms of new launches and new supply that is coming up in the market.
The senior managers at various real estate firms are supposed to have this in hand, with constant training and reviews. But due to the free-form nature of the industry, there will always be some who skim over the training, or who slip through the cracks.
CEA seems to be aware of this as well. They’re now considering a minimum transaction condition, for agents to be able to renew their license. And while I think they might go ahead with this, the issue will come down to what that minimum transaction requirement will be - this is an industry where, sometimes, simple bad luck may result in some agents not meeting those targets.
Maybe if you nab a good agent, you can end up with a $4.3 million profit like someone just did
It’s for a penthouse unit at JadeScape, which is the chart-topper for the week. It’s also a chart-topper at JadeScape: this 99-year lease unit is a whopping 4,230 sq.ft., on the 23rd floor. It was bought for $5.8 million in December 2019 and just sold for $10.15 million on 9th December this year.
That’s an annualised return of 15 per cent. I don’t know who’s behind the transaction, but if it’s an agent with a two per cent commission, then the whole of 2025 is Christmas for them.
Don’t ask me for a good reason why anyone would pay that though. JadeScape is a good condo, but this has to be a pure own stay choice given the number of options such a budget would allow for.
But as the old saying goes: Everything is worth what someone will pay for it.
Beyond all this, we’d like to take this opportunity to wish everyone a Merry Christmas and Happy Holidays!
I’ve always thought that, if Santa Claus does deliver presents from openings like a chimney, he’d find Singapore super convenient. One garbage chute can provide rapid access to every home; no need to clamber through multiple openings.
(Granted, that does mean your presents will be dispensed via the garbage chute, and Santa definitely won’t smell like Christmas joy afterwards. So maybe I haven’t fully thought that through.)
In any case, from me and everyone at Stacked: May your holidays be a joyful time to reconnect and refresh, and may the coming year be a great one.
Meanwhile in other property news:
- Big HDB flats are the price of about 10 stolen kidneys or something these days, but we managed to find huge flats (1,600 sq. ft.) for $800,000 and up.
- At today’s EC prices, are you better off just getting a private condo? Here are some thoughts on the price gap.
- What’s life like in a service apartment at Holland V? Here’s a look at what you get.
- These three HDB sites are not officially announced or anything, but we can literally see them being worked on right now. Here’s what to look for.
Weekly Sales Roundup (09 December - 15 December)
The challenge for many buyers today isn't access to information.
It's interpreting that information in a way that makes sense for their finances, goals, and stage of life.
Over time, that's also why we decided to work with agents who shared the same data-driven and advisory-led approach behind our editorial, consultants who could help readers think through decisions more objectively, rather than simply push transactions.
Today, the team has worked with more than 2,000 clients across over $5B in property transactions.
Top 5 Most Expensive New Sales (By Project)
| PROJECT NAME | PRICE S$ | AREA (SQFT) | $PSF | TENURE |
| TEMBUSU GRAND | $4,244,000 | 1711 | $2,480 | 99 yrs (2022) |
| GRAND DUNMAN | $3,836,000 | 1475 | $2,601 | 99 yrs (2022) |
| THE ARCADY AT BOON KENG | $3,773,000 | 1410 | $2,676 | FH |
| THE CONTINUUM | $2,940,000 | 1066 | $2,759 | FH |
| LENTORIA | $2,933,000 | 1346 | $2,180 | 99 yrs (2022) |
Top 5 Cheapest New Sales (By Project)
| PROJECT NAME | PRICE S$ | AREA (SQFT) | $PSF | TENURE |
| KASSIA | $1,049,000 | 474 | $2,215 | FH |
| JANSEN HOUSE | $1,463,888 | 721 | $2,030 | 999 yrs (1876) |
| THE MYST | $1,586,000 | 678 | $2,339 | 99 yrs (2023) |
| HILLHAVEN | $1,592,274 | 721 | $2,208 | 99 yrs (2023) |
| CANNINGHILL PIERS | $1,720,000 | 484 | $3,551 | 99 yrs (2021) |
Top 5 Most Expensive Resale
| PROJECT NAME | PRICE S$ | AREA (SQFT) | $PSF | TENURE |
| JADESCAPE | $10,150,000 | 4230 | $2,399 | 99 yrs (2018) |
| JUNIPER AT ARDMORE | $9,000,000 | 3197 | $2,815 | FH |
| HILLTOPS | $5,980,000 | 1733 | $3,451 | FH |
| RICHMOND PARK | $4,750,000 | 1550 | $3,064 | FH |
| ONE ROBIN | $4,110,000 | 1948 | $2,110 | FH |
Top 5 Cheapest Resale
| PROJECT NAME | PRICE S$ | AREA (SQFT) | $PSF | TENURE |
| LA BRISA | $730,000 | 452 | $1,615 | FH |
| # 1 LOFT | $735,000 | 560 | $1,313 | FH |
| KENG LEE COURT | $760,000 | 474 | $1,605 | FH |
| HILLSTA | $760,000 | 570 | $1,332 | 99 yrs (2011) |
| AIRSTREAM | $780,000 | 495 | $1,575 | FH |
Top 5 Biggest Winners
| PROJECT NAME | PRICE S$ | AREA (SQFT) | $PSF | RETURNS | HOLDING PERIOD |
| JADESCAPE | $10,150,000 | 4230 | $2,399 | $4,350,000 | 5 Years |
| JUNIPER AT ARDMORE | $9,000,000 | 3197 | $2,815 | $2,100,000 | 18 Years |
| COSTA RHU | $3,080,000 | 2056 | $1,498 | $2,041,720 | 26 Years |
| THE HORIZON | $3,460,000 | 1561 | $2,217 | $1,805,000 | 24 Years |
| HARVEST MANSIONS | $2,570,000 | 1981 | $1,298 | $1,771,112 | 18 Years |
Top 5 Biggest Losers
| PROJECT NAME | PRICE S$ | AREA (SQFT) | $PSF | RETURNS | HOLDING PERIOD |
| UP@ROBERTSON QUAY | $985,000 | 463 | $2,128 | -$287,000 | 12 Years |
| THE CLIFT | $1,100,000 | 527 | $2,086 | -$220,000 | 12 Years |
| STEVENS SUITES | $2,000,000 | 1109 | $1,804 | -$174,000 | 12 Years |
| MARINA ONE RESIDENCES | $1,520,000 | 753 | $2,017 | -$147,081 | 5 Years |
| ONE SHENTON | $1,450,000 | 850 | $1,705 | -$139,540 | 17 Years |
Transaction Breakdown
Merry Christmas once again, and we look forward to seeing you with us on Stacked this coming year.
At Stacked, we like to look beyond the headlines and surface-level numbers, and focus on how things play out in the real world.
If you'd like to discuss how this applies to your own circumstances, you can reach out for a one-to-one consultation here.
And if you simply have a question or want to share a thought, feel free to write to us at stories@stackedhomes.com. We read every message.
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