Propnex *Official* (SGX:OYY)

[Dividends Warrior]

Looking forward to the next quarterly earnings.

 

[marytan]

Ho sei liao, I already sold all my propnex shares


CEA considering minimum transaction condition for property agents to renew licence​

From 2021 to 2023, an average of 40 per cent of property agents did not close at least one residential property transaction each year, CEA said.

But they noted that these agents could still be facilitating commercial or industrial property transactions, or are in leadership roles supervising other agents.

In the same period, an average of about 1,100 agents did not renew their registration each year.

“This reflects the dynamic nature of the industry, where professionals may exit due to career changes, personal reasons or retirement,” CEA added.

There were a total of 35,251 registered property agents at the start of 2024. This was up from 34,427 agents in 2023, and 32,414 in 2022.

https://www.straitstimes.com/singap...ondition-for-property-agents-to-renew-licence

 

[reddevil0728]

Ho sei liao, I already sold all my propnex shares​

​

​

CEA considering minimum transaction condition for property agents to renew licence​

From 2021 to 2023, an average of 40 per cent of property agents did not close at least one residential property transaction each year, CEA said.

But they noted that these agents could still be facilitating commercial or industrial property transactions, or are in leadership roles supervising other agents.

In the same period, an average of about 1,100 agents did not renew their registration each year.

“This reflects the dynamic nature of the industry, where professionals may exit due to career changes, personal reasons or retirement,” CEA added.

There were a total of 35,251 registered property agents at the start of 2024. This was up from 34,427 agents in 2023, and 32,414 in 2022.

https://www.straitstimes.com/singap...ondition-for-property-agents-to-renew-licence

why ho seh though?

 

[marytan]

why ho seh though?

bec i think their agent wil dwindle after the new law, all the sleeping agents will be kick out and they have less agent fees and administrative to collect.

no more advantage of bigger numbers

 

[DevilPlate]

bec i think their agent wil dwindle after the new law, all the sleeping agents will be kick out and they have less agent fees and administrative to collect.

no more advantage of bigger numbers

I don’t think simi agent fees/admin fees contribute meaningful portion to their revenue?

imo all depends on hdb resale and pte sales volume moving forward in 2025.

 

[Dividends Warrior]

Decent performance for the property market in 2024, especially in the 2nd half of the year.
Awaiting full-year results in Feb.

 

[Celibrium]

bec i think their agent wil dwindle after the new law, all the sleeping agents will be kick out and they have less agent fees and administrative to collect.

no more advantage of bigger numbers

If you go and take a look at the amount of $ the top 10% of the company earns, you will realise that even if we exclude the earnings brought in by the remaining 90%, the impact to their revenue will not even be noticeable. The amount of comms brought in by the top 10% or maybe 20% is likely way more than what the other 80-90% earn.

 

[reddevil0728]

bec i think their agent wil dwindle after the new law, all the sleeping agents will be kick out and they have less agent fees and administrative to collect.

no more advantage of bigger numbers

Eh they are like kicking out those with hardly any transactions leh.

Those transactions would end up being taken by someone else right. Which might be their own agents no?

 

[Euqorab]

Eh they are like kicking out those with hardly any transactions leh.

Those transactions would end up being taken by someone else right. Which might be their own agents no?

Guru you are right

it a zero sum game

 

[Dividends Warrior]

Eh they are like kicking out those with hardly any transactions leh.

Those transactions would end up being taken by someone else right. Which might be their own agents no?

Agreed. Size of the pie remains the same, but divided among less agents.
IMO this is probably a good move. It would motivate/push those agents to hit the minimum number of transactions per year. Secondly, it would flush out those incompetent, under-performing agents who couldn't get a single deal done within one year.
In other words, business as usual for Propnex.

 

[Dividends Warrior]

Broke above $1 today!

DBS: property cooling measures are not in the near horizon​

DBS, 17/1/2025
‌
Let nature take its course
- Government “not averse” to implementing more cooling measures on the property market if needed and prefers to “let the supply and demand side measures work through”
- We believe it is unlikely for property cooling measures to be implemented in the near horizon; overhang on agencies and developers should be lifted
- 2025 to be a year of volume growth, rather than price growth (our projection for PPI: +1-2%)
- Top picks: PropNex, APAC Realty, CDL and UOL
‌
What has happened.
We note media headlines that the Singapore Government remains on the watch on Singapore property market and is “not averse” in implementing more property cooling measures (if needed) to prevent a property bubble from forming, per comments from Mr. Desmond Lee, National Development Minister in a media briefing. That said, he also highlighted Government efforts in the past few years to (i) ramp up supply in the public housing market (more than 100,000 units launched for sale) and private property land tenders , (ii) cool demand through increasing additional buyer stamp duties (“ABSD”) back in 2023 and most recently, back in Aug’24, lowering the loan-to-value (“LTV”) for HDB resale homes to 75% (from 80%). These measures are likely to remain for now and to “let the supply and demand side measures work through”.
‌
Our view.
We are heartened to hear a clear messaging from the property cooling measures are not in the near horizon, which is in line with our view. A couple of weeks ago, there was an increasingly call by market participants that property measures were imminent. Back then, we argued that more balanced supply-demand dynamics would help to moderate price growth in the coming year. To reiterate, in 2025, we see volume growth as a key driver for the overall property market (new launch volumes to see 23%-30% y/y jump to 8,000-8,500 units) on the back of a robust pipeline of 13,000 units for launch. Price growth should ease to +1% to +2% for the year, down from +3.9% for 2024 and +6.8% for 2023. Our picks are PropNex (BUY, TP SGD 1.15) and APAC Realty (BUY, TP SGD 0.50) for agencies, and CDL (BUY, TP SGD 10.50) and UOL (BUY, TP SGD 8.40) for developers.

 

[Dividends Warrior]

First launch of the year did well.

As of 6 pm on Jan 19, the conclusion of its launch weekend, the 777-unit private condo The Orie had sold 668 units or about 86%. The average transacted price of the units sold was $2,704 per square foot (psf).

The 99-year leasehold condominium, located at Toa Payoh Lorong 1, is developed by a consortium comprising City Developments Ltd (CDL), Frasers Property, and Sekisui House.

In a joint statement, the developers attributed the strong sales at The Orie to pent-up demand for new homes in Toa Payoh.

https://www.edgeprop.sg/property-ne...ells-86-orie-launch-prices-averaging-2704-psf

 

[itedino]

Heard drop a lot ah

 

[reddevil0728]

Heard drop a lot ah

what dropped? i thought their share price was up?

 

[Dividends Warrior]

On Feb. 23, joint developers UOL Group and CapitaLand Development (CLD) announced that during the launch weekend of ParkTown Residence in Tampines North, they sold 1,041 units—over 87% of the total 1,193 units.

https://www.theedgesingapore.com/ne...n-residence-launch-day-average-price-achieved

 

[Dividends Warrior]

Final dividend 3c + Special dividend 2.5c

 

[Dividends Warrior]

Lentor Central Residences achieved 93% sales at launch.
Agents are working hard!

https://www.edgeprop.sg/property-ne...hieves-93-sales-average-price-2200-psf-launch

 

[Dividends Warrior]

On Mar 8, developer Sim Lian Group sold 682 units (90%) of its 760-unit executive condominium (EC), Aurelle of Tampines, located at Tampines Street 62. The units sold achieved an average price of $1,766 psf.

https://www.edgeprop.sg/property-news/sim-lians-aurelle-tampines-ec-90-sold-average-price-1766-psf

Look at the crowd!

 

[Dividends Warrior]

Home sales in Singapore jump to 3-month high!

https://sg.news.yahoo.com/singapore...ee-month-high-as-boom-persists-053240649.html

 

[Dividends Warrior]

This spells well for the CD in September. I'm expecting 2.5c - 2.7c in dividends.