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I AM WORRIED FOR MY CHIOBU PROPERTY AGENTS!
Mon, 12 January 2026 at 5:00 am SGT
5 min read
Data from the Council for Estate Agencies showed there was a drop of about 10 per cent in the number of property agencies over the past three years.
SINGAPORE – The number of property agencies here is dropping amid rising operating costs and stricter regulatory requirements, and slower overall growth in the number of property agents.
Latest figures from open government data portal Data.gov.sg showed that the number of property agencies with valid registrations fell by 47 from 2025, taking the total down to 998 as at Jan 1, 2026.
Data from the Council for Estate Agencies (CEA) public register showed there were 1,118 agencies at the start of 2023, so the decline represents about a 10 per cent drop over the past three years.
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Despite the fewer agencies, the number of registered property agents grew by 2.15 per cent year on year to about 36,835 agents as at Jan 1, easing slightly from the 2.2 per cent growth recorded the previous year and 2.4 per cent in 2024, Huttons Data Analytics figures showed.
Industry players attributed the drop in the number of agencies and slower agent growth to rising operating and advertising costs, tighter anti-money-laundering (AML) compliance requirements, higher training obligations and retirements among older agency owners.
Under the expanded framework, which took effect on July 31, 2025, property agents must conduct stricter due-diligence checks on both clients and unrepresented parties in a transaction, and verify sources of funds for high-risk deals. They are required to guard against proliferation financing – the provision of funds for the illicit development and supply of weapons of mass destruction and related materials.
The CEA said the changes align with international standards set by the Financial Action Task Force.
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After considering the feedback from the industry, property agents and agencies were given more time to familiarise themselves with the new rules. CEA expects transactions to fully comply with the revised requirements from Jan 1, 2026.
Mr Mark Yip, chief executive of Huttons Asia, said rising compliance costs linked to stricter AML rules are adding pressure on smaller agencies.
Demographic factors are also at play, with the key executive officers of some boutique agencies in their 60s and 70s deciding to retire. The increase in continuing professional development requirements – from six to nine hours in 2025 to 16 hours in 2026 – and mergers for cost efficiencies are also contributing to exits and consolidation, said Mr Yip.
After running Chronicles Realty as the sole operator for. more than 30 years, Madam Irene Tan, 77, shuttered the agency at the end of 2025. -> THIS KIND OF FUCKERS REFUSED, DIE DIE WANT MORE $$$!
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She said: “For the past few years, I had been relying on my friend to help me with the checks. But the stricter requirements require a lot more paperwork and screening of clients. I am not familiar with the process and I cannot keep asking friends for help.”
Advertising expenses have also climbed, squeezing margins further, added Madam Tan.
Hence, when her agency’s registration with CEA expired in December 2025, she decided not to renew it. Instead, she joined Ripton Realty, which let her focus on sales while they supported her with the paperwork and compliance checks for a share of her sales commissions, said Madam Tan.
Mr David Sing, 75, who ran Asia USA Realty (Singapore) Asiahomes.com on his own, similarly chose to shut his agency and retire in 2026 after the stricter AML rules came into force. He cited the growing burden of paperwork and compliance checks.
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Ms Alicia Chua, key executive officer of Ripton Realty, said besides Madam Tan, four agents joined the firm from another agency that shut in 2025.
Ms Chua, who runs the agency with 41 agents, said overheads have risen steadily in recent years, with agencies needing to provide more administrative support and training while absorbing higher marketing and operating expenses. She added that AML screening fees were already up significantly even before the enhanced rules kicked in.
Unlike large agencies, smaller firms also have to subscribe to multiple external platforms to access transaction data, as they do not have the economies of scale to develop their own in-house digital systems, further adding to costs, said Ms Chua.
Mr Justin Quek, deputy group chief executive of Realion (OrangeTee & ETC) Group, said agencies today are not only navigating rising operating costs and tighter regulatory and compliance requirements, but also intensifying competition driven by evolving consumer expectations and more complex business needs.
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“These pressures can be more challenging for smaller firms with limited resources, while some mid-sized agencies may choose to merge in order to achieve greater operational resilience,” said Mr Quek.
As at Jan 7, PropNex Realty maintained its position as the largest agency with more than 14,000 registered agents.
Mr Eddie Lim, chief agency officer of PropNex, said the agency recorded a net growth of 1,310 salespersons, or a 10.37 per cent year-on-year increase from Jan 1, 2025.
Mr Lim expects the number of agencies to continue shrinking over the next three to five years as consolidation continues.
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“Agencies with strong (economies of) scale, robust compliance frameworks, and the ability to invest in technology and training will be better positioned to operate sustainably amid rising costs and regulatory expectations,” said Mr Lim.
ERA is the second-biggest with 8,468 agents, followed by Huttons Asia with 5,784 agents. OrangeTee & Tie is in fourth place with 2,559 agents, while SRI is fifth with 1,630 agents, according to data from the CEA portal.
Fewer property agencies, slower agent growth amid rising costs, tighter anti-money laundering rules
Joyce LimMon, 12 January 2026 at 5:00 am SGT
5 min read
Data from the Council for Estate Agencies showed there was a drop of about 10 per cent in the number of property agencies over the past three years.
SINGAPORE – The number of property agencies here is dropping amid rising operating costs and stricter regulatory requirements, and slower overall growth in the number of property agents.
Latest figures from open government data portal Data.gov.sg showed that the number of property agencies with valid registrations fell by 47 from 2025, taking the total down to 998 as at Jan 1, 2026.
Data from the Council for Estate Agencies (CEA) public register showed there were 1,118 agencies at the start of 2023, so the decline represents about a 10 per cent drop over the past three years.
Advertisement
Despite the fewer agencies, the number of registered property agents grew by 2.15 per cent year on year to about 36,835 agents as at Jan 1, easing slightly from the 2.2 per cent growth recorded the previous year and 2.4 per cent in 2024, Huttons Data Analytics figures showed.
Industry players attributed the drop in the number of agencies and slower agent growth to rising operating and advertising costs, tighter anti-money-laundering (AML) compliance requirements, higher training obligations and retirements among older agency owners.
Under the expanded framework, which took effect on July 31, 2025, property agents must conduct stricter due-diligence checks on both clients and unrepresented parties in a transaction, and verify sources of funds for high-risk deals. They are required to guard against proliferation financing – the provision of funds for the illicit development and supply of weapons of mass destruction and related materials.
The CEA said the changes align with international standards set by the Financial Action Task Force.
Advertisement
After considering the feedback from the industry, property agents and agencies were given more time to familiarise themselves with the new rules. CEA expects transactions to fully comply with the revised requirements from Jan 1, 2026.
Mr Mark Yip, chief executive of Huttons Asia, said rising compliance costs linked to stricter AML rules are adding pressure on smaller agencies.
Demographic factors are also at play, with the key executive officers of some boutique agencies in their 60s and 70s deciding to retire. The increase in continuing professional development requirements – from six to nine hours in 2025 to 16 hours in 2026 – and mergers for cost efficiencies are also contributing to exits and consolidation, said Mr Yip.
After running Chronicles Realty as the sole operator for. more than 30 years, Madam Irene Tan, 77, shuttered the agency at the end of 2025. -> THIS KIND OF FUCKERS REFUSED, DIE DIE WANT MORE $$$!
Advertisement
She said: “For the past few years, I had been relying on my friend to help me with the checks. But the stricter requirements require a lot more paperwork and screening of clients. I am not familiar with the process and I cannot keep asking friends for help.”
Advertising expenses have also climbed, squeezing margins further, added Madam Tan.
Hence, when her agency’s registration with CEA expired in December 2025, she decided not to renew it. Instead, she joined Ripton Realty, which let her focus on sales while they supported her with the paperwork and compliance checks for a share of her sales commissions, said Madam Tan.
Mr David Sing, 75, who ran Asia USA Realty (Singapore) Asiahomes.com on his own, similarly chose to shut his agency and retire in 2026 after the stricter AML rules came into force. He cited the growing burden of paperwork and compliance checks.
Advertisement
Ms Alicia Chua, key executive officer of Ripton Realty, said besides Madam Tan, four agents joined the firm from another agency that shut in 2025.
Ms Chua, who runs the agency with 41 agents, said overheads have risen steadily in recent years, with agencies needing to provide more administrative support and training while absorbing higher marketing and operating expenses. She added that AML screening fees were already up significantly even before the enhanced rules kicked in.
Unlike large agencies, smaller firms also have to subscribe to multiple external platforms to access transaction data, as they do not have the economies of scale to develop their own in-house digital systems, further adding to costs, said Ms Chua.
Mr Justin Quek, deputy group chief executive of Realion (OrangeTee & ETC) Group, said agencies today are not only navigating rising operating costs and tighter regulatory and compliance requirements, but also intensifying competition driven by evolving consumer expectations and more complex business needs.
Advertisement
“These pressures can be more challenging for smaller firms with limited resources, while some mid-sized agencies may choose to merge in order to achieve greater operational resilience,” said Mr Quek.
As at Jan 7, PropNex Realty maintained its position as the largest agency with more than 14,000 registered agents.
Mr Eddie Lim, chief agency officer of PropNex, said the agency recorded a net growth of 1,310 salespersons, or a 10.37 per cent year-on-year increase from Jan 1, 2025.
Mr Lim expects the number of agencies to continue shrinking over the next three to five years as consolidation continues.
Advertisement
“Agencies with strong (economies of) scale, robust compliance frameworks, and the ability to invest in technology and training will be better positioned to operate sustainably amid rising costs and regulatory expectations,” said Mr Lim.
ERA is the second-biggest with 8,468 agents, followed by Huttons Asia with 5,784 agents. OrangeTee & Tie is in fourth place with 2,559 agents, while SRI is fifth with 1,630 agents, according to data from the CEA portal.
