PropNex, Singapore’s leading real estate agency, is forecasting a promising outlook for 2025, buoyed by strong private resale and new launch volumes. The company’s CEO, Ismail Gafoor, highlighted the resilience of the market despite recent changes to the Sellers’ Stamp Duty (SSD) rates. With approximately 13,600 agents, PropNex is well-positioned to capitalise on the stable transaction volumes in both public and private residential markets, UOB Kay Hian reported.
In the private resale sector, over 2,900 homes were sold in the second quarter of 2025, adding to the 3,565 sold in the first quarter. This positions the market to potentially exceed the 14,053 homes sold in 2024. New launch sales are also on the rise, with nearly 5,430 units launched so far and an additional 7,670 units expected by the end of the year. PropNex estimates that 8,000 to 9,000 new launch units will be sold in 2025, marking a 24-39% increase year-on-year.
The company remains optimistic that the revised SSD rates will not significantly impact prices or transaction volumes. Historically, sales remained robust after similar SSD revisions, only affected by the introduction of the Total Debt Servicing Ratio in 2013.
PropNex’s financial health is strong, with a net cash position of $82m (S$112m) at the end of 2024. The company anticipates reporting a 45% year-on-year increase in revenue for the first half of 2025, driven by Singapore’s vibrant property market.
Looking ahead, PropNex expects continued strong sell-through of new property launches, which could positively impact earnings in the second half of 2025. The company maintains a “BUY” rating with a target price of $0.99 (S$1.35), reflecting confidence in its asset-light business model and potential for shareholder rewards.
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