When evaluating a potential investment in a condo, it is crucial to also consider the potential rental yield. This refers to the annual rental income as a percentage of the condo’s purchase price. In Singapore, rental yields for condos can vary significantly based on factors like location, property condition, and market demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, offer more attractive rental yields. Conducting thorough market research and seeking guidance from real estate agents can provide valuable insights into the rental potential of a particular condo. For more information, visit Condo.
Estate agencies ETC (formerly Edmund Tie) and OrangeTee Group have announced their merger in a joint press release on Feb 24. The new holding company, with yet undisclosed name, will not be an acquisition but a collaboration between the two entities. Desmond Sim, CEO of ETC, states, “It’s a meeting of minds with the merger.” As CEO of ETC, Sim will also be the group CEO of the merged company. Justin Quek, CEO of OrangeTee & Tie, will be the deputy group CEO of the new holding company. The focus of ETC will primarily be on consultancy and advisory services, while OrangeTee will focus on proptech and their real estate agency business supported by a network of 2,803 salespersons registered with the Council for Estate Agencies (CEA) as of Feb 24. The merged entity will have over 520 staff in addition to the sales force. Sim believes that by combining expertise, resources, and networks, there will be significant growth and value for stakeholders in the ever-changing real estate landscape. This merger is built on the August 2017 joint venture when the former Edmund Tie and OrangeTee merged the associates’ business under a new entity, OrangeTee & Tie. This joint venture resulted in a sales force of more than 4,000 agents, propelling OrangeTee & Tie to the third spot among the three top agencies. Since then, Edmund Tie has taken a 20% stake in OrangeTee & Tie. Triplestar Holdings and TH Investments, major stakeholders, have facilitated this latest merger between ETC and OrangeTee. These entities, related to the family of Roland Ng, managing director and group CEO of Tat Hong Holdings, acquired a stake in ETC through a management buyout in 2016. When some of the original shareholders retired, the company bought back their shares, increasing Triplestar and TH Investments’ stake to about 60%. These two entities now own 100% of ETC. This year is ETC’s 30th anniversary, a significant milestone according to Sim. ETC has been rebranded as ETC last year. OrangeTee Group is celebrating its 25th anniversary this year. Under the board of directors and C-Suites, which includes Quek, CEO of OrangeTee & Tie; Marcus Oh, managing director of OrangeTee Advisory; Teo Yak Huat, CFO; and Christine Sun, chief researcher and strategist, this investment holding company continues to grow. Quek believes the strengthened brokerage and consultancy team, along with advanced proptech, will help scale the capabilities to deliver innovative and seamless solutions across real estate sectors. Stakeholders in OrangeTee Group include Tokyu Livable Inc. with a 22.5% stake in the company since 2014. Tokyu Livable is one of Japan’s largest real estate agencies. It has 198 offices nationwide and is a subsidiary of real estate business Tokyu Fudosan Holdings, owned by the giant conglomerate Tokyu Group. Vogue Capital Group, a private property fund, is also a shareholder in OrangeTee Group. Vogue Capital and Tokyu Livable will also hold a stake in the new holding company post-merger alongside Ng’s Triplestar Holdings and TH Investments. ETC has also opened an office in Johor Bahru last year through its joint venture company in Malaysia, Nawawi Tie. The firm is also present in Penang and Malaysia, as well as an associate in Thailand, Edmund Tie & Co (Thailand). Sim believes that this merger will open more opportunities for the company in the ASEAN region and Japan, especially through their relationship with Tokyu Livable. Private residential resale prices in held steady in the third quarter of 2024.