Before diving into a condo investment, it is crucial to carefully consider the potential rental yield. This refers to the annual rental income as a percentage of the property’s purchase price. Rental yields for condos in Singapore can greatly vary, depending on factors such as location, property condition, and market demand. Generally, areas that have high rental demand, such as those near business districts or educational institutions, tend to offer better rental yields. It is therefore important to conduct thorough market research and seek advice from real estate agents to gain valuable insights into the rental potential of a specific condo. Additionally, checking out new condo launches can also help in making an informed decision.
On Jan 1st, real estate agency SRI made a significant announcement that a total of 111 agents from Knight Frank Singapore’s agency business, KF Property Network (KFPN), had joined their firm. This also included the head of KFPN, Evan Chung.
At the time of this announcement, KFPN had 274 sales force members and was ranked as the sixth-largest property agency by the Council for Estate Agencies (CEA) in 2024. Meanwhile, SRI, which had 1,286 agents in 2024, was ranked as the fifth-largest agency. With the addition of 111 agents from KFPN and recruits from the top four largest agencies – PropNex, ERA, Huttons, and OrangeTee & Tie (OTT) – SRI’s sales force grew to 1,501 at the start of 2025.
SRI was co-founded by managing partners Bruce Lye and Benson Koh in 2016, as a spin-off from SRI5000, which they had established as a division of SLP Realty six years earlier. Starting with only 120 agents working out of a 2,000 sq ft shop unit on Eng Watt Street in Tiong Bahru, SRI eventually outgrew their premises and moved to a 4,200 sq ft office space at Great World in 2021.
Today, SRI has reached a significant milestone by expanding their team to nearly 1,500 real estate agents. The firm has set a target to further expand their team to 2,000 by the end of 2025, according to CEO Thomas Tan. This enlarged team is expected to enhance SRI’s existing business lines, which include residential, capital markets, industrial, auctions, and international projects. Tan states that many of the new agents from KFPN are involved in big-ticket deals, which will complement SRI’s focus on Good Class Bungalows (GCBs) and other luxury properties.
Despite their growth, SRI remains committed to their boutique agency approach with a strong emphasis on the luxury residential market. Tan’s vision is to establish SRI as a thought leader in the industry, known for their high standards, niche expertise, and client-centric approach. The former head of KFPN, Chung, who is now joining SRI as a leader, explains that his decision to move was driven by the agency’s dedication to providing agents with effective tools, comprehensive support, and expert coaching. He also points out the open and collaborative culture at SRI, which fosters a sense of teamwork and support among professionals. Chung believes that this will provide a great platform for growing their business and serving their valued clients in the residential, commercial, and industrial market segments, auctions, and international properties.
In light of Chung’s departure and the other agents who have moved to SRI, KFPN’s sales force has decreased to 145 agents, and their ranking has dropped from sixth to eighth largest agency, according to CEA public register figures as of Jan 1st. However, Knight Frank Singapore’s CEO, Galven Tan, assures that it is business as usual at KFPN. He states that they are currently working to appoint a new head to lead KFPN, ensuring strong leadership for its growth and success. Galven Tan also adds that they will be evaluating the team’s strengths and expertise to strategically position KFPN for future opportunities.