The bulk of APAC Realty’s revenue comes from its real estate brokerage services segment, says Chan. The biggest contributor is private secondary resale transactions, at 44% of brokerage value. This is followed by leasing and HDB resale, private primary residential, and lastly, commercial resale and leasing.
Lim & Tan Securities has initiated coverage on property agency APAC Realty with an “accumulate” rating and 66-cent target price. Analyst Chan En Jie thinks APAC Realty is set to deliver more than 90% growth in FY2025 profits and with a “generous” 79% payout ratio, the dividend yield is “attractive” at 6.3%.
APAC Realty is the parent company of ERA Realty, the second-largest real estate agency in Singapore with exposure to 40% of total home sales.
