Market data released by URA, the national urban planning authority of Singapore, confirmed weakness in the housing market as a result of the cooling measures implemented in 3Q18.
SINGAPORE (May 13): APAC Realty reported a 70.6% drop in 1Q19 earnings to $1.7 million from 1Q18 earnings of $5.9 million a year ago.
The operator of ERA real estate brokerage says this was due to a drop in brokerage income contribution as a result of lower transaction volume following the implementation of the cooling measures as well as higher expenses.
