In business updates for 1QFY2022, APAC Realty announced total revenue of $171.1 million, up 12% y-o-y, with new new home brokerage revenue up 42% to $77.2 million; and resale and rental brokerage revenue down 4.6% to $92.0 million. Net profit after tax (NPAT) for the quarter rose 20% y-o-y to $9.0 million. The performance in 1Q2022 was largely due to an increase in billings of new homes from transactions in previous quarters.
The company said it maintained its market share of 37.9% of the residential property market (exclude leasing) in 1Q2022.
While transactions could taper off as mortgage rates rise and inflation continues unabated, there are still some 20 projects to be launched this year with almost 7,000 units.
