One Global Property Services is a member of the Leading Real Estate Companies of the World® and participates in the Destinations program. WILLIAMS MEDIA sat down with James Puddle, Managing Director of Global Property Services to learn more about the business' journey and Singapore property market.
What markets does your company cover?
We specialise in marketing property from the UK, but also Thailand and Australia, plus other emerging markets. We also have a local sales and leasing team in Singapore which is an integral part of the business and we plan to extend this into Hong Kong over the next 12 months.
What is the size of your firm (number of offices/sales associates)?
3 offices with now 23 staff across these offices and we are growing rapidly (It was just me on my own just over 2 years ago)
How long have you personally been in the real estate business?
Describe the current state of the real estate market in Singapore
The local market in Singapore has been challenging for the past 18 months, but is recovering. Our core overseas market in the UK has also been challenging as a result of the ongoing political uncertainty, but this has created opportunity due to the weakened currency, which has created opportunity for our investors who have slowly been reentering the market.
Do you see a significant number of buyers or investors coming from other countries? If so, which countries in particular?
Not so much in Singapore due to the cooling measures introduced over the past 2 years, we more see outbound investment.
Can you identify one or two of the most important market trends?
Domestically in Singapore we are seeing an increase in activity from the Hong Kong market looking to invest into Singapore given the ongoing political instability. In terms of outbound investment, we are seeing strong demand for buyers/ investors looking to invest overseas as there is more opportunity, the UK remains at the top.
What factors do you think contribute to your company’s success?
We are young, dynamic and have focussed on establishing a boutique real estate company that provides a high quality service and strives to disrupt the market and do things a bit differently, where possible. We have been fortunate with the team that we have created so far, all of which are very experienced in their specialist markets. This has enabled us to grow quickly and take significant market share where we started here in Singapore. Theaspiration is to extend this to other markets such as Hong Kong where we are very new.
Are there any specific trends you are seeing in terms of the types of housing or housing features that are especially popular?
In an overseas sales market context where most of our focus lies, the majority of demand we see is for smaller more efficiently sized units for investment purposes and mostly off plan.