Desperate times call for desperate measures.
Things aren't going well in the property market. Private home prices continue their downhill struggle across all segments of the market. Data from the Urban Redevelopment Authority show that prices of non-landed properties fell 1.2%, 1.6%, and 1.6% for the Core Central Region (CCR), the rest of the Central Region (RCR) and Outside Central Region (OCR) respectively in 3Q. These were all greater compared to the declines of 0.6%, 0.6%, and 1.1% respectively in the previous quarter.
At a time like this, property agents are the most affected. Based on the latest annual report from the Council for Estate Agencies (CEA), around 3,000 property agents have quit the industry over 12 months to March 31, 2015, due to the sluggish property market.
Nevertheless, there are still many property agents who are still responding positively and aggressively in the property market by coming up with interesting ideas to boost the property transactions.
Singapore Business Review spoke to some property agents at Singapore's largest real estate agency, ERA, to talk about interesting action plans they do these days to tackle the cooling property market.
We compiled a few interesting campaigns such as free car wash services and masks to lure clients who would rather prefer to stay at home due to the haze.
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