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RESIDENTIAL PROPERTY, TRANSPORT & LOGISTICS | Staff Reporter, Singapore
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Ex-real estate agents turn to Uber to make ends meet

Commissions can no longer keep them afloat.

When Billy Loh started in 2008 as a property agent, his profession was seen as a route to wealth in Singapore. Now, he has to know his way around the city to pay the bills.

Loh, 50, is driving for Uber Technologies Inc. in the city-state, where government curbs to cool the market have mired property prices in the longest losing streak in 17 years and transaction volumes have plunged by as much as two-thirds since 2012. After going half a year without doing any deals, Loh switched to driving and is earning on average S$3,000 ($2,115) a month, one-tenth of the up to S$30,000 commission he could get from a single home sale during the market’s heyday.

"The market is slow because of the cooling measures," said Loh, as he drove a Toyota Corolla he has been renting since October, when he started driving for Uber. "We have no choice, we have to come up with means to make ends meet."

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