Raymond Chow did not expect to work in the real estate industry. But a chance conversation with a university classmate led to a role with her property valuer father and a career in which he has thrived. Raymond founded his boutique Ray International Real Estate Group in Singapore in 1993 and has seen it grow to one of the top 5 project marketers for developers in the Asia-Pacific region. 

What are some of your career highlights from your time in the industry?

I have enjoyed working with some of the world's wealthiest people, including Mr. Li Ka Shing, Dr. Jannie Tay, Frasers Centrepoint, Wing Tai, Far East Organization, Tong Eng, Chip Eng Seng, World Class Global and many others locally as well as Internationally.  It has been a great learning curve and a successful experience.

What advice do you have for people who are just starting out in their real estate careers?

Despite the current market conditions, people can still make things happen and have a good career in this industry - many of us are still making a good income.  A sales role can be an opportunity at any time if you can find that connection.  

Whether you are new or an experienced agents, its a continuing learning journey. Nothing is impossible; anything is possible.

What are the biggest issues facing the industry in Singapore at the moment?

Since the introduction of property market cooling measures, the biggest issues facing Singapore are loan financing issues such as total debt service ratio (TDSR); the economy, which is in technical recession; and overall, Global Economic Negative Effect at this juncture.

Although we have been going through tough times, the property market is slowly making a come back with some residential projects selling well but generally the whole market especially the luxury high end property sector still trying to sell but all owners losing at least a 25% cut in bank valuation and sales transactions. 

What do you believe is a unique factor of doing business in Singapore?

Singapore is a safe country and, truthfully, in any country there will be challenges and difficulties. Although the current market is basically down 80% compared to the economic status in 2015, we have braved through 2016, and expect Singapore will be on its way back to a better economy soon.  We hope year 2018 will be a much better one to come.

What’s your outlook for the Singapore market?

We expected this year, 2017, to be even worse than last year and it has been.  However  I believe we should be able to make it through this year.  From 2018 onwards we expect a slight recovery.  And 2019, 2-3 years from now, should be better.  

Where would your next purchase be?

Australia is my favourite holiday destination in Asia especially Melbourne.   Most preferred interest will most like CBD apartments, Townhouses and House and Land packages.  

I have already purchased several apartments in Melbourne, so next may be either Townhouses or House and land or either Brisbane or the Gold Coast.

To view blogs, properties and news from Raymond Chow visit Ray International Real Estate Group's his page here.