More than 100 ultra-rich families: Meet the agent building wealth for them through property

Singapore’s transformation into Asia’s wealth hub has accelerated rapidly – from 400 single family offices in 2020 to five times that number in 2024. With this surge in ultra-high-net-worth individuals (UNHWI) looking to grow their wealth and diversify risk, there comes demand for professionals who can manage entire property portfolios, not just individual sales.

ERA Realty Network division director Joseph Khoo, has become the go-to guy among his clients for that purpose. The 47-year-old says: “As the number of UHNWI in Asia continues to rise, many are seeking safe and stable locations to anchor their investments. Singapore has emerged as a preferred base for their wealth and property portfolios.”

Since joining the industry 16 years ago, his proudest achievement to date is not a single record-breaking sale, but the management of property portfolios for over 100 high-net-worth families which trust him with their wealth-building strategies.

“I focus on managing them and advising them to ensure continuity and profitability, helping clients refresh their portfolios under optimal market conditions,” he explains. This means tracking rental yields across multiple properties, timing strategic sales when markets peak and identifying new acquisition opportunities that align with each family’s investment goals.

Khoo, who now specialises in residential projects within the prime Shenton area, thinks in terms of investment portfolios rather than focus on individual transactions.

He looks at each family’s entire collection and advises them when it is time to refresh or change their portfolio – which could mean selling some properties and buying others that better serve their long-term wealth goals.

His philosophy challenges conventional wisdom. He says: “Many home buyers tend to wait for the right time, but the truth is that the perfect moment rarely comes. It’s about identifying the right opportunity, not just waiting for ideal conditions.”

Despite managing extensive portfolios, Khoo dispels industry misconceptions that working in property means easy money.

“With stiff competition and rising costs, success, more than ever, requires hard work, sharp instincts and dedication,” he says.

His workload reflects this. Starting at 8am daily, a typical workday sees him running around, managing logistics for rental transactions while simultaneously negotiating buying and selling deals. The weekends, he says, are no different from his weekdays.

Despite the demanding schedule, Khoo’s motivation remains clear – that he must give his best to every client.

He says: “There’s nothing more rewarding than successfully guiding them through their home purchase or rental journey. It’s an experience that excites and motivates me every time.”

Joseph Khoo is available on Instagram and Facebook. Or get in touch with him at 9745 2423. 

Read more about the real estate agents shaping Singapore’s luxury property market.