After 5 years, Christie’s real estate affiliate returns to Singapore

The real estate subsidiary company of well-known Auction House, Christie’s, has returned to Singapore late last month. Christie’s International Real Estate previously had a branch in Singapore that closed back in 2019, but it has re-entered the market with new leadership and management.

History of the brand

The real estate company was originally founded in 1987 as Great Estates, before it was acquired by Christie's in 1995, and its name was changed to Christie’s International Real Estate in 2011. 

The firm is presently led by Harmeet Singh Bedi, Dipika Bedi, Himmat Singh, and Rohini Singh. The Singhs are both longtime owners of Christie’s International Real Estate’s affiliate in India, and each have over 25 years of experience in luxury real estate. 

On the other hand, Singh Bedi’s experience lies on the financial side; he has held positions in banking and real estate investment management roles. Lastly, Bedi has experience in advertising, marketing, art sales, and events management.

This Singapore branch specialises in the luxury housing market, as a residential broker. It also advises individuals and institutions based in Singapore on their real estate investments. 

Motivation behind the relaunch

However, this branch is not Christie’s International Real Estate’s first foray into Singapore. The company was previously open in 2015 under different leadership, led by the now Managing Director of Lighthouse Property Consultants, Samuel Eyo. This brand unfortunately closed in 2019, and has remained as such until last month.

Christie’s International Real Estate has relaunched in Singapore now after noticing an increasing trend in Singapore’s luxury real estate department.

Himmat Singh, joint Managing Director, Christie’s International Real Estate Singapore said: “The current dynamism and potential in Singapore’s luxury residential real estate market, combined with the increasing need for global investment opportunities from both individual and institutional capital based in Singapore, makes this the perfect time to reintroduce the Christie’s International Real Estate brand here.” 

Although the overall real estate market has been facing a slump, Christie’s International Real Estate looks at the continued high value of luxury real estate as evidence that the industry is still growing. For example, single-family homes (homes passed down through multiple generations) and Good Class Bungalows (houses on land larger than 15, 000 square feet) are valued between $35 million and $65 million.

The company also anticipates a long-term growth of the luxury housing market; it cites Singapore’s high standard of living, stable political environment, robust economy, and favourable tax policies as factors that will continually attract buyers and investors and therefore facilitate a stable environment for the industry to accrue value.

Other services

Besides their work as a residential broker, Christie’s International Real Estate also provides property investment advisory services. These apply to investments on properties in Singapore and overseas as well, as the real estate company has brokerages in multiple territories. In Asia alone, the company has affiliates in Dubai, India, Taiwan, Vietnam, and Japan.

The company also posits that clients can form a relationship with Christie’s Auction Houses through engaging with their real estate services, which may appeal to collectors of fine art and luxury goods.

“Singapore is a tight-knit, highly capitalised, and brand-conscious luxury real estate market, with buyers and sellers who expect the highest level of service,” said Harmeet Singh Bedi, Managing Director, Christie’s International Real Estate Singapore. “We are confident that discerning clientele from Singapore and the region will appreciate the brand’s tailored service and international network.”