Tough market prompts more property agency tie-ups

More property agencies are consolidating to share resources and leverage on one another's networks, as the residential market continues to shrink.

Jones Long LaSalle (JLL) Singapore announced that it has acquired a 20% stake in PropNex International, the project marketing arm of the homegrown PropNex - a move which will give JLL better access to the mass market home segment as the high-end condominium segment it has been dealing in continues to languish.