Sinyi Realty

What Sinyi Realty does

Sinyi Realty (信義房屋, TPE: 9940) is Taiwan's largest publicly traded residential real estate brokerage, founded in 1987 and headquartered in Taipei with a workforce of 5,001-10,000. The company operates a hybrid physical-store and digital-platform distribution model: customers can transact through a national network of branch offices, the sinyi.com.tw portal, iOS and Android mobile apps, MRT-station-filtered search, LINE Official Account messaging, and dedicated sub-brand channels for new-project pre-sales (信義代銷/Sinyi ReMa) and Japan property investment (東京信義/Tokyo Sinyi). Core products include residential and commercial buy/sell/rent brokerage, the 實價登錄 real-time government transaction-price database, the AI PropTech conversational assistant, the Dindon 智能賞屋 3D virtual viewing feature, and the SinyiCare transaction-protection guarantee. An ecosystem of wholly-owned subsidiaries extends across the property lifecycle into property appraisal (信義鑑定), construction management and escrow (安信建經), commercial real estate (信義全球資產), property development (信義開發), and post-transaction home services (信義居家) with Homy e-commerce integration.

Revenue is generated primarily through transaction-based brokerage commissions, with Sinyi charging approximately 1% as the buyer service fee (industry norm 1-2%, legal cap 6%) and offering a two-phase payment structure for buyer protection. Additional revenue streams include pre-sale/new-project commissions via Sinyi ReMa, commercial brokerage via Sinyi Global Assets, Japan property advisory via Tokyo Sinyi, and an emerging overseas tourism/leisure vertical anchored by the NT$9.1 billion Malinsong Hotel resort development in Malaysia through subsidiary Sinyi Development. The customer base is broadly distributed across individual home buyers, sellers, renters, new-property buyers, and overseas investors, with no disclosed enterprise contracts; pricing is pay-as-you-go per transaction.

The company is navigating a pronounced industry downturn: 2023 revenue of NT$11.457 billion declined for a third consecutive year, EPS dropped 88% year-on-year to NT$0.28, the stock hit a 17-year low, and 53 stores have been closed over four years against a Taiwan-wide contraction of 156 agencies. China Credit Rating has shifted its outlook to 'negative' over the Malaysia capex burden, which is not expected to generate cash inflows until after 2027. Sinyi is responding with AI-enabled product launches (AI PropTech in 2025, Dindon 3D viewing in 2023), continued Japan-channel expansion, and ecosystem buildout across the homeowner lifecycle, but the core brokerage engine remains in revenue contraction.

Name

Sinyi Realty

Legal name

信義房屋股份有限公司

Website

https://sinyi.com.tw

Company type

Public

Founded year

1987

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Sinyi Realty (信義房屋, TPE: 9940) is Taiwan's largest publicly traded residential real estate brokerage, operating a hybrid physical-store and digital-platform network serving individual home buyers, sellers, renters, and overseas property investors across Taiwan, Japan, China, and Malaysia.

Ownership category

akta.pro rank

Product category

Real Estate Brokerage Services

NAICS

Offices of Real Estate Agents and Brokers (5312), Offices of Real Estate Agents and Brokers (531210), Nonresidential Property Managers (531312)

SIC

Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Traditional Residential Brokerage (Existing Homes) (BPAJAAAA)

akta.pro secondary industries

Closing Coordination & Transaction Management (Broker/Agent Support) (BPAJAOAH), Commercial Real Estate Brokerage (Leasing & Sales) (FSAEAJAB)

Keywords

• Residential real estate brokerage
• Property transaction services
• Overseas property investment
• Commercial real estate services
• Home services marketplace

Headquarters

HQ city

Taipei

HQ country

Taiwan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Real Estate Brokerage Commission: Traditional brokerage commission from buy/sell/rent transactions. Commission rates typically 1-2% of transaction value, with 信義房屋 charging approximately 1% as a service fee for buyers, structured in two phases for buyer protection.
2. New Project Sales (信義代銷): Pre-sales and marketing services for new property development projects
3. Overseas Resort Development: Tourism and leisure investments including Malinsong Hotel resort project in Malaysia (NT$9.1 billion capex)

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels8 records

Core offering

Sinyi Realty operates a full-service residential and commercial real estate brokerage in Taiwan, providing property buying, selling, and rental intermediation services through an omni-channel platform combining physical stores, a website, and a mobile application. The company also operates specialized subsidiaries for pre-sale new project marketing (Sinyi REMA), Japan property investment (Tokyo Sinyi), commercial real estate (Sinyi Global Assets), property appraisal, and home lifestyle services (Sinyi Living with Homy e-commerce marketplace), supported by proprietary AI property matching, 3D virtual viewing, and real-time government transaction price data.

Product overview

Sinyi Realty operates as a comprehensive real estate services ecosystem offering a unified platform for residential and commercial property transactions. The core platform (信義房屋) provides property buying, selling, and rental services with integrated AI-powered features including the AI PropTech assistant and Dindon 3D virtual viewing. The portfolio includes specialized sub-brands: 信義代銷 for pre-sale projects, 東京信義 for Japanese property investments, 信義全球資產 for commercial real estate, and 信義居家 for home lifestyle services via the Homy e-commerce integration. Key differentiating services include the SinyiCare transaction protection program, real-time 實價登錄 price registration data, and AI-powered property recommendation and chat features. The ecosystem spans over 7,400+ property listings across Taiwan with third-party listing integrations from major competitors.

Differentiator

Problem solved

Functional benefit

Brands

• SinyiCare: Buyer/seller service protection program with high specifications for property transaction安全保障服務
• Sinyi Global Assets
• Sinyi Home (信義居家)
• Homy商城
• Dindon智能賞屋

Products and services

• Sinyi Realty Core Brokerage Platform (信義房屋) Flagship residential and commercial property brokerage service offering buying, selling, and rental intermediation across Taiwan via the sinyi.com.tw platform, mobile app, and physical store network. Targets individual home buyers, sellers, and investors with AI-powered property matching, real-time transaction price data, and the SinyiCare transaction protection guarantee.
• Sinyi REMA (信義代銷) Pre-sale housing project marketing and sales service under the Sinyi Group, handling new property launches and developer representation for pre-construction projects in Taiwan. Targets buyers of new construction properties.
• Sinyi Japan / Tokyo Sinyi (東京信義) Overseas property service specializing in Japanese real estate investments, helping Taiwanese investors purchase properties in Japan including Tokyo and other major cities under the Sinyi Japan brand. Targets individual overseas property investors.
• Sinyi Global Assets (信義全球資產) Commercial real estate services including office, retail, and industrial property transactions, asset management, and investment consulting. Targets businesses, investors, and asset managers seeking commercial property services in Taiwan.
• Sinyi Living (信義居家) Home services platform integrated with the Homy e-commerce marketplace, offering interior design, moving, cleaning, home appliances, repairs, and lifestyle financial services. Targets existing brokerage customers and broader Taiwanese consumers needing home-related services.
• Sinyi Realty Mobile App (信義房屋APP) Mobile application for iOS and Android providing property search, Dindon 3D virtual property viewing, real-time transaction price alerts, AI property matching, live agent chat, and push notifications for new listings matching user preferences. Available as a standalone download for individual home buyers and renters.
• SinyiCare (信義服務保障) Buyer and seller service protection program offering high-specification guarantees for real estate transactions, including service quality commitments and consumer protection measures bundled with the core brokerage service.
• Transaction Price Registration (實價登錄) Real-time real estate transaction price database integrated with Taiwan government official registration data, allowing users to search historical transaction prices, community rankings, and market trends for any neighborhood in Taiwan.

Quantifiable outcome

• 1% service fee for buyers (lower than industry average of 1-2%)
• +1 more outcomes

Segments5 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability5 records

Feature4 records

Partnerships

Nine partnerships are on record, tiered minor and core.

• 住商不動產 (Housepoor)minorChannel Partner/ Reseller/ DistributorThird-party property listing source integrated into the 信義房屋 platform, providing additional property inventory from 住商不動產 network
• 中信房屋 (CTBC House)minorChannel Partner/ Reseller/ DistributorThird-party property listing source integrated into the 信義房屋 platform, providing additional property inventory from 中信房屋 network
• 太平洋房屋 (Pacific Realty)minorChannel Partner/ Reseller/ DistributorThird-party property listing source integrated into the 信義房屋 platform, providing additional property inventory from 太平洋房屋 network
• 信義代銷coreStrategic or Co-development PartnerCore group company handling pre-sale and new development project sales. Operates as integrated part of the Sinyi Group ecosystem
• 信義全球資產coreStrategic or Co-development PartnerCore group company specializing in commercial real estate and asset management services. Part of integrated Sinyi Group
• 安信建經coreStrategic or Co-development PartnerCore group company providing construction financing and escrow services. Integral to transaction security ecosystem
• 信義開發coreStrategic or Co-development PartnerCore group company for property development projects including the Malinsong Hotel resort in Malaysia
• 東京信義 (Tokyo Sinyi)coreStrategic or Co-development PartnerCore group company specializing in Japan property investment services for Taiwanese investors, operating under 信義房屋日本 brand
• 中國信義coreStrategic or Co-development PartnerCore group company operating real estate services in China market, part of Sinyi Group expansion

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Regional players

• Leopalace21: Major Japanese real estate and rental management company with cross-border services for foreign investors. Comparable as a regional peer in the Japan property channel that Sinyi targets via Tokyo Sinyi.

Direct peers

• Centaline Property (中原地產): Hong Kong-founded residential and commercial brokerage with material Taiwan operations and cross-border Greater China listing flow. Directly comparable as a tech-enabled, multi-brand brokerage serving both retail consumers and commercial clients.
• Pacific Realty (太平洋房屋): Taiwan-based residential brokerage chain that integrates listings into Sinyi's platform as a third-party source. Comparable as a store-network residential brokerage competing in the same local Taiwan submarkets.
• H&B Realty (派對屋业 / 591房屋): Operates the dominant Taiwan property listing portal 591 and adjacent brokerage services. Comparable as a digital-first competitor capturing consumer lead-flow and increasingly moving into agent-mediated transactions.
• CTBC House (中信房屋): Taiwan residential brokerage backed by CTBC financial group; also feeds listings into Sinyi's platform. Comparable as a competing national brokerage brand using a similar franchise/store-network model.
• Yung Ching Realty Group (永慶房產集團): Taiwan's other major franchise-style residential real estate brokerage and Sinyi's primary domestic competitor. Operates an analogous store-network + digital-platform model with comparable AI matching and virtual viewing investments, and competes head-to-head for agents, listings, and buyer/seller mindshare in Taiwan.

Broad incumbents

• Century 21: Global residential real estate franchise network with Asia-Pacific presence. Comparable as a broad incumbent franchise model that competes for agent franchisees and brand share in markets overlapping with Sinyi's expansion footprint.
• Mitsui Fudosan: Large Japanese developer and real estate services conglomerate active in residential sales, leasing, and investment property. Comparable as a broad incumbent that competes for Japanese real estate demand relevant to Sinyi's Japan channel.
• RE/MAX: Global franchised residential real estate network active across Asia. Comparable as a broad incumbent competing for agent talent and listings in the same brokerage franchise category.

Emerging players

• Beike / KE Holdings: Chinese PropTech platform combining a dominant property listing portal with agent network and transaction services. Comparable as a digital-first platform operator targeting similar agent productivity, VR viewing, and AI matching use cases in a Greater China real estate market.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xfacebook.com/sinyifans
• YouTubeyoutube.com/channel/UCU76s7FGtDvDta2mf2Zdn4Q
• Facebookfacebook.com/sinyifans
• LinkedInlinkedin.com/company/sinyi
• Instagraminstagram.com/sinyi.official

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sinyi Realty