Originally from Paris, Cyril Tuzemen moved to London in 2006. His family, who are of Armenian heritage, settled in France, where his father worked manual jobs before establishing his own real estate agency, seeing it as a path to wealth.
Though Tuzemen often accompanied his father to apartment viewings on weekends as a child, his father strongly discouraged him from pursuing the same career.
“The last thing he ever wanted was for me to go into that line of work, which was seen as a job for those who hadn’t pursued higher education,” says Tuzemen. “For him, the priority was that I continued my studies and secured a job at a reputable company
Together, they began investing in properties across the city, quickly finding success. Motivated by their achievements, they decided to launch their own real estate agency, specialising in managing property investments for others.
The name Vesper Homes was inspired by The Vesper martini that debuted in Ian Fleming’s Casino Royale, with James Bond’s famous phrase, “shaken, not stirred” (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Inspired by a cocktail
In 2014, the two friends were sitting in a London hotel, brainstorming names for their new firm. “The hardest part about starting a company is finding the right name,” adds Tuzemen. “We went through many bad ideas.”
Then, as Cameron glanced at the drinks menu, he suddenly looked up and said: “Vesper Homes.” Tuzemen remembers: “I was like, ‘Oh, that’s a nice name. Where did you get that from?’ He told me to look at the menu, and there it was — the Vesper Martini. I didn’t even know it was a martini.”
The Vesper cocktail debuted in Ian Fleming’s 1953 novel Casino Royale, alongside James Bond’s famous phrase “shaken, not stirred.” As Tuzeman says, “It was only after we watched the movie that it really clicked.”
Inspired by the name, the co-founders of Vesper Homes launched their company with a party themed around The Vesper cocktail.
Their logo was “a lemon twist,” and their brand statement declared: “We are shaking up the property market.”
The two friends ordered a Vesper Martini each to celebrate their new firm. “It was too strong — we couldn’t drink it. It has three types of alcohols and no mixers,” says Tuzemen. “But the name works. The good thing is that most people don’t even realise it’s a cocktail. We could have been named Margarita Homes. That would have been bad.”
Tuzemen was captivated by the greenery along the East Coast Parkway from Changi Airport to the CBD (Photo: Samuel Isaac Chua/EdgeProp SIngapore)
‘Hot weather, low tax haven’
In 2010, Tuzemen decided to relocate to a country with “hot weather and low taxes.” A quick Google search yielded three options: Dubai, Hong Kong, and Singapore.
He planned to spend three days in each city to make an informed decision. “Everyone told me to go to Hong Kong — that it was like London on steroids. Back in 2010 and 2011, that was true,” he says. “They warned me against Singapore, saying it was boring and had nothing to do. As for Dubai, it was just beginning to recover from the Global Financial Crisis.”
Dubai wasn’t for him, and while Hong Kong’s energy lived up to the hype, it didn’t feel right either. Then, he arrived in Singapore.
After landing at Changi Airport, he hopped into a blue cab to his hotel. “During the drive from the airport — with the heat, the old uncle screaming at me in Singlish (which I couldn’t understand) — I fell in love with Singapore right then,” says Tuzemen. He was captivated by the greenery along the East Coast Parkway from Changi Airport to the CBD.
After passing his Real Estate Salesperson (RES) examinations, Tuzemen still needed at least three years’ experience as a real estate agent before he could apply for the Key Executive Officer (KEO) licence and and set up his own real estate agency (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Learning the ropes
Tuzemen also didn’t realise he needed an employment pass to live and work in Singapore. Leveraging his banking experience from London, he took a job in finance to secure the necessary pass. Once he had it, he applied for permanent residence (PR). “Fortunately, I got my PR very quickly,” he says.
After some time, he quit banking and began contemplating his next move. That was when he decided to establish Vesper Homes in the city-state.
However, before he could do that, he needed to pass the Real Estate Salesperson (RES) examination, a mandatory requirement for all aspiring real estate agents in Singapore.
The first time he took the exam, he failed both papers. “I thought I already knew the property market because I had been doing many property deals in London at the time,” he admits.
Determined to pass on his second attempt, he booked a three-day staycation at a hotel near the examination centre. “For three days before the exam, I stayed in my room and studied,” says Tuzemen. “I only left to buy food. And I passed both exams.”
To qualify for a Key Executive Officer (KEO) licence and start his own real estate agency, Tuzemen needed at least three years of experience as a licensed real estate agent.
Fortunately, just before taking his RES exams, Tuzemen met Giokha Koh, a seasoned realtor who ran her boutique real estate agency, Younique Property. “She was an Indonesian-Chinese lady with a big laugh,” Tuzemen remembers.
Initially hesitant to hire him as an agent, she eventually warmed up to him and fondly introduced him as “my only ang moh (Caucasian) friend”.
“But she is someone I respect deeply,” Tuzemen continues. “I wouldn’t be where I am today without her. If I had entered the business with a purely Western mindset, thinking I had a better way of doing things, I would have struggled. She stopped me from making that mistake and taught me the Singaporean way of doing business.”
Vesper Homes developed a system where real estate agents focus on closing deals with landlords or tenants while the property management is handled by a team of full-time, in-house property managers (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Realtor versus property manager
By the time Tuzemen launched Vesper Homes in Singapore in 2019, he had already gained several years of real estate experience. The boutique agency’s unique selling point is its team of full-time property managers.
“Normally, real estate agents work independently in Singapore,” he says. “Even when two or three agents collaborate, each one still handles everything on their own. Our approach is different.”
Vesper Homes developed a system where real estate agents focus on closing deals with landlords or tenants and handling all the paperwork and contracts. Once the agreement is finalised, the agent hands over the unit to a property manager, who gives the client a formal statement on the apartment’s condition. If any maintenance or repairs are needed, the property manager handles them while the agent informs the landlord. This system ensures a faster response time for both landlords and tenants.
“In the UK, we adopted this system, and we have replicated the model here in Singapore,” says Tuzemen. “From a leasing perspective, we operate much more efficiently.”
This year, the company expanded its portfolio to include leasing of office spaces in Asia Square (pictured), The Concourse, and the office towers at Suntec City (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Breaking into commercial
Vesper Homes has 12 staff members in London and Manchester and 13 in Singapore. The company collaborates with partners and co-broke agents in Hong Kong to market UK projects. Tuzemen aims to grow his team in Singapore to 20. In addition to residential leasing, his firm also handles commercial leasing, including office and retail spaces.
This year, the company expanded its portfolio to include leasing of office spaces in Asia Square, The Concourse, and the office towers at Suntec City. Tuzemen plans to launch Vesper Commercial, a dedicated arm to handle commercial deals.
“Last year, commercial leases accounted for only 10% of our revenue, but this year, we’re targeting 30%,” he says.
Tuzemen has witnessed shifting expatriate trends firsthand, particularly during the Covid-19 pandemic, when many expatriates left Singapore. “Those who returned to Europe now regret it,” he observes. “Now that things are back to normal, they wish they could move their families back to Singapore, where it’s safe for their children, and they don’t have to worry about crime, violence, or drugs.”
The appeal of Singapore isn’t limited to those who left — it has also attracted expatriates from Hong Kong. “Many have relocated here, especially families with children, because Singapore offers a safer environment,” he adds.
Having lived in Singapore for 14 years, married and now a father of three young sons, Tuzemen understands this sentiment firsthand.
He believes the city’s safety and stability continue to make it a magnet for foreigners seeking security and quality of life. “Singapore is small, and we will always attract more people than we can take in.”
The interior of the 1,300 sq ft shophouse at 88 Club Street in Chinatown, which is now Vesper Homes’ office space (Photo: Samuel Isaac Chua/EdgeProp Singapore)
The perfect office space
Vesper Homes’ previous office was located in Joo Chiat, on the second level of Katong Point, just above Little Farms Grocers. The firm had taken over the lease from another company. However, Tuzemen had always wanted an office with a shopfront.
“In Singapore, there aren’t any real estate agencies with a street front, whereas in London and Paris, you can see the real estate agencies along the street,” he says.
More specifically, he wanted a conservation shophouse in a prime location. Finding the right space, however, proved challenging. Eventually, he found his ideal unit — a 1,300 sq ft shophouse at 88 Club Street in Chinatown, right on the edge of the CBD.
The shophouse has been renovated and features a rooftop skylight that brings in natural light and newly laid timber flooring. “We wanted the space to feel more like a home than an office,” he adds. “Our goal is to entertain clients and host events within our own space.”
Recently, the owners listed the property for sale at $15 million. Tuzemen, however, remains unconcerned about the sale, as his lease is secured for three years.
With the number ‘88’ and good fengshui, Tuzemen believe business “is going to boom” (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Auspicious address
Since moving into the shophouse with its auspicious address last December, Tuzemen says the firm has already closed several major deals.
For instance, Tuzemen handled the lease of two units at The Colonnade, a 90-unit luxury condominium on Grange Road. “We had never worked with Pontiac Land, the landlord, before, and suddenly, in December, we closed two major leasing deals with them,” he says.
Another unexpected opportunity arose when City Developments (CDL) engaged Vesper Homes to exclusively handle leasing for all the units that it still manages at Cliveden at Grange. In December, the firm was tasked with leasing six vacant units, including two 6,000 sq ft triplex penthouses. To date, all six have been successfully leased. As and when the leases for the other units expire and the tenants leave, Vesper Homes will handle the marketing and leasing.
City Developments Ltd has appointed Vesper Homes as the exclusive agent for the leasing of the units it still owns at Cliveden at Grange (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Tuzemen and his team also recently rented out six apartments in a newly redesigned shophouse on Mohamed Sultan Road. The apartments, which were fully furnished and provided with WiFi, included two-bedroom apartments that fetched premium rents of $8,200 a month.
Typically, the first quarter is the slowest period of the year. However, from January to March, Vesper Homes has closed 57 deals and is on track to end the quarter with 65 transactions.
The firm handled three sales in 1Q2024. In 1Q2025, it has already completed four sales, with another three currently under negotiation. These include the sale of a cluster housing unit at the freehold private condo Casabella along Duchess Avenue for $4.95 million. The last transaction for a similar-sized unit was last July when it fetched $4.5 million.
Last December, Vesper Homes rented out two apartments at the luxury condo The Colonnade along Grange Road (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Tuzemen projects a 20% to 30% increase in Vesper Homes’ transaction volume this year, and income is expected to rise by 40% compared to the previous year.
He adds: “Now that we have the number ‘88’ and good fengshui, we believe business is going to boom.”
