Auction sales in Singapore grew for the first half this year, totalling about $87 million. Property consultant Jones Lang LaSalle's Auction House reported more than 80 per cent of all listings were put up for sale by owners. The increase in the number of properties for sale by auction is due to a change in mindset - many now see it as an effective mode of sale, the firm said. Auction attendances have...
Auctions
The Singapore property auction market rose 20 per cent on-year in the first half of this year to S$87 million, according to property consultants Colliers International. A total of 440 properties were put up for auction, of which 378 properties were from property owners while only 62 were mortgagee sales. Colliers said the sharp fall in the number of properties put up for mortgage sale is a reflection of...
This year's Hungry Ghost Festival has spooked buyers in the property auction market, but enough cash was still burned up to set a three-year high in sales. Property consultancy Colliers International said on Wednesday only 14 out of 85 properties put up for auction during the Hungry Ghost Festival, which began on August 20, were sold. That works out to a successful transaction rate of just 16.4 per...
The number of repossessed properties put up for sale by banks and financial institutions in Singapore rose by 18 per cent in the first three months of 2009 compared to the previous quarter. A total of 53 properties were repossessed in the first quarter of 2009, up from 45 in the previous quarter. Real estate consultancy firm Colliers International said its findings indicate a continued trend in mortgagee...
Analysts caution that banks here may not rush into home foreclosures THEY are flocking to the auction houses, hoping to find bargains. But each time the starting price is called out, there are audible sighs and shaking of heads. Still too high, say those who have been frequenting property auctions in recent weeks. Expectations are growing for some fire sales in the local property market, which is...
Auction sales of properties in Singapore hit a record high in August at S$22.7 million, 37 per cent higher compared to a year ago. The increase was mainly due to the sale of four residential infill land sites by the Singapore Land Authority (SLA), despite taboos associated with property purchase during the Hungry Ghost month. The report by Collier's International said this confirms that investors are...
Market-watchers are expecting to see fierce bidding for a high-end luxurious penthouse near Orchard Road. The unit at The Boulevard Residence is scheduled to be up for auction next month. It is the last of only two super penthouse units at the premium freehold project developed by SC Global Developments and Guocoland. The auction is by invitation only and will be jointly conducted by Christie's Great...
The value of properties that were sold at auctions this year hit its highest level in seven years. According to property consultant Knight Frank, some S$320 million worth of properties changed hands at auctions in 2006. This was the highest since the last market peak in 1999.All in, for the whole year, about 175 properties were sold at auctions - up from 163 in 2005. Altogether some 1,838 properties...