There has been a sharp increase in the number of properties put up for auction as mortgagee sales. According to Colliers International, there were 171 such listings in the first nine months of this year. This was 52.7 per cent higher, compared to 112 in the same period last year. There were 32 landed properties - more than double the 15 listings when compared to a year ago - including a bungalow in...
Property Auction Market
The number of mortgagee sales at property auctions in Singapore jumped sharply during the first three months of this year -- a sign that owners in financial difficulty are finding it harder to dispose of their properties. Figures compiled by real estate consultancy Colliers International showed 22 mortgagee listings during the first quarter, far higher than the average of eight mortgagee listings per...
The property auction market in Singapore went into a deeper slumber in the fourth quarter, with only S$3.9 million in sales closed, a 15.1 per cent decline from the preceding quarter’s already tepid S$4.6 million, as loan curbs and cooling measures continued to weigh on the market, real estate firm Jones Lang Lasalle (JLL) said yesterday. Ms Mok Sze Sze, JLL’s Head of Auction and Sales, said: “The...
The property auction market in Singapore slowed to a crawl in the second quarter, with both sales volume and value transacted falling sharply from the previous three months, real estate consultancy Colliers International said on Friday. Only four properties worth a total of S$7.05 million were sold via auction in the April-to-June period, down 91.6 per cent from the S$83.44 million recorded in the...
Eleven properties were put up for sale at an auction held by Knight Frank Singapore last week, of which two were sold even before the event. The properties that changed hands are a 904 sq ft two-bedroom condominium unit and a retail space along Petir Road. The condo at Cube 8 is currently under construction, with the temporary occupation period (TOP) set for 2014. On the other hand, the 538 sq ft shop on...
The local auction market experienced a "cooling" period in the first quarter of this year, with only three properties sold out of 84 properties auctioned, according to the latest report by property consultancy firm Jones Lang LaSalle. In the same period last year, 17 properties were sold out of 120 properties auctioned. Among the three properties sold during auctions in the first quarter of 2012, two...
The government's property cooling measures have dampened the performance of auctioned properties in 2011. Property consulting firm Colliers International said that out of 542 properties put up for auction this year, only 46 were sold. These raked in S$95.62 million in sales value. But it is much lower than the S$223.9 million achieved from the sale of 71 properties in 2010. This year's figure is also...
The Singapore property auction market registered a significant drop in total sales value and number of transactions in the first quarter of the year, chalking up a total of 17 transactions worth only S$27.87 million, property consultants Colliers International said. Colliers said that it was the lowest sales value garnered since the auction market rebounded in the first quarter of 2009, after the global...
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...