Property Auctions

Belmont Rd GCB in 3rd stab at mortgagee sale with price shaved again to S$39m

A good class bungalow (GCB) at 80 Belmont Road, owned by The Stratech Group's Chew family, will be relaunched for auction next week with a lower guide price of S$39 million, marketing agent Knight Frank Singapore said on Thursday. The auction will be held on Sept 18 at 2.30pm at Amara Hotel, Level 3. The new guide price works out to S$1,444 per square foot (psf) based on 27,000 square feet (sq ft) in...

Conserved Neil Road shophouse up for auction with S$8m asking price

A conserved two-storey shophouse located at 65 Neil Road is being put up for sale by auction for at least S$8 million, translating to about S$2,800 per square foot (psf) based on a gross floor area of 2,834 sq ft. The shophouse comes with an attic and has a land area of 1,413 sq ft, real estate firm Collier’s International said on Monday. It also has 99-year leasehold tenure with effect from July 4,...

Bukit Panjang GCB up for auction with S$9m asking price

A good class bungalow (GCB) at 7 Chestnut Crescent will be put for sale via auction by its owner next month with an asking price of S$9 million, real estate firm Colliers International said on Monday morning. The freehold property is located within the GCB area in Bukit Panjang. There are 39 clusters in Singapore gazetted for GCBs. The asking price works out to around S$975 per square foot (psf),...

More properties up for auction but sales value down

More properties were auctioned in the first half of the year but the sales value was down markedly on the same period last year due to the lack of big-ticket landed units. Transaction value came in at about $39.6 million, a fall of 11.2 per cent compared with the same six months last year, a Knight Frank report showed. It noted that demand for large quantum properties remained patchy due to the...

Shops and shophouses overtake homes in auctions in Q1: Knight Frank

SHOPS and shophouses overtook residential properties in total sales value in auctions in the first quarter of this year, a report by Knight Frank released on Wednesday shows. Some S$5.5 million worth of shops and shophouses were sold in auctions in Q1, more than double the residential sector's S$2.5 million. This marked the first time since the second quarter of 2014 that the residential sector was...

Mortgagee auctions expected to rise

AMONG the properties making their auction appearance this month are an uncompleted factory in Kranji on a site with a balance lease term of about nine years, a couple of shop units in the basement of the freehold Ming Arcade along Cusacaden Road (both mortgagee sales) and a receiver sale of a two-storey detached house off Upper East Coast Road with seven bedrooms and an indicative price of S$9.5...

Nearly 40% increase in number of properties put up for auction: Colliers

There has been a 38.5 per cent increase in the number of properties put up for auction in the first half of 2015 compared to the previous six months, according to a report by Colliers International. The report said there were 378 listings. Of these, 105 – or nearly 30 per cent – were mortgagee sales, 10 per cent higher compared to the second half of 2014, when there were 95 mortgagee sales. The...

More homes sold through public auctions

Of all the private homes being sold through public auctions, about 70 per cent were put on sale by their owners, according to Colliers International which holds one such auction every month. The remaining are put on auction by banks. Seventy-four per cent of all auctioned properties this year were condominiums while the rest were landed properties. Colliers said more homes were being auctioned off...

Property auction sales still slow

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...

“Cooling” period for local auction market in Q1

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...

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