{"id":105639,"date":"2019-04-01T09:45:02","date_gmt":"2019-04-01T02:45:02","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/auction-sales-down-42-1-in-q1\/"},"modified":"2019-04-01T10:03:10","modified_gmt":"2019-04-01T03:03:10","slug":"auction-sales-down-42-1-in-q1","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/auction-sales-down-42-1-in-q1\/","title":{"rendered":"Auction sales down 42.1% in Q1"},"content":{"rendered":"


\nThe highest transaction registered during the quarter was the mortgagee sale of a unit at Grange Residences, which attracted 24 bids and ended the auction at $7.15 million.
\nSingapore\u2019s auction market saw total sales value drop 42.1 percent year-on-year to $11.57 million in the first quarter of 2019, due to the after effects of the government\u2019s latest property cooling measures, revealed Edmund Tie & Company (ET&Co).
\nOther reasons for the dip in sales \u201cinclude the New Year and Lunar New Year festive period in January and February as well as the March school holidays\u201d.
\nMore:\u00a07 Questions About Property Auctions
\nThe highest transaction registered during the quarter was the mortgagee sale of a three-bedroom-plus-study unit at Grange Residences, which enjoys views of the Chatsworth Good Class Bungalow Area (GCBA) as well as embassies within the area.
\nPut up for auction for the first time on 27 March, the 2,852 sq ft unit on the 17th floor had an opening price of $6.85 million. It attracted 24 bids, ending the auction at $7.15 million or $2,507 psf.
\n\u201cIn the ever-changing Singapore landscape, one will never know if a high-rise building may be built in front of your property affecting the views. For example, many buildings in District 1 currently enjoy unblocked sea views. However, with the draft URA Master Plan 2019 being announced for more residential buildings to enter the district, one might worry if their views are indeed permanent,\u201d said Joy Tan, head of auction and sales at ET&Co.
\nThe new buyers of the Grange Residences unit, however, will \u201cenjoy the breathtaking view for a long time\u201d as the GCBA and embassy cluster will unlikely be shifted, she noted.
\nTan also described the $7.15 million auction price as \u201cvery attractive, given that another 17th level unit in Grange Residences was sold at $8 million or $2,805 psf in January 2018. Prices in Districts 9 and 10 are also surpassing $3,000 psf in today\u2019s market, with nearby new launches transacting at approximately $3,500 psf\u201d.
\nWhat are property auctions? For more information, read our\u00a0buying guide.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Auction sales down 42.1% in Q1<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The highest transaction registered during the quarter was the mortgagee sale of a unit at...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-105639","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-rtR","jetpack-related-posts":[{"id":92863,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-auction-sales-down-33-in-q2\/","url_meta":{"origin":105639,"position":0},"title":"Property auction sales down 33% in Q2","date":"June 30, 2018","format":false,"excerpt":"\r The lack of big-ticket items being auctioned this year led to the drop in sales value. Singapore\u2019s auction market registered a total sales value of $19.64 million during the second quarter of 2018, down 33 percent from $29.48 million over the same period last year, revealed Edmund Tie &\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":21805,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-homes-on-auction-in-q2-report\/","url_meta":{"origin":105639,"position":1},"title":"More homes on auction in Q2: report","date":"August 3, 2016","format":false,"excerpt":"\r The number of landed properties put up for mortgagee sale rose by 142 percent from last year. The number of residential properties put up for auction increased by 21.2 percent quarter-on-quarter to 103 units in Q2 2016, according to a Knight Frank report. While the sector accounted for the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":96518,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/number-of-properties-put-up-for-auction-rose-23-4-but-sales-value-down\/","url_meta":{"origin":105639,"position":2},"title":"Number of properties put up for auction rose 23.4% but sales value down","date":"August 23, 2018","format":false,"excerpt":"\r Knight Frank revealed that 449 properties were placed under the hammer during the first six months of 2018, up 23.4 percent over the same period last year, while sales value dropped 11.2 percent to around $39.6 million, reported The Straits Times. Despite the rise in the number of properties\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":106167,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-prime-residential-properties-going-up-for-auction\/","url_meta":{"origin":105639,"position":3},"title":"More prime residential properties going up for auction","date":"April 17, 2019","format":false,"excerpt":"\r The hike in mortgagee listings for residential properties was attributed to higher interest rates, last year\u2019s cooling measures and the subdued rental market. The number of residential properties from prime districts 9, 10 and 11 that were listed under mortgagee sale rose 53.8 percent quarter-on-quarter, or 233.3 percent year-on-year\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":116147,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/auction-success-rate-drops-despite-hike-in-mortgagee-sale-listings\/","url_meta":{"origin":105639,"position":4},"title":"Auction success rate drops despite hike in mortgagee sale listings","date":"May 8, 2020","format":false,"excerpt":"\r Singapore saw total auction listings decline 31.1% year-on-year to 235 in the first quarter of 2020, revealed an Edmund Tie report. However, mortgagee sales slightly increased by 2.6% year-on-year to 160 listings. And much like in 2019, the proportion of mortgagee sales significantly increased to 68% in Q1 2020\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":94933,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-auction-sales-fell-in-first-half-2018-colliers\/","url_meta":{"origin":105639,"position":5},"title":"Residential auction sales fell in first half 2018: Colliers","date":"July 27, 2018","format":false,"excerpt":"\r The number of properties put up for auction has increased, but sales have dropped. The total number of Singapore properties placed on the auction block, including re-listings, jumped 21.7 percent year-on-year to 454 or the highest since the second half of 2009, according to a Colliers International report. Of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/105639"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=105639"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/105639\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=105639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=105639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=105639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}