{"id":106167,"date":"2019-04-17T12:40:20","date_gmt":"2019-04-17T05:40:20","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-prime-residential-properties-going-up-for-auction\/"},"modified":"2019-04-17T13:02:53","modified_gmt":"2019-04-17T06:02:53","slug":"more-prime-residential-properties-going-up-for-auction","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-prime-residential-properties-going-up-for-auction\/","title":{"rendered":"More prime residential properties going up for auction"},"content":{"rendered":"


\nThe hike in mortgagee listings for residential properties was attributed to higher interest rates, last year\u2019s cooling measures and the subdued rental market.
\nThe 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 to 20 during the first quarter of 2019, revealed a Knight Frank report.
\nThis comes as the number of auction listings under mortgagee sale rose 28.2 percent quarter-on-quarter, or 112 percent year-on-year to 159, with residential listings accounting for 52.2 percent of total mortgagee listings.
\nSEE ALSO:\u00a07 Questions About Property Auctions
\nKnight Frank attributed the hike in mortgagee listings for residential properties to higher interest rates, last year\u2019s cooling measures and the subdued rental market.
\n\u201cWith the cooling measures in place, distressed owners were unable to divest their properties quickly and more properties were foreclosed. This led to the 69.4 percent year-on-year increase in residential listings under mortgagee sale.\u201d
\nMeanwhile, the number of owner sale residential listings also climbed 16.2 percent quarter-on-quarter, or 218.5 percent year-on-year to 86.
\n\u201cMany owners believed that auction is a good mode of sale because it offers greater exposure for their properties,\u201d said the property consultancy.
\nIn fact, more owners in districts 9, 10 and 11 listed their residential properties for auction, with the listings rising 27.3 percent quarter-on-quarter to 28.
\nNon-landed residential listings accounted for half of total residential owner sale listings from said districts, of which over 64 percent are two-bedroom units measuring between 650 sq ft and 900 sq ft.
\nThe report also showed that the number of auction listings in Q1 2019 more than doubled to 362 from the previous year, with the five properties sold under the hammer translating to a total gross sales value of $11.6 million.
\nLooking ahead, Knight Frank expects the number of auction listings for this year to increase year-on-year, mirroring the hike in interest rate and uncertain external environment in the first half of 2019.
\n\u201cNotwithstanding, the Federal Reserve announced they will not be increasing the rate for 2019,\u201d it said. \u201cTogether with an improving leasing market, we may see the number of mortgagee listings stabilising towards the end of 2019.\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…More prime residential properties going up for auction<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The hike in mortgagee listings for residential properties was attributed to higher interest rates, last...<\/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-106167","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-rCn","jetpack-related-posts":[{"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":106167,"position":0},"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":104759,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/auction-sales-slumped-46-5-to-55-3m-in-2018\/","url_meta":{"origin":106167,"position":1},"title":"Auction sales slumped 46.5% to $55.3m in 2018","date":"March 7, 2019","format":false,"excerpt":"\r Despite this, buyers are more discerning and cautious after the cooling measures, and they will likely seek auctions for good buys in the market, said an analyst. The overall value of properties successfully auctioned off in Singapore sharply declined by 46.5 percent year-on-year to $55.3 million in 2018, according\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":113624,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/knight-frank-report-auction-listings-jumped-23-9-in-2019\/","url_meta":{"origin":106167,"position":2},"title":"Knight Frank report: Auction listings jumped 23.9% in 2019","date":"January 15, 2020","format":false,"excerpt":"\r The surge in mortgage sale listings was due to higher retrenchments, hikes in interest rates, and drop in rental payments. Given the subdued economic growth in 2019, Singapore saw the number of auction listings, including repeat listings, jump 23.9% year-on-year to 1,387 in 2019, revealed a Knight Frank report.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":114842,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/auction-listings-rose-34-to-a-new-high-in-2019\/","url_meta":{"origin":106167,"position":3},"title":"Auction listings rose 34% to a new high in 2019","date":"March 11, 2020","format":false,"excerpt":"\r Total mortgagee listings soared 59.1% year-on-year to 751, while owner listings increased 14.8% year-on-year to 707. Singapore saw total auction listings jump 34% year-on-year to a new high of 1,458 listings in 2019 as both owner listings and mortgagee listings registered strong increases, revealed Colliers International. Total mortgagee listings\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":106167,"position":4},"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":119952,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-auction-market-posted-higher-success-rates-in-2020\/","url_meta":{"origin":106167,"position":5},"title":"Singapore auction market posted higher success rates in 2020","date":"January 26, 2021","format":false,"excerpt":"\r Despite a fall in auction listings from 1,387 in 2019 to 497 in 2020,\u00a0the auction market still posted higher success rates, increasing to 3.6% from 1.4% in the previous year. Singapore saw total auction listings, including repeat listings, for 2020 fell to 495 from 1,387 in 2019 as physical\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/01\/property-auction.jpg?fit=820%2C411&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/106167"}],"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=106167"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/106167\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=106167"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=106167"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=106167"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}