{"id":114842,"date":"2020-03-11T10:48:38","date_gmt":"2020-03-11T03:48:38","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/auction-listings-rose-34-to-a-new-high-in-2019\/"},"modified":"2020-03-11T11:07:18","modified_gmt":"2020-03-11T04:07:18","slug":"auction-listings-rose-34-to-a-new-high-in-2019","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/auction-listings-rose-34-to-a-new-high-in-2019\/","title":{"rendered":"Auction listings rose 34% to a new high in 2019"},"content":{"rendered":"


\nTotal mortgagee listings soared 59.1% year-on-year to 751, while owner listings increased 14.8% year-on-year to 707.
\nSingapore 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.
\nTotal mortgagee listings soared 59.1% year-on-year to 751, while owner listings increased 14.8% year-on-year to 707.
\nThe number of listings climbed across the board, with residential properties leading with 798 listings.
\nRead:\u00a040% of Singaporeans still don\u2019t know about refinancing: Study
\nIn fact, the residential sector made up 57.5% of the total mortgagee sale listings at 432.
\n\u201cWe believe the higher mortgage payments due to rising interest rates during 2015-2019, coupled with a subdued residential rental market, have contributed to the increase in residential mortgagee sale listings,\u201d said Tricia Song, Head of Research for Singapore at Colliers International.
\n\u201cPersonal circumstances such as loss of job or bankruptcy could also have led to higher defaults. Post cooling measures in July 2018, we think possibly more distressed owners were unable to dispose of properties quickly enough and may have defaulted on their loans.\u201d
\nDespite the hike in auction listings, the number of properties sold at auctions dropped 40% year-on-year to 21 in 2019 from 35 in 2018.
\nAs such, the success rate dropped further to 1.4%, way lower than the 3.2% posted in 2018.
\nSteven Tan, Senior Director of Capital Markets at Colliers International, said the declining success rate mirrored the continued price gap between buyers and sellers.
\nHe also noted that only eight out of 21 of the properties sold during auctions were transacted above their opening prices, signifying that buyers still took a cautious stance during auctions, while sellers continue to hold onto prices.
\n\u201cIt may also be a case of buyers needing more time before taking the plunge, which resulted in some sales being done after auction sessions \u2013 these sales are not reflected in the data set under successful auction sales,\u201d he added.
\nLooking ahead, Colliers Research expects this year\u2019s total listings to grow 10% as \u201cmore properties are put up for sale amid an uncertain environment, particularly in view of the potential economic impact should the COVID-19 outbreak becomes protracted\u201d.
\nLooking for a property in Singapore? Visit\u00a0PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\n\u00a0
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Auction listings rose 34% to a new high in 2019<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Total mortgagee listings soared 59.1% year-on-year to 751, while owner listings increased 14.8% year-on-year to...<\/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-114842","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-tSi","jetpack-related-posts":[{"id":106167,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-prime-residential-properties-going-up-for-auction\/","url_meta":{"origin":114842,"position":0},"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":113624,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/knight-frank-report-auction-listings-jumped-23-9-in-2019\/","url_meta":{"origin":114842,"position":1},"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":116147,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/auction-success-rate-drops-despite-hike-in-mortgagee-sale-listings\/","url_meta":{"origin":114842,"position":2},"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":121149,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/auction-success-rate-to-exceed-5-this-year\/","url_meta":{"origin":114842,"position":3},"title":"Auction success rate to exceed 5% this year","date":"July 29, 2021","format":false,"excerpt":"\r Auction success rate to exceed 5% this yearThe auction success rate was at 6.5% in Q2 2021, with\u00a013 properties, with a gross value of $36.9 million, being sold. Knight Frank expects the auction success rate for this year to surpass 5%, amidst an increased inventory as well as an\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/07\/Property-Auction-crop.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":112109,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-listings-under-mortgagee-sale-grow-by-14-4-in-q3-2019\/","url_meta":{"origin":114842,"position":4},"title":"Residential listings under mortgagee sale grow by 14.4% in Q3 2019","date":"November 1, 2019","format":false,"excerpt":"\r The growth in residential listings under mortgagee sale was due to added pressures on owners that were overly exposed in the middle of increased volatility in the financial markets.\u00a0 The number of residential listings under mortgagee sale grew in Q3 2019 by 14.4% quarter-on-quarter (QoQ) to 103 listings, making\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":105733,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/condo-listings-under-mortgagee-sale-up-in-q1\/","url_meta":{"origin":114842,"position":5},"title":"Condo listings under mortgagee sale up in Q1","date":"April 3, 2019","format":false,"excerpt":"\r Residential listings under mortgagee sale continue to make up the bulk of total mortgagee listings. Private condominium listings under mortgagee sale have been on the uptrend as mortgage payments have been rising on the back of increasing interest rates. For the first quarter of 2019, non-residential listings under mortgagee\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\/114842"}],"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=114842"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/114842\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=114842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=114842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=114842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}