{"id":119952,"date":"2021-01-26T04:06:54","date_gmt":"2021-01-25T21:06:54","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-auction-market-posted-higher-success-rates-in-2020\/"},"modified":"2021-02-02T17:51:56","modified_gmt":"2021-02-02T10:51:56","slug":"singapore-auction-market-posted-higher-success-rates-in-2020","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-auction-market-posted-higher-success-rates-in-2020\/","title":{"rendered":"Singapore auction market posted higher success rates in 2020"},"content":{"rendered":"


\nDespite 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.
\nSingapore saw total auction listings, including repeat listings, for 2020 fell to 495 from 1,387 in 2019 as physical auctions were barred for most of the second quarter and third quarter of 2020 due to circuit breaker measures as well as safe distancing restrictions, revealed a Knight Frank report.
\nDespite this, the auction market still posted higher success rates in 2020, increasing to 3.6% from 1.4% in the previous year.
\nThis comes as demand for landed homes and industrial properties \u201cboosted successful sales during the limited auctions held in the year\u201d, said Knight Frank.
\nAs auctions resumed in Q4 2020, success rate spiked to 8.1%.
\nWith only two quarters of auction activity, mortgagee sale listings (including repeat listings) fell 51.7% year-on-year to 304 listings in 2020.
\nRecommended article:\u00a0Property Auctions in Singapore: A Lesser Known Way To Snag Affordable Property
\nSuccessful mortgagee sales made up 78.2% of 2020\u2019s total gross sales value at $22.9 million, as the pandemic took its toll on businesses and individuals.
\nOf the mortgagee listings in 2020, residential properties accounted for 46.1% at 140. Of these, 39 were landed homes and 101 were non-landed home listings.
\n\u201cFuelled by demand for bigger living and open spaces, five landed mortgagee properties were sold during auction compared to none in 2019,\u201d said the report.
\n\u201cOf the five sales, four were snapped up during the first auction attempt at prices above or at their opening price. All four were located outside of the traditional prime districts in Districts 12 (Balestier, Toa Payoh, Serangoon), 19 (Serangoon Garden, Hougang, Ponggol) and 21 (Upper Bukit Timah, Clementi Park, Ulu Pandan).\u201d
\nYear 2020 also saw 97 industrial mortgagee listings, with 56 listing in Q1 2020 and 41 in Q4 2020.
\nKnight Frank noted that seven industrial properties were sold in Q4 2020 alone. The properties were situated in more accessible locations like Lavender Street and close to regional centres of Woodlands and Tampines.
\nPriced at below $1.5 million, the industrial properties were smaller than 2,500 sq ft and were likely acquired for owner occupation.
\nMeanwhile, there were 51 retail mortgagee listings in 2020, of which 19 were located in District 14 along Geylang, Jalan Eunos and Changi Road.
\nAll but one had floor areas of less than 1,000 sq ft.
\nIn 2020, owner sale listings fell 73.8% to 180 from 687 in 2019.
\nSuggested read:\u00a0How Cheap is Enough? Tips to Hunt for Undervalued Properties
\n\u201cThe extension of loan repayment deferrals beyond 2021 might have provided some reprieve for owners to hold onto their property assets, temporarily allaying plans for divestment and owner sales,\u201d said Knight Frank.
\nOut of the 106 residential owner sale listings, 38 were landed and 68 were non-landed listings.
\nA three-storey terrace home at Woodsville Close, emerged as the sole successful owner sale for 2020. It was sold under the hammer for $2,770,000, or 1.1% below the opening price, in October.
\nLooking ahead, Knight Frank expects more industrial, commercial and residential properties to be listed for auction this year as \u201ca greater number of individuals are expected to face challenges servicing mortgages and financial pressure from creditors due to salary cuts or job losses\u201d.
\n\u201cWhile government support schemes like the extension of Singapore\u2019s debt moratorium programme into 2021 will mitigate the fallout from the pandemic, the withdrawal of the main support measures will inevitably lead to some business attrition in 2021 despite the forecasted economic recovery,\u201d it said.
\nKnight Frank expects strata industrial and strata retail properties (typically occupied by smaller businesses) to account for a significant proportion of 2021\u2019s auction listings.
\n\u201cGross sales value is projected to double that of 2020 with sales volume likely to pick up from March, and success rates reaching around 5% of total listings in 2021,\u201d it added.
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s Listings, Project Reviews and Guides.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Singapore auction market posted higher success rates in 2020<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Despite a fall in auction listings from 1,387 in 2019 to 497 in 2020,\u00a0the auction...<\/p>\n","protected":false},"author":1,"featured_media":119953,"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-119952","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/01\/property-auction.jpg?fit=820%2C411&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-vcI","jetpack-related-posts":[{"id":113624,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/knight-frank-report-auction-listings-jumped-23-9-in-2019\/","url_meta":{"origin":119952,"position":0},"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":107001,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/success-rate-at-auction-remains-low-despite-surge-in-listings\/","url_meta":{"origin":119952,"position":1},"title":"Success Rate At Auction Remains Low Despite Surge In Listings","date":"May 10, 2019","format":false,"excerpt":"\r More properties are being listed at auctions, but success rates remain low \u2013 here\u2019s why.\u00a0 Despite the hike in the number of properties listed for auction in the first quarter of 2019, the probability of having the properties sold fell to dismal lows, reported Singapore Business Review. Knight Frank\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":119952,"position":2},"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":121149,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/auction-success-rate-to-exceed-5-this-year\/","url_meta":{"origin":119952,"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":114842,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/auction-listings-rose-34-to-a-new-high-in-2019\/","url_meta":{"origin":119952,"position":4},"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":106167,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-prime-residential-properties-going-up-for-auction\/","url_meta":{"origin":119952,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/119952"}],"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=119952"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/119952\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/119953"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=119952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=119952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=119952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}