{"id":119973,"date":"2021-01-22T03:36:47","date_gmt":"2021-01-21T20:36:47","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/semi-detached-house-attracted-33-bids-sold-for-3-89mil\/"},"modified":"2021-02-02T17:52:10","modified_gmt":"2021-02-02T10:52:10","slug":"semi-detached-house-attracted-33-bids-sold-for-3-89mil","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/semi-detached-house-attracted-33-bids-sold-for-3-89mil\/","title":{"rendered":"Semi-detached house attracted 33 bids, sold for $3.89mil"},"content":{"rendered":"


\nSemi-detached house attracted 33 bids, sold for $3.89mil33 bids for a property is \u2018abnormal\u2019, says\u00a0Joy Tan, Head of Auction and Sale at Edmund Tie.\u00a0The highest number\u00a0of bids recorded at last year\u2019s property auctions was over 20.\u00a0Image: Google Street View
\nA five-bedroom, semi-detached house within the Siglap area in District 15 was sold for $3.89 million, after receiving 33 bids at the first public property auction of the year, reported The Business Times (BT).
\nBidding for the two-and-one-half storey house along Aida Street opened at $3.25 million. The selling price was $490,000 above its $3.4 million guide price.
\nNestled on a 2,896 sq ft site, the house had a built-up area of 3,872 sq ft. The previous transaction for the property was $1.5 million in 2002.
\nJoy Tan, Head of Auction and Sale at Edmund Tie, described the number of bids received as the largest she had seen in a while.
\nRecommended article:\u00a010 Landed Property Homes Under 2 Million (P.S. Some Are Freehold!)
\nShe noted that the highest number of bids recorded at last year\u2019s property auctions was over 20.
\nThey were for a semi-detached house in Lorong Ah Soo within District 19. Nestled on a 5,144 sq ft site, the freehold six-bedroom house had a built-up area of 8,826 sq ft. It was sold for $5.5 million, with the starting bid at $5 million.
\n\u201cIt\u2019s abnormal to have more than 30 people chasing for a property,\u201d said Tan as quoted by BT. She added that it could be because freehold semi-detached property of this size are seldom available.
\nThe house at Aida Street was the only one sold during the auction on Wednesday (13 January). Of the 16 listings, 14 were mortgagee sales while the other two were owner sales.
\nTan believes the high proportion of mortgagee sales may be a sign of COVID-driven stress, noting that such sales would make up 50% of listings at typical auctions, said BT.
\nSuggested read:\u00a05 Important Considerations When Upgrading to A Bigger Home
\nMeanwhile, the other listings at the auction were withdrawn due to low offers received. Among those withdrawn was the mortgagee listing for a 6,042 sq ft \u201cremnant land\u201d in Sixth Avenue.
\nSurrounded by state land, the freehold site had a guide price of $3 million and attracted over 100 enquiries pre-auction.
\n\u201cRemnant land\u201d refers to irregularly shaped or small plots of land left over following development that are considered unsuitable for independent development because of their shape or size. However, they have the potential to enhance the adjoining land\u2019s economic value and use.
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s Listings, Project Reviews and Guides.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Semi-detached house attracted 33 bids, sold for .89mil<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Semi-detached house attracted 33 bids, sold for $3.89mil33 bids for a property is \u2018abnormal\u2019, says\u00a0Joy...<\/p>\n","protected":false},"author":1,"featured_media":119974,"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-119973","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/01\/aida-street-semi-detatched-.jpg?fit=820%2C410&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-vd3","jetpack-related-posts":[{"id":43485,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/33-bournemouth-road-up-for-sale-by-auction\/","url_meta":{"origin":119973,"position":0},"title":"33 Bournemouth Road up for sale by auction","date":"February 9, 2017","format":false,"excerpt":"\r The property could be redeveloped into two semi-detached homes or rebuilt into a bungalow. (Photo: Edmund Tie & Co.) A single-storey detached home at 33 Bournemouth Road in District 15 will be put up for sale via an auction to be held at The Amara Hotel on 28 February,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":105639,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/auction-sales-down-42-1-in-q1\/","url_meta":{"origin":119973,"position":1},"title":"Auction sales down 42.1% in Q1","date":"April 1, 2019","format":false,"excerpt":"\r The 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. Singapore\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\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":81488,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sentosa-cove-penthouse-sold-at-2-4-million-loss\/","url_meta":{"origin":119973,"position":2},"title":"Sentosa Cove penthouse sold at $2.4 million loss","date":"March 1, 2018","format":false,"excerpt":"\r The four-bedroom unit at The Berth by the Cove was sold for $3.25 million, or $1,105 psf. (Photo: Edmund Tie)\u00a0 A two-level penthouse at Sentosa Cove\u2019s posh The Berth by the Cove was sold on mortgagee sale at an auction on Wednesday (28 Feb) for $3.25 million, which works\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":73625,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/2-projects-sold-en-bloc-for-over-658mil\/","url_meta":{"origin":119973,"position":3},"title":"2 projects sold en bloc for over $658mil","date":"December 4, 2017","format":false,"excerpt":"\r Royalville attracted a total of nine bids which surpassed the $368m asking price. (Photo: Edmund Tie & Co) Marketing agent Edmund Tie & Co announced on Friday (1 December) that it successfully sold two existing developments via collective sale for a total of $658.59 million. In particular, Royalville in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/12\/Crystal-Tower-e1512356063925.jpg?fit=620%2C310&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":20858,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/four-sites-up-for-mortgagee-sale-as-developer-winds-up\/","url_meta":{"origin":119973,"position":4},"title":"Four sites up for mortgagee sale as developer winds up","date":"July 26, 2016","format":false,"excerpt":"\r Several landed homes have gone up for auction after the developer was unable to complete construction work. Several properties by boutique developer C&C Development have recently gone under the hammer, with the firm winding up its business last Friday (22 July), reported The Straits Times. C&C Development\u2019s woes mirrors\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":133457,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-investigating-vacant-bto-flats-being-sold-on-the-open-market-sloane-residences-obtains-top-sells-close-to-90-of-units-and-more\/","url_meta":{"origin":119973,"position":5},"title":"HDB investigating \u201cvacant\u201d BTO flats being sold on the open market, Sloane Residences obtains TOP, sells close to 90% of units, and more","date":"December 27, 2022","format":false,"excerpt":"\r HDB investigating \u201cvacant\u201d BTO flats being sold on the open market, Sloane Residences obtains TOP, sells close to 90% of units, and more20th December to 27th\u00a0December 2022 The Housing and Development Board (HDB) revealed that it is probing cases of \u201cvacant\u201d Build-to-Order (BTO) flats \u2013 or those which appear\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2022\/12\/hdb-construction.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/119973"}],"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=119973"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/119973\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/119974"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=119973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=119973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=119973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}