{"id":84132,"date":"2018-03-29T11:15:59","date_gmt":"2018-03-29T04:15:59","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/en-bloc-fever-spreads-to-property-auction-market\/"},"modified":"2018-03-29T12:02:53","modified_gmt":"2018-03-29T05:02:53","slug":"en-bloc-fever-spreads-to-property-auction-market","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/en-bloc-fever-spreads-to-property-auction-market\/","title":{"rendered":"En bloc fever spreads to property auction market"},"content":{"rendered":"


\nMore properties being sold at auction.
\nInvestors are apparently searching for homes in the auction market that can be sold in future for a good profit via collective sale, according to an Edmund Tie & Co report released today (29 Mar).
\n\u201cIn the last six months, we noticed that older developments completed before 2000 are attracting more interest, with some investors looking to ride the en bloc wave. During the marketing period of the units, we often receive queries about the en bloc potential of the development,\u201d said Joy Tan, the property consultancy\u2019s head of auction and sales.
\nMore: Sentosa Cove penthouse sold at $2.4 million loss
\nFor instance, six out of the 11 units successfully auctioned off in Q1 2018 were built before 2000. In terms of value, these accounted for $10.23 million out of the $19.97 million total auction sales.
\nThe most expensive unit was a house in the Leighwoods, a freehold condominium built in 1985, which was sold for $2.9 million. This is followed by the $2.5 million sale of a unit in Spring Grove, a 99-year-leasehold development completed in 1996. The remaining units were sold for between $620,000 and $1.71 million.
\nOverall, the number of properties sold in Singapore\u2019s auction market rose from eight in Q1 2017 to 11 during the first quarter of 2018. Total value reached $19.97 million, up from $15.23 million in Q1 2017 and $9.62 million in the first quarter of 2016.
\nThe most expensive residential property was a home in The Berth by the Cove, which was picked up for $3.25 million, followed by the Leighwoods unit and another residence in Spring Grove that was purchased for $2.5 million. The remaining residential units were priced from $620,000 to $2.23 million.
\nSpecifically, one landed and eight non-landed homes were bought for a total of $15.56 million. The units sold are distributed evenly between core and non-core regions, compared to past auction sales wherein properties in non-core areas are more likely to be bought due to their lower prices.
\n\u201cIt is positive to see a strong start to the auction market in 2018, with an upward trend seen over the last two years,\u201d Tan noted.
\n\u201cWe expect a steady increase in (auction) sales throughout this year, especially as owners who are cashing out on their successful en bloc sales begin to search for replacement units.\u201d
\nCheck out more properties up for auction.
\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…En bloc fever spreads to property auction market<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

More properties being sold at auction. Investors are apparently searching for homes in the auction...<\/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-84132","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-lSY","jetpack-related-posts":[{"id":120287,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-development-off-east-coast-to-go-en-bloc-via-auction\/","url_meta":{"origin":84132,"position":0},"title":"Freehold development off East Coast to go en bloc via auction","date":"February 10, 2021","format":false,"excerpt":"\r Freehold development off East Coast to go en bloc via auctionCollective sales via auction is a rarity in Singapore since most are done via tender. This will be the first since 1997. A three-storey apartment building off East Coast Road is set to be put up for en bloc\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/02\/property-auction.jpg?fit=820%2C411&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":71621,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/home-sales-via-auction-soar-to-record-high\/","url_meta":{"origin":84132,"position":1},"title":"Home sales via auction soar to record high","date":"November 13, 2017","format":false,"excerpt":"\r Auction sales of residential properties in Singapore hit a one-year record high of $31.9 million in Q3 2017, according to a new report from Knight Frank. By value, this respectively translates to a 40.3 percent and 166.8 percent surge from the prior quarter and same period a year ago.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":92863,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-auction-sales-down-33-in-q2\/","url_meta":{"origin":84132,"position":2},"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":94933,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-auction-sales-fell-in-first-half-2018-colliers\/","url_meta":{"origin":84132,"position":3},"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":[]},{"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":84132,"position":4},"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":32023,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/over-20-properties-sold-at-auction\/","url_meta":{"origin":84132,"position":5},"title":"Over 20 properties sold at auction","date":"October 29, 2016","format":false,"excerpt":"\r Sixteen of those properties sold at auction in Auckland and a further seven were sold by Colliers' franchises including Christchurch, Hawke's Bay and Hamilton.In the Auckland auctions, a combination of quality tenanted retail units...\r \r Source : nzherald.co.nz\/Property\r Read more...Over 20 properties sold at auction","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\/84132"}],"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=84132"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/84132\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=84132"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=84132"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=84132"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}