{"id":92863,"date":"2018-06-30T07:15:32","date_gmt":"2018-06-30T00:15:32","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-auction-sales-down-33-in-q2\/"},"modified":"2018-06-30T08:02:48","modified_gmt":"2018-06-30T01:02:48","slug":"property-auction-sales-down-33-in-q2","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-auction-sales-down-33-in-q2\/","title":{"rendered":"Property auction sales down 33% in Q2"},"content":{"rendered":"


\nThe lack of big-ticket items being auctioned this year led to the drop in sales value.
\nSingapore\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 & Company.
\nOn a quarterly basis, the Q2 sales figure was slightly lower than the $19.97 million registered in Q1 2018.
\nMore: En Bloc Fever Spreads To Property Auction Market
\nThe figures do not include private treaty sales as well as units transacted before or after the auction.
\nThe property consultancy attributed the drop in sales value to the lack of high quantum properties sold this year.
\nMeanwhile, Q2 2017\u2019s sales value was higher as several big-ticket items were auctioned last year. These included a bungalow at Chestnut Drive which was sold for $11.38 million, a shophouse at Jalan Besar that was transacted for $5.23 million, and three other residential units sold above the $3 million mark.
\n\u201cWe have transacted several high-end properties this quarter before the auctions via private treaty,\u201d said Joy Tan, head of auction & sales at Edmund Tie & Co.
\n\u201cEven so, the only auctioned unit with a higher sales value was a semi-detached unit at 25 Pasir Ris Way, within the Pasir Ris Beach Estate.\u201d
\nDuring the quarter under review, mortgagee sales and owner\/estate sales have been equally popular among bidders \u2013 a shift from previous trends.
\nThis quarter saw five owner\/estate sales totalling $11.19 million and five mortgagee sales worth $8.45 million.
\nIn 2017, there were 33 forced-sale units under mortgagee\u2019s, receiver\u2019s, sheriff\u2019s sale and 12 volunteered sale units (under owner\u2019s, estate\u2019s, trustee\u2019s sale).
\n\u201cIn past years, we noticed that mortgagee sales have dominated the auction floor. However, owners\u2019 listings have caught up and exceeded the number of mortgagee sales this quarter,\u201d said Tan.
\n\u201cThis is a reflection of how the market has accepted auction as an alternative way to sell their properties.\u201d
\nWhat are property auctions? For more information, read our buying 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…Property auction sales down 33% in Q2<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The lack of big-ticket items being auctioned this year led to the drop in sales...<\/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-92863","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-o9N","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":92863,"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. 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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":32386,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-auction-sales-surge-in-q4\/","url_meta":{"origin":92863,"position":2},"title":"Property auction sales surge in Q4","date":"October 31, 2016","format":false,"excerpt":"\r View of the vacant land plots within Swiss Club Estate, which were sold through an auction for $15.22 million. (Photo: JLL Singapore) Property auction sales in Singapore gained momentum during the last quarter of 2016, with transaction volume reaching $44.02 million even before the end of October, revealed a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/10\/2016-auction-sales.png?fit=495%2C260&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":62968,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/strong-q3-start-for-the-auction-market\/","url_meta":{"origin":92863,"position":3},"title":"Strong Q3 start for the auction market","date":"August 7, 2017","format":false,"excerpt":"\r \u00a0 Singapore\u2019s auction sales market was off to a strong third quarter start, with total sales value at S$34.8 million for the month of July alone, revealed an Edmund Tie & Company report. 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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":38189,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-auction-sales-up-significantly-in-q4\/","url_meta":{"origin":92863,"position":5},"title":"Property auction sales up significantly in Q4","date":"December 15, 2016","format":false,"excerpt":"\r Q4 auction sales accounted for over half of total sales in 2016. (Photo: JLL) Property auction sales for the fourth quarter of 2016 exceeded expectations, with total sales at $47.2 million, or 51 percent of this year\u2019s tally, said property consultancy JLL. 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