{"id":94933,"date":"2018-07-27T11:22:56","date_gmt":"2018-07-27T04:22:56","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-auction-sales-fell-in-first-half-2018-colliers\/"},"modified":"2018-07-28T21:03:31","modified_gmt":"2018-07-28T14:03:31","slug":"residential-auction-sales-fell-in-first-half-2018-colliers","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-auction-sales-fell-in-first-half-2018-colliers\/","title":{"rendered":"Residential auction sales fell in first half 2018: Colliers"},"content":{"rendered":"


\nThe number of properties put up for auction has increased, but sales have dropped.
\nThe 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.
\nOf this, there were 234 residential properties, up 15.8 percent from the 202 houses listed for auction during the corresponding period a year ago.
\nWhat are property auctions? For more information, read our\u00a0buying guide.
\nSpecifically, residential mortgagee listings or the number of foreclosed homes placed under the hammer by banks rose 11 percent to 121 units on an annual basis.
\nIn comparison, owners\u2019 listings or the number of all properties (residential, industrial and retail) listed for auction by their owners surged 37.3 percent to 254 on a yearly basis.
\n\u201cMore owners have taken to listing via auctions to maximise exposure (and get the best price), while mortgagee listings grew at a slower pace given the improved economy,\u201d said Colliers\u2019 assistant research manager Nathan Nguyen.
\nOf the 454 properties listed for auction, 21 were successfully sold in H1 2018. Although this is slightly higher than the 20 auctioned off in the same period a year ago, this is 25 percent lower than the 28 sold in the second half of 2017, as there were fewer residential and retail properties transacted.
\nOf the 21, 11 were mortgagee sales, of which eight comprised residential properties \u2013 the same number of residential mortgagee sales in H1 2017.
\nOverall, auction sales involving all types of properties fell to $35.3 million from the $46.2 million recorded in the same period a year ago due to lower prices per unit.
\n\u201cTotal sales value fell 23.6 percent as mortgagee sales value edged down marginally by 5.3 percent year-on-year. With the implementation of new cooling measures in the private residential sector, we may well see investors\u2019 interest shifting to strata-titled commercial units and shophouses,\u201d noted Nguyen.
\nIn all, 17 residential properties were successfully auctioned off for a total of $29.5 million, down from the $38.3 million during H1 2017. The biggest residential deal during the latest period is the $2.7 million sale of a condo unit. In comparison, one of the largest deals in the prior year was the divestment of a Good Class Bungalow (GCB) for $11.4 million in April.
\nFurthermore, Colliers thinks that owners of en bloc sites may turn to the auction market for replacement homes. However, it expects overall auction sales to fall to $85 million to $90 million this year versus $107 million for the whole of 2017.
\n\u201cWe expect auction listings to continue growing, driven by increased owners\u2019 listings across most sectors. Mortgagee listings may plateau or grow at a slower rate with less distress in residential and office markets as these underlying markets picked up strongly over the past two quarters,\u201d it added.
\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…Residential auction sales fell in first half 2018: Colliers<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The number of properties put up for auction has increased, but sales have dropped. The...<\/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-94933","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-oHb","jetpack-related-posts":[{"id":107001,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/success-rate-at-auction-remains-low-despite-surge-in-listings\/","url_meta":{"origin":94933,"position":0},"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":114842,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/auction-listings-rose-34-to-a-new-high-in-2019\/","url_meta":{"origin":94933,"position":1},"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":94933,"position":2},"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":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":94933,"position":3},"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":104759,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/auction-sales-slumped-46-5-to-55-3m-in-2018\/","url_meta":{"origin":94933,"position":4},"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":119952,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-auction-market-posted-higher-success-rates-in-2020\/","url_meta":{"origin":94933,"position":5},"title":"Singapore auction market posted higher success rates in 2020","date":"January 26, 2021","format":false,"excerpt":"\r Despite 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. Singapore saw total auction listings, including repeat listings, for 2020 fell to 495 from 1,387 in 2019 as physical\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/01\/property-auction.jpg?fit=820%2C411&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/94933"}],"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=94933"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/94933\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=94933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=94933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=94933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}