{"id":96518,"date":"2018-08-23T09:57:06","date_gmt":"2018-08-23T02:57:06","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/number-of-properties-put-up-for-auction-rose-23-4-but-sales-value-down\/"},"modified":"2018-08-23T10:02:59","modified_gmt":"2018-08-23T03:02:59","slug":"number-of-properties-put-up-for-auction-rose-23-4-but-sales-value-down","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/number-of-properties-put-up-for-auction-rose-23-4-but-sales-value-down\/","title":{"rendered":"Number of properties put up for auction rose 23.4% but sales value down"},"content":{"rendered":"


\nKnight 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.
\nDespite the rise in the number of properties put up for auction during the first half of the year, transaction value fell due to the absence of big-ticket landed units.
\nThe property consultancy noted that residential property dominated the auction listings, which included 157 for mortgagee listings, a decline from the 159 registered in 2H 2017.
\n\u00a0The pipeline of mortgagee listings stabilized as some owners were able to sell their properties prior to foreclosure, said Knight Frank.
\n\u00a0The number of prime residential properties being auctioned remained subdued in 1H 2018, likely because the wealth of en bloc sales and the increased interest from foreigners implied lesser need to place the properties up for auction.
\n\u00a0Meanwhile, District 17, which include the Loyang and Changi areas, witnessed a significant rise in interest, with 23 residential auction listings in 1H 2018 \u2013 its highest since 2011.
\n\u00a0With no big ticket items sold, residential properties sold at auction achieved an average price of $2 million, down from $2.9 million last year.
\n\u00a0Looking ahead, Knight Frank expects this year\u2019s auction listing to include more residential units as homeowners find it hard to sell their properties due to the new cooling measures.
\n\u00a0It was added that the number of mortgagee listings will likely remain stable despite higher interest rates as the hike have been gradual and the rental market has showed some improvement.
\n\u00a0But considering the recent cooling measures, Knight Frank expects buyers to be even more price-sensitive.
\nEugenia Rosaline Shlaen edited this story. To contact her about this or other stories, email eugenia@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Number of properties put up for auction rose 23.4% but sales value down<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Knight Frank revealed that 449 properties were placed under the hammer during the first six...<\/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-96518","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-p6K","jetpack-related-posts":[{"id":106167,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-prime-residential-properties-going-up-for-auction\/","url_meta":{"origin":96518,"position":0},"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":119952,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-auction-market-posted-higher-success-rates-in-2020\/","url_meta":{"origin":96518,"position":1},"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":[]},{"id":121149,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/auction-success-rate-to-exceed-5-this-year\/","url_meta":{"origin":96518,"position":2},"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":104759,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/auction-sales-slumped-46-5-to-55-3m-in-2018\/","url_meta":{"origin":96518,"position":3},"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":122692,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/auction-success-rate-drops-to-4-7-in-q3\/","url_meta":{"origin":96518,"position":4},"title":"Auction success rate drops to 4.7% in Q3","date":"October 20, 2021","format":false,"excerpt":"\r A 26.5% decline in the number of overall auction listings overall was also reported, with\u00a0150 listings in Q3 2021, down from 204 listings in Q2 2021. Singapore\u2019s property auction market saw success rate drop 4.7% in the third quarter of 2021, from 6.4% in the preceding quarter, according to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/10\/property-auction.jpg?fit=820%2C411&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":21805,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-homes-on-auction-in-q2-report\/","url_meta":{"origin":96518,"position":5},"title":"More homes on auction in Q2: report","date":"August 3, 2016","format":false,"excerpt":"\r The number of landed properties put up for mortgagee sale rose by 142 percent from last year. The number of residential properties put up for auction increased by 21.2 percent quarter-on-quarter to 103 units in Q2 2016, according to a Knight Frank report. While the sector accounted for the\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\/96518"}],"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=96518"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/96518\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=96518"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=96518"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=96518"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}