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News Release

Singapore

Auction sales picks up pace in Q4 2016

October sales made up almost half of total sales YTD


​Singapore, 28 October 2016

Auction sales has seen  an uptick in numbers over the quarters, with total sales value of SGD 45.0 million concluded by 3Q16, and SGD 44.0 million hammered thus far in 4Q16.,  The positive trend throughout the quarters is seen below:

 

Total auction sales in 4Q16 was given a boost by the sale of three vacant plots of land within the prime Swiss Club estate for SGD 15.222 million, as well as a landed property at 4 Jalan Bahasa for SGD 12.3 million.

The results of the auctioned units thus far are as follows.​

​4Q16 (YTD) Auction ​Results ​ ​
 UnitProperty TypeAuctioned AmountSeller Profile
1

Vacant Land

of lots 1939X, 1957L, 1945M MK 15

Residential
(vacant land)
$15,222,000Owner
221 Daffodil DriveResidential$4,350,000Estate
34 Jalan BahasaResidential$12,300,000Liquidator
4Seascape #08-07Residential$6,350,000Mortgagee
5Aquarius by the Park #04-01Residential$800,000Mortgagee
6Pine Grove #15-09Residential$1,310,000Mortgagee
7Simsville #11-01Residential$1,100,000Mortgagee
8Hillvista #06-11Residential$1,300,000Receiver's
9221 Henderson Building #06-20Industrial$1,290,000Owner

 

At JLL's auction on 25 October 2016, three vacant lands within Swiss Club estate attracted a total of 14 bids. The three plots of land are flanked by Swiss Club Link, Jalan Kampung Chantek and Bukit Tinggi Road, off prime Dunearn Road / Bukit Timah Road and are surrounded by prestigious institutions such as Swiss Club, The British Club, Hollandse School, Singapore Korean International School and German European School.

 

LOT/MKLAND AREA (APPROX.)TENURE
Lot 1939X Mukim 1525,861 sq ftFreehold
Lot 1957L Mukim 157,457 sq ft999 years wef 10/08/1878
Lot 1945M Mukim 154,030 sq ftFreehold


JLL also closed the estate sale of 21 Daffodil Drive, located off Upper Thomson Road, which was sold at SGD 4.35 million after nine bids were received. The subject property is currently a single storey detached unit which is ideal for redevelopment, given its corner and square land plot, and its proximity to Thomson Plaza, MacRitchie Reservoir and Nature Reserve, Singapore Island Country Club, and upcoming Upper Thomson MRT station.

4 Jalan Bahasa, located off Dunearn Road, and near the Swiss Club plots, was the third successful landed property at SGD 12.3 million. Also a corner and square land plot, the subject property is currently a 2-storey detached unit suitable for redevelopment, given its prime District 11 and CCR (core central region) locality. This unit attracted 18 bids after it opened at SGD 11.5 million.

These three successful sales indicate that there are keen buyers in the market looking for landed units within good locations that are suitable for redevelopment. One such potential property is a two-storey beach-front bungalow along Pasir Ris Road, located directly opposite Pasir Ris Beach, on a land of approx. 10,991 sq ft, with opening price of SGD 8.45 million. While not successfully auctioned off, it has garnered keen interest post auction.

JLL also auctioned off a 4-bedroom duplex penthouse unit at Seascape at Sentosa Cove for SGD 6.35 million or SGD 1,497 per square feet. The previous owner purchased the unit from the developer at SGD 11.0 million or SGD 2,594 per square feet in December 2011, translating in a loss of SGD 4.65 million or 42.3 per cent.

Said Mok Sze Sze, Head of Auctions for JLL Singapore: "We are off to a good start for the last quarter of the year, with October sales value making up almost half the total sales value of SGD 88.9 million year to date. We see renewed interest in the auction market, especially for landed units in favourable locations with redevelopment potential."​

-ends-

 

Note to editors:

1.        Download an image of Lot 1945M here.

2.        Download images of Lot 1939X here and here.

3.        Download an image of Seascape here.

4.        Download an image of 21 Daffodil drive here.​