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News Release

Singapore

Total value sold at auction hits an all-time-high since 2011

Private residential mortgagee sales value recorded its highest in ten years


​​​​​​​SINGAPORE, 18 December 2017 – Rounding up 2017, the total number of properties successfully sold in auctions rose slightly from 41 in 2016 to 45 in 2017. Similarly, total value of successful auction sales crept up by 9.44 per cent from SGD 94.43 million in 2016 to SGD 103.35 million in 2017. The total sales quantum of SGD 103.35 million in 2017 recorded as the highest since 2011. 

Figure 1: Proportion of Total Number of Sales During Auction by Sector for 2017

 

Residential properties remained the bulk of deals, which stood at 77.2 per cent of the SGD 103.35 million of total sales.

The largest sales hammered in 2017 includes a Good Class Bungalow (GCB) at 86 Chestnut Drive in April which was sold at SGD 11.38 million, as well as a 5-storey commercial building located at 32 South Bridge Road which was sold at SGD 6.68 million in November.  

A notable trend observed over the years, was the sustained increase in proportion of mortgagee properties reflected in the sales listings. For instance, the number of mortgagee sales recorded an increase of 9.1 per cent on a y-o-y basis.  

Subsequently, this year saw the sales quantum for private residential mortgagee properties totaled to SGD 51.18 million, which is the highest recorded value in over ten years. Of the private residential mortgagee listings, purchasers were largely interested in landed properties with freehold tenure, as indicated in Table 1. 

​Table 1: Top 10 Residential Mortgagee Properties sold in 2017​ ​ ​ ​ ​
​Address​Selling Price (SGD)​Month Sold​Property Type​Tenure
​80 Lorong G Telok Kurau​6,500,000​Jul​Landed​Freehold
​27 Chiltern Drive​5,500,000​NovLanded​Freehold
​The Trillium
112 Kim Seng Road
​4,600,000​Jul​Non-landed​Freehold
​159A Eng Kong Garden​3,950,000​MarLanded​Freehold
St. Regis Residences
33 Tanglin Road
​3,370,000​May​Non-landed​Freehold
​6 Surin Lane​3,190,000​Jun​Landed​999 years
​46 Kelulut Hill​2,680,000​Aug​Landed​Freehold
​272 Upper Thomson Road​1,900,000​Jul​Landed​999 years
​Caribbean at Keppel Bay
44 Keppel Bay Drive
​1,800,000​Mar​Non-landed​Freehold
​Urbana
1 River Valley Close
​1,700,000​Jul​Non-landed​Freehold
​Source: JLL Research, December 2017 ​ ​ ​ ​

  

Ms Mok Sze Sze, Head of Auction and Sales at JLL, noted: 

“As market sentiments improve, more buyers are expected to enter the market going forward. We expect increase in interest especially for mortgagee’s sale. We foresee that motivated owners are also likely to be attracted to use auction as a platform to secure a buyer through competitive bidding and to take advantage of the inherent qualities of an auction sale in order to garner buying interest and achieve optimal price within a specific timeframe.”