Auction listings up 9.3% QoQ in Q2

The success rate was 4.9%, with four properties knocked down.

Singapore’s auction sale listings went up to 82 in Q2 2023 from 75 in Q1 2023, Knight Frank report showed.

In a statement, Knight Frank said the total auction listings dropped 30.5% YoY from 118 in Q2 2022.

The total gross sales value, meanwhile, was worth $4.8m in Q2 2023, up 16% from than $4.1m gross sales value in the previous quarter.

Listings from other sales types including estate, receiver, and bank sales, fell 50% QoQ to three in Q2 2023 from six in the previous quarter.

Residential properties made up 45.1% (37) of the total in Q2, with 12 mortgagee listings, 24 owner listings, and one listing from estate sales. 

The sole residential estate sale listing was a two-storey freehold semi-detached house located along Happy Avenue Central. It was listed for auction on six different occasions, with the last attempt in April 2023 at an opening price of $7.5m.

This was a drop from the opening price of $7.8m in February 2023, and lower than the highest opening price of $9.88m when the property was first listed for auction in August 2022. The success rate in Q2 2023 was 4.9%, with four properties knocked down, a decline from the six properties sold in Q1, which accounted for a success rate of 8.0% then.