Auction sale volume fell 20.8% in 2013

Buying sentiments dampened by global uncertainties.

According to Colliers International, the Singapore property auction market concluded the year with a total of 19 properties sold, out of 488 properties that were put up by all auction houses. The total sale value, which exceeded the S$62.44 million garnered in 2012 by some 46.7 percent.

The increase in sale value this year was achieved despite a 20.8 per cent decline in auction sale volume – from 24 properties sold in 2012 to 19 sold in 2013.

The higher total sale value this year was mainly driven by the successful sale of four high-value properties2 that were hammered down in 1Q 2013 at a total of S$70.1 million. Collectively, they constituted to a whopping 76.5 per cent of the total sale value in 2013.

Nonetheless, the year saw property auction activity fizzling out after the first quarter – with sale value declining from S$76.08 million in 1Q 2013 to only S$3.9 million in 4Q 2013.