Home auction sales more than triple in Q4 as prime lots go under the hammer

Sales were boosted by Swiss Club estate deals.

Auction sales booked an uncharacteristically strong growth in the fourth quarter, recording a whopping sales figure of $47.2 million in just three months. According to JLL, this accounts for 51 per cent of this year’s total sales, and is more than three times 4Q15’s sales of SGD 10.83 million, and more than double the sales in 3Q16 quarter-on-quarter.

The quarter’s total auction sales value of $47.2 million was given a boost by the sale of three vacant plots of land within the prime Swiss Club estate for $15.2 million, as well as a landed property at 4 Jalan Bahasa for SGD 12.3 million via liquidator’s sale.

Apart from these deals, several other large quantum residential units were also sold via auction this quarter – including non-landed units at Seascape and Orchard Scotts, respectively, as well as a landed unit at Daffodil Drive, sold by estate sale.

JLL noted that with just two weeks left to the end of the year, auction sales has seen a total value of $92.2 million hammered year-to-date.

This figure, however, is still almost 10% shy of 2015’s total sales value of SGD 102.3 million. Although there were more properties sold by auction in 2016, 2015 saw more transactions of a larger quantum, with 10 transactions valued at SGD 3 million or higher, compared to seven such transactions in 2016.