Property auction sales off to a great start this year

Sales value of $15.2m was recorded in Q1.

The year started off well for the auction houses, according to real estate services firm JLL.

According to JLL's latest data, there was a recorded sales value of $15.23m, a 36.8% increase from last year's $9.62m.

Five of the eight properties auctioned were sold when they made their debut. These units were 37A Jalan Daud, 12 Jalan Dinding, NOMU #09-01, Enterprise One #02-45, and Woodlands East Industrial #04-24.

“It has been a good start in the auction scene and we are seeing more buyers willing to commit to a purchase. Some units such as Seascape at Sentosa Cove #07-01, Kovan Residences #18-06, and 1D Jalan Singa were also taken up quite quickly after being presented at their first auction in January 2017," said JLL Singapore head of auctions Mok Sze Sze.