These were the successfully auctioned properties in Singapore in Q2 | Real Estate Asia
, Singapore

These were the successfully auctioned properties in Singapore in Q2

Only four industrial mortgagee listings were sold.

Out of 82 auction listings in Singapore in Q2, only four were successfully sold, and these were industrial mortgagee listings.

According to a Knight Frank report, there were 22 mortgagee listings in Q2 2023, an 8.3% q-o-q drop from the 24 in Q1 2023* and less than half the 50 in Q2 2022. 

Here’s more from Knight Frank:

This is the ninth consecutive quarter after Q1 2021 where there were less mortgagee listings to owner listings, with the exception of Q1 2022. Of these, there were 12 residential mortgagee listings in the quarter, comprising four landed homes and eight non-landed residences. 

Apart from residential mortgagee listings, there were four retail and six industrial mortgagee listings in Q2 2023, with no office listings. The retail listings were freehold properties in suburban areas. The lack of buyer interest could have been due to the increasingly tough business climate fraught with rising labour costs, inflation, and interest rates which have made retailers more cautious about business expansions.

The four successful properties auctioned in Q2 2023 comprised four industrial mortgagee listings. A freehold industrial property in Tong Lee Building transacted at S$1.89 million, some 8.7% higher than the opening bid of S$1.74 million, and a strata-industrial space at Midview City was sold at the opening price of S$850,000. The remaining two other units at Enterprise Hub were knocked down at some 11% below the respective opening prices.

 

* Revisions were made to the earlier count of listings in Q1 2023

 

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