Singapore auction listings rise by 16.9% to 90 in Q1

Thanks to a healthy number of owner sale listings.

According to a Knight Frank report, auction listings in Singapore fell 9.1% q-o-q to 90 listings (including repeat listings and excluding properties sold outside of auction) in Q1 2024, affected by the Chinese New Year festivities which resulted in the postponement of some auction activities and properties being put up in the listings. 

Nevertheless, total auction listings climbed 16.9% y-o-y from the 77 in Q1 2023, with the bulk of the increase contributed by owner sale listings, signalling that auctions continued to be a trending choice among owners.

Here’s more from Knight Frank:

In the quarter, residential properties made up 47.8% (43) of the total listings in Q1 2024, lower than the 50 residential properties in the previous quarter. Office and industrial properties comprised 8.9% (8) and 20.0% (18) of the total listings respectively in Q1 2024, down from the corresponding 10 and 20 in Q4 2023. Meanwhile, retail properties made up 21.1% (19) of the overall listings, increasing slightly from the 18 three months ago.

Five properties comprising two residential and three industrial properties were sold in Q1 2024, contributing to the success rate of 5.6%. This was higher than the 4.0% success rate recorded in the previous quarter when four properties (out of 99 total auction listings) were sold. Of the five properties sold, four were freehold properties suggesting buyers’ strong preference for a longer runway whether for investment or for self-use. Overall, the sale of the five properties translated to S$13.2 million in gross sales value.

Typically, most properties in auction listings are sold either before or after auction, with various aspects of the sale being negotiated offline, as this can facilitate greater flexibility.