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Auction market rebounds this quarter

Year to date total of S$57.6m is shy of the S$87.7m done in same time last year

Kalpana Rashiwala

Published Thu, Sep 25, 2014 · 04:00 PM

[SINGAPORE] Of the 44 properties sold at auction last year and so far this year, 80 per cent were successfully hammered upon their first appearance, property consulting group JLL said on Thursday.

These include the two largest auction transactions so far this year: four strata office units at Orchard Shopping Centre that fetched S$8.55 million in March, and a freehold residential development site in Brighton Crescent that sold for S$9.1 million on Wednesday at an auction conducted by Colliers International.

In March this year, too, a condo unit at Draycott 8 - in a prestigious residential locale - changed hands for S$5 million at its first auction.

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