Shops and shophouses overtake residential units in auctions

Singapore

SHOPS and shophouses overtook residential properties in total sales value in auctions in the first quarter of this year, a report by Knight Frank released on Wednesday shows.

Some S$5.5 million worth of shops and shophouses were sold in auctions in Q1, more than double the residential sector's S$2.5 million.

This marked the first time since the second quarter of 2014 that the residential sector was not the top pick in the auction market though it still dominates the number of listings.

Knight Frank observed that the shift in buyers' pre…