Higher success rate for property auctions in Q1 as investors chase yields: Knight Frank

THE first quarter of this year saw seven properties sold under the hammer at a gross sales value of S$13 million, out of a total 201 auction listings in Singapore.

This success rate of 3.5 per cent, based on auction listings, surpassed pre-Covid levels in 2019, when quarterly success rates had hovered between 1 per cent and 3 per cent, Knight Frank Singapore noted in a research report published on Monday.

The improved success rate came as auction properties "continued to garner interest among opportunistic retail investors looking for viable yields in a low interest-rate climate", the real estate consultancy said.