Industrial sites find favour in auction market

Singapore

FOLLOWING cooling measures for the private housing segment in July, investors seem to have turned their attention to other asset classes, going by recent action in the auction market.

In the third quarter, auctioneers in Singapore hammered down nine properties - four industrial and five residential units - worth S$10.44 million. This sum was 77.1 per cent lower than in the corresponding quarter last year and also 47.4 per cent lower than in the preceding quarter.