Singapore property auction market records S$27.6m of sales in Q3

THE Singapore property auction market saw S$27.6 million of deals in the third quarter of the year, more than double the S$10 million seen in the second quarter though slightly below the S$31.7 million seen a year ago.

Property consultant JLL said in a press release that there were 10 sales closed in the third quarter, up from five in the previous quarter, and on par with 10 deals done a year ago.

Seven out of the 10 sales in the third quarter were residential properties worth S$13.6 million.

Among them was a JLL sale of a four-bedroom apartment at The Imperial on 5 Jalan Rumbia for S$3.44 million, 11 per cent above the opening price of S$3.1 million.