Property auction sales almost double in Q1 to $34.3m

Singapore

TEN properties have been sold year-to-date, for S$34.3 million, in Singapore's property auction market. This is double the S$13.7 million done in the fourth quarter of last year, and almost twice the S$17.9 million in Q1 2014.

In an update to JLL's figures released earlier this month, Colliers said that of the 10 properties sold this quarter, only one was an owner sale: a row of five adjoining shophouses that sold for S$14.6 million.

The remaining nine properties put up by mortgagees (or lenders) …