Mortgagee sale listings in Singapore surge 67.5% to 67 in Q4

And owner sale listings increased 36.6% to 56.

During the quarter, the mortgagee sale listings increased 67.5% q-o-q to 67, and owner sale listings rose 36.6% q-o-q to 56 in Q4, according to data from Knight Frank. At the same time, there were four listings of other types in Q4, consisting of three trustee and one sheriff sale.

In total, the number of auction listings in Singapore surged 47.7% q-o-q to 127 (including repeat listings and excluding properties sold outside of auction) in Q4 2024.

Here’s more from Knight Frank:

During the quarter, residential mortgagee listings increased from 19 to 25, comprising 20 non-landed homes and five landed residences, up from the previous quarter when only non-landed homes were listed.

There were 16 commercial mortgagee listings in Q4, all comprising retail shops with no office units. This was five more than the nine retail shops listed in Q3.

There were 26 industrial mortgagee listings in Q4, more than double the 12 in the previous quarter.

Unlike the past three quarters when at least one property listed as a mortgagee sale was knocked down, no mortgagee listings were sold at auction in Q4 as most creditors held prices at market levels for distressed properties.

Owner sales

There were 20 residential owner listings in Q4 2024, similar to the 24 in the previous quarter. The 20 listings comprised 17 non-landed residences and three landed homes.

There were 20 retail and six office owner listings in Q4 2024, 15 more retail and four more office owner listings recorded in Q3 2024.  Many of these were ancillary retail units on the first storey of either a commercial or residential development, and the increase in retail owner listings could reflect the continued struggles that retail businesses have with cost pressures.

A number of retail and F&B outlets have not been able to maintain sustainable margins in the current challenging environment, and this has disrupted rental income streams. As such, some owners of these retail spaces are now exploring the disposal of underperforming assets, especially those in locations with poor pedestrian traffic.

There were also four industrial owner listings between October and December 2024, lower than the eight between July and September 2024. The four listings comprised two freehold industrial units and two 60-year leasehold factories. The two freehold strata-industrial units were placed on auction by owners were units at Golden Wheel Building and the other at 178 Paya Lebar.

These units represent an opportunity for buyers to purchase either for own-use or for investment, or a combination of both through partitioning the property, given that freehold industrial assets remain highly sought after in a sector that is predominantly leasehold.