Singapore auction listings up 11% to 131 in Q3

Retail and shophouse listings were the primary growth contributors this quarter.

According to a Knight Frank report, auction listings in Singapore increased by 11.0% q-o-q to 131 listings (including repeat listings and excluding properties sold outside of auction) in Q3 2022. 

While mortgagee sale listings declined 44.0% q-o-q to 28 in the quarter, owner sale listings recorded a 46.8% q-o-q jump to 91 from the 62 listings in Q2 2022, and 7.1% increase y-o-y from the 85 listings in Q3 2021, the report added.

Here’s more from Knight Frank:

An increase in retail and shophouse listings contributed largely to the overall growth in listings in Q3 2022, with retail listings increasing 45.8% q-o-q to 35 listings. Also, shophouse listings soared some 600.0% q-o-q to seven in the same period from the sole listing in Q2 2022. 

Success rates remained positive at 6.9% in Q3 2022 as a total of nine properties were knocked down representing a gross sales value of S$18.9 million. In comparison to Q2 2022, transactions via an auction sale declined from 12 to nine. Nevertheless, eight out of the nine were new listings, showing the overall efficacy of a property sale through the auction process.