Singapore auction success rate to hit 5% this year

This is similar to the average success rate over the past decade.

According to the Ministry of Law, there were 4,521 bankruptcy applications made between January and November 2024 in Singapore, already higher than the 3,986 applications made in the whole of 2023. 

Knight Frank said the higher rate of bankruptcy applications in 2024 could translate to more mortgagee sale listings in 2025, given the time lag before financial stress leads to distressed assets for sale in the auction market.

Here’s more from Knight Frank:

Both banks as well as lending institutions are likely to contribute mortgagee sale listings in 2025, resulting in a greater variety and quantity of properties that will surface in the auction market. However, buyers should keep their price expectations realistic in order to take advantage of the opportunities that arise.

Owner sale listings have exceeded mortgagee listings in the auction market in the last four years from 2021 and will likely continue to dominate the overall listings in 2025. Although properties listed by owners knocked down at auction are typically few and far between, many are expected to be transacted outside of auction.

The average annual auction success rate was 5.1% in the ten years from 2015 to 2024, and Knight Frank envisages a similar success rate in 2025 of about 5%.