These are the successful owner sale auction listings in Singapore in Q3

A property was sold for S$3.6m, 20.8% higher than its opening price.

Among owner sale listings in Singapore, Knight Frank says most property types increased from the previous quarter as public belief in the auction process grew. 

In the post-pandemic era, private property owners are increasingly becoming aware of the practical benefits of an auction with its public reach, as owner sale listings surged 46.8% q-o-q to 91 in Q3 2022. 

Here’s more from Knight Frank:

Residential listings rose from 22 to 30, and industrial listings rose from 13 to 20 during the quarter. Also in the same period, retail listings rose from 19 to 31 while shophouse listings expanded from one to six. 

A 99-year leasehold 2-storey detached house situated along Pasir Ris Avenue was successfully auctioned at S$3.60 million, some 20.8% higher than the opening price of S$2.98 million. Additionally, a B1 ramp-up factory in Ark @ Gambas was also knocked down with a 20.8% premium, at an opening price of S$650,000 eventually selling for S$785,000. Not only is there a possibility for unexpected interest at an auction translating to higher bids, successful sales among private owners outside the auction are also common once these properties have been made public because of the process. 

Other types of sales were also successful at auction. A liquidator sale of remnant land situated along Balestier Road, and zoned for mixed commercial and residential development, garnered the interest of many bidders. Auctioned by Knight Frank Singapore, this land parcel was eventually sold at S$1.14 million, 200.0% above the opening price of S$380,000. 

Located adjacent to Giffard Mansion, which has the potential for a collective sale, the site drew heated bids from investors with an eye to combining both plots. Separately, a receiver sale of a 90-year leasehold HDB shophouse with living quarters was sold at S$3.43 million, 7.2% above the initial opening price of S$3.20 million.