26 Dec '14, 1pm

Pace of property sales at auctions quickens in fourth quarter: JLL. Catch the full story here:

THE pace at which properties are sold under the hammer has quickened in the fourth quarter, according to a new analysis on auction sales. More properties are sold at their first listing in auctions this year, as a narrowing expectation gap on prices between sellers and buyers spurred quicker sales, JLL says. The property consultancy said the proportion of properties (by sales value) sold during their first auction listing has increased in the past three quarters to 90 per cent in the fourth quarter, up from 80 per cent in the third quarter and 54 per cent in the second quarter. JLL reckons that the faster pace of sales this year is due to both buyers and sellers making compromises and converging in their price expectations. "Sellers are now more willing to lower price expectations in light of the weaker market conditions, whereas from the buyers' perspective, the anticipat...

Full article: http://www.stproperty.sg/articles-property/singapore-prop...

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