31 Oct '16, 5am

Yes, auctions are up, but that's not necessarily a bad thing for the market.

Yes, auctions are up, but that's not necessarily a bad thing for the market.

View of the vacant land plots within Swiss Club Estate, which were sold through an auction for $15.22 million. (Photo: JLL Singapore) Property auction sales in Singapore gained momentum during the last quarter of 2016, with transaction volume reaching $44.02 million even before the end of October, revealed a JLL report. This surpasses the $9.62 million in sales during Q1, $14.81 million in Q2 and $20.53 million in Q3. In fact, it is almost on par with the combined figure of $44.96 million for the previous quarters. “We are off to a good start for the last quarter of the year, with October sales value making up almost half the total sales value of $88.9 million year-to-date,” said Mok Sze Sze, Head of Auctions at JLL Singapore. The high transaction volume for the three-month period was boosted by the sale of three vacant plots of land within the prime Swiss Club estate for ...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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