Rounding up Q3 2022, the total number of properties successfully sold in auction rose from 6 in Q3 2021 to 9 in Q3 2022. The total value of successful auction sales for YTD 2022 stands at $70.187 million, a marginal drop of about 0.08 per cent from the first 9 months of 2021 value at $70.243 million.
Total number of properties sold YTD 2022 is 31 versus 26 (19.23%▲) last year.
Residential properties remained the bulk of transactions, which stood at 64.5 per cent of the total value sold. The highest quantum sold YTD was for an intermediate townhouse at 8 Nassim Hill, transacted at $9.79-million.
Figure 1: Proportion of Total Number of Sales During Auction by Sector for YTD 2022
A total of 9 properties were sold at auction for the third quarter this year, amounting to a total gross sales value of S$18.91-million. Details of properties are as follows:
Both Q2 of this year and last year still hold pole positions for the most number of properties sold and the highest total value sold at auction for their respective year.
In the last quarter, SRI knocked down three properties amounting to S$7.63-million.
SRI’s most recent auction on 30th September also coincided with the latest cooling measures announced to increase the interest rate floor used to compute TDSR and MSR.
Summary of properties sold at Auction in Q3 2022 (July to September)
Mok Sze Sze, Managing Partner of SRI Auction, commented: “Of the nine properties sold at auction in Q3 this year, eight of which were sold when they made their debut during their respective first auction. It was the very first time we held our auction on the same day as any cooling measures over the years and despite such a sudden implementation of measures, we witnessed strong bidding participation for two properties at 685 Hougang Street 61 and 50 Pasir Ris Avenue.”
“Eventually after almost 50 cumulative bids for both properties, 685 Hougang Street 61 was sold at $3.43-million while 50 Pasir Ris Avenue was done at $3.6-million”, added Sze Sze.
SRI’s next auction is scheduled for 27th October.
For more details, please visit https://www.auction.sri.sg/
