2021-10-07-莱坊-Singapore_Auction_Market_Update_Q3_2021_2页_272kb

报告摘要

Singapore Auction Market Summary - Q3 2021

Core Content Overview

The Singapore auction market experienced a decline in Q3 2021 due to repeated restrictions aimed at curbing the spread of COVID-19. This report provides an analysis of auction listing volumes, success rates, and property types, along with insights into the market outlook for the coming months.

Key Statistics

Total Auction Listings: 150 in Q3 2021, a 26.5% decrease from Q2 2021 (204 listings).
Gross Sales Value: S$20.3 million in Q3 2021, a 45.2% drop from Q2 2021 (S$36.9 million).
Success Rate: Dropped to 4.7% in Q3 2021 from 6.4% in Q2 2021.
Number of Properties Sold: 7 in Q3 2021, down from 13 in Q2 2021.

Auction Sale Listings and Success Rates

Listing Volume: The number of auction listings declined throughout Q3, with 65 in July, 43 in August, and 42 in September.
Owner Sales: Accounted for 66.7% of total listings, significantly higher than mortgagee sales at 28.0%.
Mortgagee Sales: Listings dropped to 42 from 87 in Q2 2021, indicating a shift in market dynamics.
Residential Properties: Made up 50.0% of mortgagee sale listings, with almost all being non-landed properties. Landed properties saw fewer sales due to increased owner-initiated listings.
Industrial Properties: 13 listings in Q3 2021, with 12 sold below S$2.0 million and one at S$3.5 million.
Retail Properties: Listings fell to 7 from 27 in Q2 2021, with opening prices averaging S$1.0 million, a sharp decline from S$2.8 million in Q2.

Market Trends

Auction Success: A 2-bedroom condominium at Vida (5 Peck Hay Road) sold for S$1.76 million, a 28.0% premium over the opening price.
Owner-Initiated Sales: Despite the drop in listings, owner sales remained relatively stable, with 100 listings in Q3 compared to 104 in Q2. This suggests that owners were more willing to use auctions to sell their properties.
Shophouse Market: Some owners in the booming shophouse market used auctions to secure good prices, with two fully tenanted shophouses sold for S$7.6 million.
Retail Owner Sales: Increased to 31 from 28 in Q2, with owners generally maintaining their original opening prices.

Market Outlook

Impact of Restrictions: The constant changes in COVID-19 restrictions and high community infections significantly reduced auction activity in Q3 2021, more than in the first half of the year.
Future Activity: Auction listings in the next two months are expected to remain tepid, but activity is anticipated to increase towards the end of the year or early 2022 if the healthcare system adapts to the new normal and the pandemic situation stabilizes.

Contact Information

Sharon Lee - Head of Auction & Sales
Email: Sharon.lee@sg.knightfrank.com
Phone: +65 6228 6891
Leonard Tay - Head of Research
Email: leonard.tay@sg.knightfrank.com
Phone: +65 6228 6854
Khoo Zi Ting - Research Analyst
Email: ziting.khoo@sg.knightfrank.com
Phone: +65 6228 7377