Owner listings grew 26.7% in Q2

Only 57 listings were recorded in Q2 2023.

A study by a property research firm showed that a higher proportion of owner listings to mortgagee listings since 2021 suggests that the auction platform has grown popular amongst owners.

Knight Frank said the auction platform’s public reach was useful in bringing buyers and sellers into a deal, especially for properties on auction lists for several months. 

During the quarter, two-adjoning shops in The Midtown were recorded for auction on seven different occasions before eventually catching the attention of a buyer in April 2023 who purchased outside of auction. 

Another property that transacted before auction was a 99-year leasehold semi-detached home located along Casuarina Walk. These examples, together with other properties sold before or after an auction, emphasised that the growing popularity of the auction platform amongst owners.

There were 24 residential owner listings in Q2 2023, higher than the 11 in the previous quarter, and the 21 in the same period in 2022. 

There was a combined total of 26 commercial owner listings (21 retail and five office owner listings), marginally an increase from the 24 in Q1 2023 and 25 in Q2 2022. The rising number of retail owner listings suggest that the elevated interest rates that hit the affordability of business loans and increased operational cost has made the cost of running a business in Singapore much more expensive.