http://www.businesstimes.com.sg/real...mmer-in-q2-jll

More properties go under the hammer in Q2: JLL

Jun 29, 2016


THE total sales value of properties that went under the hammer surged to S$13.76 million in the second quarter of this year, a 102.4 per cent jump from a year ago. This also marked a major acceleration from the dip in the first quarter when only S$5.88 million worth of properties were sold, data from JLL shows.

There are still auctions to be held in this final week of June.

Mortgagee sales made up 66.7 per cent of the units sold in the second quarter, but just about 43 per cent (59 out of 139 listings) of the listings this quarter.

Though the first quarter saw an unusual case of industrial and commercial units transactions overtaking residential deals, the situation reversed in the second quarter with residential units once again dominating the auction floor. There was only one non-residential property sold in auction in the second quarter.

JLL head of auctions Mok Sze Sze said: "Sale of residential properties once again led the auction scene in Q2 2016, following a surprisingly muted response last quarter.

"In the second half of the year, we expect to see more mortgagee sales coming on stream, including non-residential properties, as businesses feel the pressure of an uncertain global economic outlook."

Bumping up the second-quarter auction sales were three big-ticket transactions at Silversea, One Amber and Turquoise, which were sold for S$3.9 million, S$3.7 million and S$2.92 million respectively.

The Medallion, a strata-titled bungalow off Braddell Road, was sold via private treaty a day after being put up at JLL's May auction.

There was a lack of transactions above the S$2 million mark in the first quarter, resulting in the weak total sales value though the number of units sold was the same as that of the second quarter.

JLL noted that buyers are still on the lookout for good deals in the residential sector, with prices of S$1 million to S$1.5 million being the usual "sweet spot".

In the last two years, mortgagee sales accounted for more than 65 per cent of total transaction numbers.