ET&Co sees sales of auction properties hit nearly $20m in July 2019
  • Spaces
  • 07 August 2019

ET&Co sees sales of auction properties hit nearly $20m in July 2019

The month of July saw sales of auction properties hitting nearly $20m, with four of these properties – condominium units at Cairnhill Plaza, Finland Gardens and Leville Suites, as well as a three-storey corner terrace at Penaga Place – were sold before the auction date.

Head of auction and sales, Joy Tan, believes that the higher property prices in the residential market have led to a rise in sales under auction listings. As market prices increased in the past year across the island, buyers are now turning to auction listings, probably in hopes of snagging good deals.

She also noted that there seems to be a slight improvement in the market for July, a year after the latest cooling measures were introduced. There is a lot of pent-up demand in the market, and after a year, buyers may have finally come to terms with it. She also foresees interest from foreigners looking for investment opportunities in Singapore in view of the current political and economic situations in neighbouring countries.

Read the full EdgeProp article here: https://www.edgeprop.sg/property-news/etco-sees-sales-auction-properties-hit-nearly-20-mil-july

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