Ghost Month auction values hit 3-year high
The successful auction of four properties saw property auction sale
values during the Hungry Ghost Month period rebound to hit a three-year
high of $10.35 million this year.
This was largely attributed to the forced sale of a high-end
condominium apartment at The Boulevard Residences (BLVD) at Cuscaden
Walk, which was knocked down at $5.7 million.
This represents 55 per cent of the total sales value achieved during
the Hungry Ghost Month, which falls between Aug 17 and Sept 15 this
year. It is also the first high-value residential property that has
transacted above $5 million at auction since early 2011.
The other three properties sold included a single-storey terrace house at Thomson Road ($2.33 million), an apartment in Lake View
Estate at Upper Thomson Road ($1.3 million), and an industrial flatted
factory at Northlink Building at Admiralty Street ($1.02 million).
A total of 39 properties were put up for auction sale, of which three
were mortgagee sales. The remaining 36 properties were put up by
property owners.
The property auction market in Singapore has knocked down 17 properties
for a total sale value of $50.6 million to date this year.
Source: Business Times – 14 September 2012
No comments:
Post a Comment
Note: only a member of this blog may post a comment.