Chart of the Day: 15 mortgagee residential properties sold in Q3

Sales value rose 166.8% to $31.9m amidst improving sentiments.

This chart from Knight Frank shows 15 residential units were transacted in Q3 2017, translating to a one-year high of $31.9m of sales, a 166.8% increase YoY from 2016.

Despite improving market sentiments, the overall mortgagee sales have reached record highs in the quarter.

Meanwhile, there were two successful shophouse transactions, representing a 31.9% QoQ increase in sales value to $6.9m.

Only one industrial unit went under the hammer for the third quarter, which is significantly lower than the 10-year moving average of three units. This represents a 2% success rate.

Knight Frank Singapore director and head of auction Sharon Lee said, "As the overall business outlook improves, interest to acquire or sell properties is envisaged to pick up. Some sellers could be more realistic in their price expectations and create purchasing opportunities. The auctions market serves as a good platform for buyers to source for properties such as factories, whether for investment or own use."

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