Chart of the Day: Property auction market sales hit S$76.08m

It beat 2012's total value by 21.8%.

According to Colliers, the Singapore property auction market witnessed a strong start to 2013, garnering a total sale value of S$76.08 million in 1Q 2013. This is despite the lull in the secondary market – a result of the recent series of government cooling measures implemented in the residential sector.

The sale value signifies a heartening turnaround from last year, which exceeds the S$62.44 million chalked up in the entire year of 2012 by 21.8 per cent.

"The improved performance in 1Q 2013 was due to the sale of four high-value properties, which generated a total sale value of S$70.1 million. This contributed to a whopping 92.1 per cent of the total sale value in 1Q 2013," Colliers said.