Auction sales in Singapore grew for the first half this year, totalling about $87 million. Property consultant Jones Lang LaSalle’s Auction House reported more than 80 per cent of all listings were put up for sale by owners.
The increase in the number of properties for sale by auction is due to a change in mindset – many now see it as an effective mode of sale, the firm said.
Auction attendances have also increased on-quarter, with June seeing attendance rates of more than 120 punters.
Jones Lang LaSalle expects the third quarter to see maintained levels of owner-sale listings as people return from holiday.
Source: Today, 6 Jul 2010