Auction listings up by 7.1% q-o-q in 1Q2025, mortgagee sale listings likely to continue growing: Knight Frank
The Singapore property auction industry found a sum total of 136 auction listings (including repeat listings and excluding properties sold outside of public auction) in 1Q2025, up 7.1% q-o-q contrasted to the previous quarter, based upon data assembled by Knight Frank Singapore.
Overall, Knight Frank is predicting a results rate of about 5% for the whole of 2025, in line with the typical yearly auction growth price of 5.1% extending the last ten years.
Mortgagee sales accounted for 83 listings in 1Q2025, up 23.9% q-oq from 67 listings in the last quarter. Knight Frank connects the quarterly rise to the postponed influence of high rate of interest all throughout 2023 and 2024, that caused an increase in distressed assets to enter the public auction market.
Whilst initial buyer interest was monitored in 1Q2025, Knight Frank expects buyers to re-adopt “a mindful wait-and-see position” amidst the expanding uncertainty. That said, with further rate of interest cuts prepared for, the company notes that there could be a restored interest from property investors seeking to capitalise on the increase in mortgagee sale listings.
Owner sale listings appeared at 43, dropping 23.2% q-o-q from 56 listings recorded in 4Q2024. The standing ten auction listings were for other kinds of sales– five non commercial units listed as sheriff sales, three liquidator sales of factories, a financial institution sale of an industrial unit, and an estate sale of a non-landed house.
Looking ahead, Knight Frank anticipates the uptick in mortgagee sale listings to continue throughout the year, as more troubled possessions happen due to the long term high rate of interest in 2023 and 2024. In addition, the prevalent tariffs announced by the Trump management can result in a dampening impact on the real estate industry.
Another property, a two-bedder house in D’Ecosia, was torn down at $1.7 million– a 14.7% premium to its initial rate of $1.5 million. At the same time, a manufacturing facility unit at In-Space and a one-bedder at Le Wood were yielded $1.9 million and $ 1 million each, translating to price cuts of 3.8% and 2.9% from their starting prices.
“While there was no substantial surge in home listings in 1Q2025, this may be the calmness before the storm of sweeping global tariffs and an impending trade war hits,” says Sharon Lee, head of public auction and sales at Knight Frank Singapore.
The auction sector additionally found a greater growth rate in 1Q2025. Seven lists were knocked down last quarter, showing a success price of 5.1%. This is considerably higher than the 1.6% success rate reported in 4Q2024. The seven listings comprise five mortgagee sales and two proprietor sales.
Knight Frank associates the higher success price to even more customer interest, as US interest rate cuts since September 2024 have motivated buyers to keep an eye out for opportunities. The properties efficiently auctioned in 1Q2025 had a complete gross sale worth of $11.9 million.
In terms of real property kind, non commercial properties composed 45.6% (62) of total listings, up from the 46 non commercial listings in the previous quarter. Industrial properties made up 38 (28%) listings, making up 36 retail units and two office units, compared to 36 retail units and 6 offices listed in 4Q2024. Industrial real estates composed 23.5% (32) of the total listings, up by one listing contrasted to the last quarter. There were also 2 shophouse listings in 1Q2025, compared to five in the past quarter.
Four of the real estates were sold at their respective opening prices: A three-bedroom residence at Scotts Square brought $4.1 million; a HDB shophouse in Serangoon was sold for $1.9 million; a retail store at The Commerze @ Irving obtained $637,000; and a factory unit at T99 altered controls for $635,000.
According to the agency, the rise was “unanticipated”, as it coincided with Chinese New Year celebrations that normally cause a time-out in sell-off activity.
