Friday, June 29, 2012

Value of properties sold at auction rises 15.9% in Q2


Business Times: Thu, Jun 28
[SINGAPORE] The value of properties sold at auction rose 15.9 per cent quarter on quarter to $18.4 million in the second quarter, taking the figure for the first half to $34.3 million.

The year could end with another $30-odd million of properties sold on the auction block, resulting in a full-year total of about $70 million, predicts Colliers International. This would be down from $95.6 million done last year.

The first-half 2012 showing was up 30.1 per cent from the $26.4 million in second-half last year but down 50.5 per cent from the $69.3 million in H1 last year.

The H1 2012 tally is also the second lowest half-year figure since the global financial year of 2008.

Separately, Jones Lang LaSalle (JLL) released figures showing it closed $25 million of auction sales in the first half, giving it a market share of about 75 per cent.

It also noted that offices, shops, shophouses and industrial properties have accounted for 78 per cent of the total value of auction sales in the market in H1 2012, up from 70 per cent in H1 2011 and 32 per cent in H1 2010.

Conversely, the share of residential properties has fallen from about 61 per cent in H1 2010 to 28 per cent in H1 2011 and to 22 per cent in H1 2012...
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