Auction listings up by 7.1% q-o-q in 1Q2025, mortgagee sale listings likely to continue growing: Knight Frank
The Singapore property auction market viewed a total amount of 136 public auction listings (including repeat listings and leaving out properties marketed outside of public auction) in 1Q2025, up 7.1% q-o-q compared to the previous quarter, based on data assembled by Knight Frank Singapore.
According to the firm, the boost was “unexpected”, as it matched with Chinese New Year events that normally cause a time-out in sell-off activity.
Knight Frank associates the higher success price to even more purchaser interest, as US interest rate cuts since September 2024 have motivated buyers to look out for chances. The properties efficiently auctioned in 1Q2025 had a total gross sale value of $11.9 million.
Mortgagee sales accounted for 83 listings in 1Q2025, up 23.9% q-oq from 67 listings in the previous quarter. Knight Frank connects the quarterly rise to the postponed effect of high interest rates all over 2023 and 2024, which caused a boost in troubled assets to enter the public auction market.
Looking ahead, Knight Frank expects the uptick in mortgagee sale listings to proceed throughout the year, as more distressed assets materialise due to the prolonged high interest rates in 2023 and 2024. Additionally, the widespread tariffs announced by the Trump administration can cause a dampening influence on the property market.
Four of the properties were sold at their respective opening prices: A three-bedroom residence at Scotts Square brought $4.1 million; a HDB shophouse in Serangoon was cost $1.9 million; a market outlet at The Commerze @ Irving brought $637,000; and a manufacturing facility unit at T99 changed controls for $635,000.
The sell-off sector also saw a greater success rate in 1Q2025. Seven listings were smacked down last quarter, showing a success rate of 5.1%. This is considerably higher than the 1.6% success rate reported in 4Q2024. The seven postings make up 5 mortgagee sales and 2 owner sales.
“While there was no considerable surge in home listings in 1Q2025, this might be the peace before the storm of sweeping international tolls and a looming trade battle strikes,” claims Sharon Lee, head of public auction and sales at Knight Frank Singapore.
Owner sale listings clocked in at 43, dropping 23.2% q-o-q from 56 listings recorded in 4Q2024. The standing ten auction listings were for other sorts of sales– five residential units itemized as sheriff sales, three liquidator sales of factories, a bank sale of a commercial unit, and an estate sale of a non-landed residence.
One more property, a two-bedder house in D’Ecosia, was knocked down at $1.7 million– a 14.7% premium to its opening price of $1.5 million. On the other hand, a manufacturing facility unit at In-Space and a one-bedder at Le Wood were yielded $1.9 million and $ 1 million respectively, translating to discounts of 3.8% and 2.9% from their opening rates.
Generally, Knight Frank is anticipating a success price of about 5% for the whole of 2025, in accordance with the typical yearly auction growth price of 5.1% extending the last one decade.
In terms of real estate type, non commercial properties comprised 45.6% (62) of total listings, up from the 46 home listings in the last quarter. Business real estates made up 38 (28%) listings, comprising 36 retail units and 2 workplace units, contrasted to 36 retail units and 6 offices listed in 4Q2024. Industrial real estates comprised 23.5% (32) of the overall listings, up by one listing contrasted to the last quarter. There were additionally two shophouse listings in 1Q2025, contrasted to 5 in the past quarter.
Whilst initial purchaser interest was monitored in 1Q2025, Knight Frank expects buyers to re-adopt “a cautious wait-and-see position” in the middle of the expanding uncertainty. That said, with further rate of interest cuts expected, the company notes that there could be a renewed interest from property financiers seeking to capitalise on the increase in mortgagee sale home listings.
