Knight Frank sold 25% of properties put up for auction in October

November 9, 2020

Amongst the properties sold, a two-storey semi-detached home at 14 Lorong Kismis attracted 14 bids and was sold for $1.32 million, which is up 20% from its $1.1 million opening price.

Knight Frank sold 25% of the auctioned properties in their two live property auctions in October, revealed a release on 6 November.

Three properties were sold during the live and streamed auctions, while three more deals were concluded pre- and post-auction.

There were rapid and active bids for the auctioned properties, in particular, properties at 45 Woodsville Close and 14 Lorong Kismis, which attracted 12 bids and 14 bids respectively.

The two-storey, semi-detached home at 14 Lorong Kismis was sold for $1.32 million, which is up 20% from its $1.1 million opening price. Nestled on a 3,290 sq ft site, the property has a leasehold tenure of 99 years that started from 1972.

Recommended article: Property Auctions in Singapore: A Lesser Known Way To Snag Affordable Property

The three-storey intermediate terrace house at 45 Woodsville Close, on the other hand, opened with a $2.6 million bid and was sold for $2.77 million. The freehold house occupies a 1,795 sq ft site and has a floor area of around 3,858 sq ft.

“We’ve noticed that the pandemic has drawn out an additional set of buyers, as more look to invest and purchase locally, have more time on hand to seek out properties and take advantage of the lower interest rates being offered,” said Sharon Lee, Head of Auction and Sales at Knight Frank Singapore.

“As such, we’ve witnessed more owner sales being transacted and more realistic prices offered for such properties, as compared to pre-COVID times.”

Knight Frank shared that it will hold the next round of auctions on 13 and 27 November. Interested parties can register for the virtual event at www.knightfrank.com.sg/auction.

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