Property auction sales in Singapore increased to $87 million in the first half of 2010.
Property consultancy firm Jones Lang LaSalle’s Auction House has announced that over 80 percent of the total listings were put up for sale by owners.
According to JLL, the surge in the number of properties being offered in a public auction is attributed to a change in mindset, with many people now seeing it as an effective mode of sale.
The number of auction attendees also rose on-quarter, with last month’s auction attendance rates reaching over 120 punters.
JLL said it expects to see a maintained level of owner-sale listings in the third quarter, as many people return from holidays.