By Tejaswi Chunduri:
DTZ’s monthly property auctions for May proved quiet, with nine properties on offer but just one unit sold – a 1,410 sq ft apartment at Botanic Gardens View (pictured).
In total, one landed, four non-landed and four commercial (comprising a shop space and three warehouse units) were offered at the auction.
Shaun Poh, Senior Director for International Advisory Services & Auction at DTZ, who spoke to PropertyGuru, said: “We had a very good crowd for the auction. Many came for educational reasons and to check the prices as these are not listed anywhere.”
The opening bid for the Botanic Gardens View unit was S$2.18 million. It was subsequently sold for S$2.32 million, reflecting a price psf of S$1,645.
Poh said that this is considered “a good price compared to the other units in the vicinity which are going at around S$2.5 million”.
Meanwhile, the consultancy expects sales to pick up over the coming weeks.
“No commercial property was sold as these are old developments. Usually F&B space is in demand,” noted Poh.
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