By Andrew Batt:
There was little interest from buyers during the first Jones Lang LaSalle (JLL) property auction yesterday, although three offers were made for sellers’ consideration immediately after the event.
Despite a healthy turnout of potential buyers, none of the eight properties to come under the hammer – a mix of landed properties, condominiums, industrial and commercial units – attracted bids during the auction itself.
Mok Sze Sze (pictured), Head of Auctions, JLL, told PropertyGuru: “Although buyers did not participate in bidding during the auction, a few buyers presented their offers on three of the landed properties on our auction list for the sellers’ consideration. This indicates that there is still genuine interest in the properties, but parties are adopting a wait-and-see attitude during the auction.”
The cheapest property to be offered was a 474 sg ft one-bedroom condo at The Scala, Serangoon Avenue 3, with an estimated completion date of next year. It failed to attract interest at S$750,000.
The highest asking price was S$5 million for a single-storey corner terrace house in Kampong Java.
The next JLL property auction will take place at Amara Hotel on February 28.
Andrew Batt, International Group Editor of PropertyGuru, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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