A total of 26 residential and commercial units have been submitted for an upcoming public auction organised by Knight Frank, which will take place next Tuesday afternoon (31 March) at Amara Hotel.
Although the asking prices were not revealed, most of the units are being put up for sale by the owners compared with only three mortgagee sales.
One of the homes put up for mortgagee sale is a 3+1 bedroom apartment at Orchard Scotts measuring 1,873 sq ft. With less than 86 years on the lease, the 387-unit condominium is located near Newton MRT station, the Orchard Road shopping belt and numerous schools.
According to a Colliers International report, in 2014 residential properties made up more than half of the properties sold at auctions, most of which were apartments or condominiums including units at Draycott 8, Orchard Scotts, and Ocean Park which were sold at $5 million, $3.3 million and $2.34 million respectively.
The consultancy added that out of the 529 properties put up for auction sales last year, only 32 were sold at a total value of $72.5 million.
For the full list of properties available at next week’s auction, go to: http://bit.ly/1CQdjcr
The next Knight Frank auction will be held on 28 April 2015.
Romesh Navaratnarajah, Singapore Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
