More owners scrambled to dispose properties amidst cooling measures in 3Q

Number of properties put up for auction soared 134%.

According to Knight Frank, more sellers are motivated to dispose their residential properties at reasonable prices in view of decreasing demand amid the cooling measures.

Sharon Lee, director & head for Auctions at Knight Frank, said sale enquiries are sustained for non-residential developments specifically for the Shop & Shophouses segment. Moving forward, more sellers could tap on the wider exposure offered by the Auction mode of sale in view of uncertain market conditions.

Knight Frank noted that the total number of properties put up for auction in 3Q 2013 continues to hold above 100 at 117, with 134% increase on a year-on-year basis.