District 9 continued to account for the majority of the non-landed listings in the quarter.
This chart from Knight Frank shows that residential properties accounted for 88 of the 176 mortgagee sale listings in Q1, which represents a 10% QoQ increase. Out of these listings, 63 were for non-landed properties, six more than in the previous quarter.
District 9, which had the most non-landed listings since Q4 2018, continued to account for the majority with nine non-landed listings in Q1 at an average opening price of $1,993 per square foot (psf). There were 25 landed residential mortgagee sales listings in Q1, up from 23 last quarter.
Industrial listings under mortgagee sales came second as it surged 47.4% QoQ to 56 listings in Q1, up from 38 listings in Q4. Only two industrial units had freehold tenures this quarter, which are in Gemini @ Sims, with floor areas of below 5,000 square feet (sqft).
The report added that the majority of the leasehold listings had 60-year tenures, and together accounted for an average opening price of $332 psf.
Meanwhile, the number of retail mortgagee sale listings remained at 26, the same as in Q4 2019. With retail sales declining for the 13th consecutive month in February 2020, about 81% of the listings in Q1 were under 500 sqft with opening prices below $1.35m.
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