Knight Frank Singapore’s latest report reveals a significant rise in auction listings for Q1 2025, with a 51.1% increase from the same period last year. The report, led by Sharon Lee, Head of Auction & Sales, highlights the potential impact of global tariffs and a looming trade war on the property market.
The number of auction listings rose to 136, marking a 7.1% quarter-on-quarter increase. This surge was unexpected given the typical slowdown during Chinese New Year. Mortgagee sales dominated the listings, with 83 compared to 43 owner sales. Residential properties accounted for 45.6% of the listings, whilst industrial properties made up 23.5%.
The success rate for auctions improved to 5.1%, with seven properties sold, generating a total gross sale value of $8.7 million (S$11.9 million). Notably, a two-bedder flat in D’Ecosia fetched a 14.7% premium over its opening price.
The report attributes the rise in mortgagee sales to the delayed effects of high interest rates from 2023 and 2024. Residential mortgagee listings increased from 25 to 37, whilst commercial and industrial mortgagee listings remained steady.
Looking ahead, Knight Frank anticipates continued growth in mortgagee sales throughout 2025, driven by financial stress from prolonged high interest rates and potential global economic disruptions. Despite current buyer interest, the market may face challenges as uncertainties persist. Knight Frank maintains an auction success rate projection of around 5% for the year.
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