A total of 148 auction listings were recorded in 1Q2026, with most of them being mortgagee sale listings (Picture: Samuel Isaac Chua/EdgeProp Singapore)
The Singapore auction market saw more listings in 1Q2026 than the previous quarter, driven primarily by mortgagee sales. A research report published by Knight Frank Singapore on April 27 recorded 148 properties listed across major real estate auction houses in the city-state last quarter. That is up 10.4% q-o-q and 8.8% higher than the same period last year.
Most of the listings — 103 — were mortgagee sales. That is a 28.8% surge compared with the 80 mortgagee sale listings recorded in 4Q2025. On the other hand, there were 30 owner-sale listings, just shy of the 32 recorded in 4Q2025. Other sale types, such as estate and trustee sales, made up the remaining 15 auction listings in 1Q2026.
In terms of property type, residential properties made up the bulk of activity, with 66 homes listed for auction in 1Q2026, representing 44.6% of the total. There were 42 industrial property listings (28.4%), followed by 31 listings for retail units (20.9%). The rest of the listings were primarily for office units and shophouses.
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Source: Knight Frank Auctions and Knight Frank Research
Knight Frank’s report says that five properties were successfully auctioned — or knocked down — in 1Q2026, resulting in a success rate of 3.4%. This is marginally higher than the four units knocked down in 4Q2025, or a 3% success rate. The properties that were sold in 1Q2026 — comprising residential and industrial units — fetched a gross sales value of $10.3 million.
Three of the properties sold were mortgagee sales, consisting of two industrial premises and a freehold terraced house along Lorong 22 Geylang. The sale of the house was the largest deal that went under the hammer last quarter, fetching $3.5 million, or $2,112 psf, on its land area of 1,657 sq ft.
The sale of a freehold terraced house along Lorong 22 Geylang for $3.5 million was the largest auction deal in 1Q2026 (Picture: SRI)
Overall, the mortgagee listings of 1Q2026 were led by residential (45) and industrial (37) properties. Retail units made up 17 mortgagee sale listings, while office units and shophouses accounted for two listings each.
The report highlights that for owner sales, retail units outnumbered residential properties, accounting for 14 of the 30 owner listings in 1Q2026. “This may in part reflect the operating cost pressures faced by retailers that threaten to increase further with the outbreak of hostilities in the Middle East,” the report states.
Knight Frank adds that other shifts in the retail landscape, including changing consumer preferences, a decline in the popularity of older retail complexes and emerging retail technologies and platforms, could also be contributing to pressures facing retailers and retail assets.
Knight Frank expects the auction market to “remain active” for the rest of the year, with growing mortgagee sales anticipated to propel listing volumes. “The number of properties on the mortgagee list is expected to continue climbing while owner sale listings attract less inventory for sale,” the report states.
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It adds that auction success rates are expected to stay modest, amid cautious buying sentiment, as volatile economic and geopolitical conditions spark uncertainty.
Meanwhile, certain properties have appeared on auction lists for an extended period of time, which may compel sellers to be more flexible in their pricing, going forward. “As these assets face downward price pressure, especially where the property type or location has lost its former appeal, owners and creditors can be progressively more open to negotiations,” it notes.
Overall, Knight Frank has maintained its project auction success rate of around 5% for 2026. “With listing volumes on the increase and buyers becoming increasingly selective, successful transactions hinge on pricing realism and asset quality rather than distressed urgency,” says Tan Tee Khoon, Knight Frank Singapore’s managing director for auction and sales.