Auction listings fall in 2Q2025 on lower mortgagee sales: Knight Frank
Properties successfully auctioned in 2Q2025 include the sale of a four-bedroom apartment at The Sovereign (pictured) for $7.7 million (Picture: Samuel Isaac Chua/The Edge Singapore)
The Singapore property auction market saw a decline in the number of properties listed for auction in 2Q2025. Research by Knight Frank Singapore shows that auction listings totalled 120 last quarter, including repeat listings and excluding properties sold outside of auction. This is an 11.8% q-o-q fall from the 136 auction listings recorded in 1Q2025, and 4.3% lower y-o-y.
The decline came on the back of a lower number of mortgagee sale listings, according to Knight Frank’s research. In 2Q2025, there were 64 mortgagee sale listings, down 22.9% from the 83 such listings the quarter before. “The decrease in mortgagee sale listings could have been attributed to the easing of interest rates that allowed more homeowners to stay current on their mortgage payments, giving a window for those who have been financially distressed to dispose of such properties themselves instead of having to foreclose,” explains Sharon Lee, Knight Frank Singapore’s head of auction and sales.
Owner sale listings totalled 41 in 2Q2025, on par with the 43 logged in the previous quarter. There were also 15 listings of other types, comprising seven bank sale listings, three estate sale listings, three sheriff sale listings one liquidator listing, and a receiver sale.
The lower number of total listings in 2Q2025 coincided with a slight drop in auction success rates. Five properties were sold at auction last quarter at a total gross sale value of $21.3 million. This translates to a success rate of 4.2%, which is lower than the 5.1% success rate from seven properties sold at auction in 1Q2025.
Nonetheless, the properties sold in 2Q2025 bring the number of successful auctions to 12 properties in the first half of the year, up from the eight properties sold over the same period in 2024. “Most properties sold in the first half of 2025 were either sold at a discount or at opening price, signifying that sellers are beginning to rationalise their price expectations to market levels, cashing out on their property in a time when the global economy is volatile,” adds Lee.
The properties that were knocked down last quarter comprised two mortgagee sales, two owner sales, and a sheriff’s sale. For the mortgagee sales, one property was an office unit at Centrium Square on Serangoon Road that was sold for $1.56 million, while the other was a four-bedroom apartment at Windy Heights on Jalan Daud that fetched $3.2 million.
The two units in the owner sales consisted of a 3,305 sq ft, four-bedroom apartment at The Sovereign on Meyer Road, which was sold at its opening price of $7.7 million, and an HDB shop on Upper Cross Street that fetched $1.25 million.
The sheriff’s sale involved a landed home on Brighton Avenue that was sold for $7.6 million, 1.3% higher than its opening price.
In terms of property type, residential properties made up 64 of the total listings last quarter, similar to the 62 homes listed in 1Q2024. Commercial properties made up 26 listings (17 retail shops and nine offices) in 2Q2025. This is less than the 38 commercial listings last quarter. Industrial properties totalled 28 listings in 2Q2025, less than the 32 listings in the quarter before.
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