Property scene muted for Q3, but auction market hot: JLL

The property market was mostly muted in August, said consultancy JLL.
The property market was mostly muted in August, said consultancy JLL. ST PHOTO: JAMIE KOH

SINGAPORE - The property scene for the third quarter of this year was mostly muted, mainly due to the Chinese seventh month and Hungry Ghost Festival in the month of August, said the latest report by consultancy JLL.

However, the auction market's total sales value rose to S$21.2 million, an increase of 42.8 per cent from the previous quarter at S$14.8 million, this was also "an impressive 120 per cent increase from the first quarter's S$9.6 million".

There were 14 units sold in the third quarter, compared with only six in the previous two quarters each.

JLL noted lack of big ticket items, as only four units were more than S$1.5 million.

rachaelb@sph.com.sg