Post image for Singapore Property News This Week #15

RESIDENTIAL

34 properties were put up for auction and only one was sold during Hungry Ghost Festival

According to Colliers International, 34 properties were put up for auction during the lunar seventh month in 2011 and only one property was sold. The property, which was sold for $1.66 million, was a terrace house at Da Silva Lane at Serangoon. So far, the total sale value achieved at auctions for 2011 is $80.4 million, and Colliers International expected the total sale value for 2011 to surpass $110 million.

SRPI revealed a gloomy market situation where prices for non-landed houses increase by a mere 0.2% in July

SRPI showed that the overall price index for non-landed houses increased by only 0.2% month-on-month in July, lower than the 0.7% month-on-month hike in June. Excluding small units and several houses in districts one to four, and nine to 11, …