Residential

More properties sold at auctions in Q4 According to JLL, properties at auctions sold at a faster rate in Q4 as compared to the previous quarters. JLL said that as buyers’ and sellers’ expectations converge, property sales at auctions have picked up in 2014. In its report, JLL said that to meet buyers’ expectations, sellers have been more willing to lower their prices. In Q4 this year, the proportion of properties sold during their first auction listing has increased to 90 percent from 80 percent in Q3. As such, $13.7 million worth of properties were sold at auctions in Q4 this year. However, this year, the total sales value of properties sold at auctions fell by 27 percent from that in 2013 to $72.5 million. Nonetheless, Mok Sze Sze from JLL is optimistic about property sales at auctions in the coming year. She believes that there will ......