Developer-led property launches are a great way to spot new deals on the market.
There are however other ways to snag a worthy real estate investment and property auctions can often offer up more surprises than one would expect.
Auctions can sometimes offer up real deals
Property auctions are increasingly popular with home buyers and investors. With a keen eye and careful research, investors can often make decent killings at these events.
The Berth By The Cove
In March last year, for example, a Sentosa Cove penthouse was sold at a mortgagee auction for almost half its original value of $5.64 million. It was eventually sold at the auction for $3.25 million.
See more: Sentosa Cove property go for a steal at auction
Those who may be eyeing properties in specific districts could also look out for auction listings ahead of time and conduct their own research into prices of neighbouring properties.
Last year, for example, district 17 (Changi and Loyang) saw 23 residential properties listed for auction in the first half of the year alone, the highest number recorded since 2011 for this district.
Offering up 42 properties in the live auction
Auction houses have noticed an increase in attendance last year in comparison to 2017, indicating a growing interest from sellers placing their properties under the hammer to buyers looking for investment opportunities.
Auctions with listings in sought after prime locations can often draw crowds.
In the upcoming live auction at Amara Hotel, PropNex has 42 listings up for auction.
There are 13 residential properties, 15 commercial properties and 14 industrial properties in the upcoming auction.
Under the residential category, there are at least 3 properties in district 9, including The Vermont, Helios Residences and The Peak@Cairnhill.
Apartment units aside, there are also landed properties for those looking for heftier investment opportunities, such as an 8,967 sq ft bungalow in Sentosa Cove, a 3,217 sq ft bungalow on Swiss Club Road in district 11 and a 5-storey cluster housing in district 21.
The Peak at Cairnhill 1
Shophouse units are also available under the commercial real estate segment, including units at Jalan Besar, South Buona Vista Road and Desker Road.
The auction is happening on Tuesday, 29 January at Amara Hotel from 2.30pm – 5.00pm and tickets are available on the PropNex website.
Their Corporate Sales and Auction Department is also extending the invitation to have sellers list properties with them for future auctions. Auctioneers often count banks and financial institutions, law firms, liquidators, trustees, corporate companies and even individuals as their clientele.
See more: Collective sale of condominium near Orchard shopping belt
