There was a bump in the number of properties going under the hammer last quarter, due to the tranche of luxury and ultra-luxury properties seized in the $3 billion money-laundering case finally coming to market.
According to a report on the auction market by Knight Frank Singapore, there were 163 auction properties in 3Q2026, a small increase of 3.8% q-o-q compared to the 157 listings in the previous quarter.
Among the properties listed for auction in the third quarter of this year, only 26 properties were linked to the $3 billion money laundering case.
The total tally of auction properties in 3Q2026 comprised 77 mortgagee sales, 41 owner sales, and 45 others (such as MCST sales, sheriff sales, estate sales, and a public trustee sale).
Collectively, only nine properties were successfully sold at auction, or by various auction teams, last quarter. The units sold include two mortgagee sales, an owner sale, two MCST sales, with the remaining four linked to the money laundering case.
Knight Frank reports that the total gross sales value amounted to $24.1 million, translating to a success rate of 5.5%.
The sale of the four money-laundering-linked properties at Martin Modern and Wallich Residence contributed significantly to the quarterly total gross sales value, with a combined sales value of $16.3 million. All four were sold below their respective opening bid prices.
Following the September auctions, six more luxury properties were added to the auction list in October.
Overall, the bulk of auction listings in 3Q2026 were residential and industrial properties, matching the rate seen in previous quarters in the year. Residential listings increased by 21 or 25.3% q-o-q from 83 listings in the previous quarter, but the number of industrial property listings fell by 10.0% q-o-q.
Nicholas Keong, Head of Auction, Residential & Private Office at Knight Frank, notes that while the newsworthy listings of luxury properties in the money-laundering case attracted a lot of public attention, serious auction buyers remain selective. “The results underline the importance of realistic pricing and each property’s location, condition and market appeal.”
Mortgagee sales
The number of mortgagee sales listings last quarter fell 29.4% q-o-q to 77 listings, which consisted of 38 residential units, 29 industrial properties, nine retail shops and one office unit.
Two properties that were sold by bank sales this quarter include a three-bedroom condominium at Ava Towers and a two-bedroom apartment at Hilltops in District 9.
Both Ava Towers and Hilltops are freehold developments. The former has only seen one transaction so far this year - a 1,173 sq ft unit which changed hands for $1.88 million ($1,602 psf).
Recent resale transactions at Hilltops
| Project Name | Transacted Price ($) | Area (SQFT) | Unit Price ($ PSF) | Sale Date |
| HILLTOPS | 3750000 | 1248.62 | 3,003 | Sep-26 |
| HILLTOPS | 5360000 | 1550.02 | 3,458 | Aug-26 |
| HILLTOPS | 5250000 | 1550.02 | 3,387 | Aug-26 |
| HILLTOPS | 11,450,000 | 3207.67 | 3,570 | Jul-26 |
| HILLTOPS | 5,000,000 | 1550.02 | 3,226 | Jul-26 |
| HILLTOPS | 8,880,000 | 2464.96 | 3,602 | Jul-26 |
| HILLTOPS | 3,300,000 | 1184.04 | 2,787 | Jun-26 |
| HILLTOPS | 8,088,600 | 2378.84 | 3,400 | Jun-26 |
| HILLTOPS | 8,088,000 | 2389.61 | 3,385 | Apr-26 |
| HILLTOPS | 5,120,000 | 1550.02 | 3,303 | Apr-26 |
| HILLTOPS | 4,400,000 | 1248.62 | 3,524 | Jan-26 |
Meanwhile, Hilltops has seen a fair number of resale transactions in 2026. The most expensive resale transaction was a 3,207 sq ft low-floor unit that transacted for $11.45 million ($3,570 psf) in July, while the lowest absolute price resale transaction came in at $3.3 million ($2,787 psf) for a 1,184 sq ft unit that was sold in June.
Owner sales
The number of owner listings that hit the auction market in 3Q2026 shot up 28.1% q-o-q to reach a total of 41 listings. They comprised 30 residential listings, nine industrial property listings, and two retail units.
But only one of these properties was sold last quarter - a one-bedroom apartment at Suites@Braddell, a freehold development in District 13, which was auctioned off for $636,000. This transaction was 1.3% higher than its opening price of $628,000 and is the development's first resale transaction in two years.
Out of the 26 properties that were put up for auction, only four were successfully sold under the hammer, making up just under half of all the successfully auctioned properties during the quarter. These included two two-bedroom apartments at Martin Modern, and two four-bedroom apartments at Wallich Residence.
Martin Modern has seen consistent resale transaction volumes across the year. It was noted in an earlier article that some of the initial two- to four-bedroom unit owners here had made significantly higher gains compared to those with a similar holding period who had purchased later.
Resale transactions at Martin Modern in 2026 (year-to-date)
| Project Name | Transacted Price ($) | Area (SQFT) | Unit Price ($ PSF) | Sale Date |
|---|---|---|---|---|
| MARTIN MODERN | 2,145,000 | 764.24 | 2807 | Sep-26 |
| MARTIN MODERN | 2,100,000 | 764.24 | 2748 | Aug-26 |
| MARTIN MODERN | 2,400,000 | 850.36 | 2822 | Aug-26 |
| MARTIN MODERN | 2,448,000 | 850.36 | 2879 | Aug-26 |
| MARTIN MODERN | 4,290,000 | 1399.32 | 3066 | Jul-26 |
| MARTIN MODERN | 1,960,000 | 764.24 | 2565 | Jul-26 |
| MARTIN MODERN | 2,058,000 | 764.24 | 2693 | Jul-26 |
| MARTIN MODERN | 4,070,000 | 1420.85 | 2864 | Jul-26 |
| MARTIN MODERN | 2,350,000 | 764.24 | 3075 | Jun-26 |
| MARTIN MODERN | 2,000,000 | 764.24 | 2617 | May-26 |
| MARTIN MODERN | 4,900,000 | 1733.00 | 2827 | May-26 |
| MARTIN MODERN | 4,330,000 | 1399.32 | 3094 | May-26 |
| MARTIN MODERN | 2,550,000 | 882.65 | 2889 | Apr-26 |
| MARTIN MODERN | 2,220,000 | 764.24 | 2905 | Apr-26 |
| MARTIN MODERN | 1,950,000 | 764.24 | 2552 | Apr-26 |
| MARTIN MODERN | 3,178,000 | 1011.82 | 3141 | Mar-26 |
| MARTIN MODERN | 2,000,000 | 764.24 | 2617 | Mar-26 |
| MARTIN MODERN | 4,250,000 | 1420.85 | 2991 | Mar-26 |
| MARTIN MODERN | 1,938,000 | 764.24 | 2536 | Mar-26 |
| MARTIN MODERN | 4,970,000 | 1733.00 | 2868 | Mar-26 |
| MARTIN MODERN | 2,050,000 | 764.24 | 2682 | Mar-26 |
| MARTIN MODERN | 2,430,000 | 850.36 | 2858 | Feb-26 |
| MARTIN MODERN | 2,088,000 | 764.24 | 2732 | Feb-26 |
| MARTIN MODERN | 2,400,000 | 882.65 | 2719 | Feb-26 |
| MARTIN MODERN | 2,080,000 | 764.24 | 2722 | Feb-26 |
| MARTIN MODERN | 2,180,000 | 764.24 | 2852 | Jan-26 |
Meanwhile, Wallich Residence saw four resale transactions this year, with the most expensive resale transaction of $3.53 million ($3,213 psf) involving a 1,097 sq ft unit that was sold in January, while the lowest absolute-priced resale unit was a 645 sq ft unit that changed hands for $1.78 million ($2,756 psf) when it was sold in April.
Recent resale transactions at Wallich Residence (year-to-date)
| Project Name | Transacted Price ($) | Area (SQFT) | Unit Price ($ PSF) | Sale Date |
| WALLICH RESIDENCE | 1,800,000 | 645.84 | 2787 | May-26 |
| WALLICH RESIDENCE | 1,780,000 | 645.84 | 2756 | Apr-26 |
| WALLICH RESIDENCE | 3,250,000 | 1194.80 | 2720 | Mar-26 |
| WALLICH RESIDENCE | 3,528,000 | 1097.93 | 3213 | Jan-26 |
The two MCST sales that were closed involved a three-bedroom condominium at Orchid Park Condominium in Yishun, and a ramp-up warehouse unit at The Westcom in Tuas South.
Market outlook
In general, Singapore’s property auction market is expected to remain stable for the rest of this year, supported by modest transaction volumes largely driven by market fundamentals, according to the Knight Frank analysis.
The consultancy projects auction success rates to range from 3% to 5% for the whole of 2026, with a current 4.3% success rate from the first to third quarter.
The firm adds that prospective buyers in the auction market will need to evaluate each asset on its own merits before committing to a bid and purchase. The key consideration factors include location, pricing, asset quality and redevelopment potential.
While there are opportunities to buy well at auctions, buyers should not assume that an auctioned property will be cheap, says Keong. He also reiterates that in the context of a bank sale, the lender has a duty to act in good faith to obtain a proper market price at the time of sale.
The forecast is that auctions will remain a relevant platform, especially for properties that benefit from broad market exposure or require a clear and structured sales process.
0 Comments