News: Knight Frank sells property at 22% above opening price in first property auction since circuit breaker

Oct 26, 2020

At a land area of approximately 305.7 sqm (3,290 sq ft), the 2-storey semi-detached house has 51 years left in its leasehold tenure of 99 years. Image: Google Street View

Knight Frank Singapore has sold a property at 14 Lorong Kismis for $1.32 million, or 22% above its opening price of $1.1 million at its first property auction since the circuit breaker, according to release on 23 October. 

At a land area of approximately 305.7 sqm (3,290 sq ft), the 2-storey semi-detached house has 51 years left in its leasehold tenure of 99 years.

“Located within a highly coveted residential area, 14 Lorong Kismis is situated in a great area where everything is within reach, in the surrounding neighbourhood. We were also pleasantly surprised by its popularity, as the property was hotly contested and knocked down in just under 10 minutes,” shares Sharon Lee, Head of Auction and Sales at Knight Frank Singapore.

Recommended article: Property Auctions in Singapore: A Lesser Known Way To Snag Affordable Property

The successful event was held on 16 October 2020, with a healthy turnout of over 30 guests. In light of the COVID-19 situation, the event was conducted with stringent safe management measures in place through social distancing and enforced mask wearing by all attendees.

Knight Frank is the oldest real estate auction house in Singapore, and the first-ever to hold a property auction in the country. From its humble beginnings in a boxing ring at Happy World amusement park, the firm now boasts a steadfast status as a leader in property auctions 80 years on.

The next auction will be held online on Friday, 30 October 2020. Interested participants may find more details and registration on their website

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Michelle Wong
Senior Sales Director
PROPNEX REALTY PTE LTD
mitshellwong@gmail.com
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