Knight Frank Sells Property At 22% Above Opening Price In First Property Auction Since Circuit Breaker
Knight Frank Singapore has reselled a residential property at 14 Lor Kismis for $1.32 million, or 22% more than the place’s introduction amount of $1.1 mil at its premier residence auction since the circuit breaker, as stated in news on 23 October.
At an acreage of about 3,290 square foot, the 2-storey semi-d property features 51 yrs remained in its leasehold occupancy of 99 yrs.
“Situated inside a greatly coveted suburb, 14 Lor Kismis is positioned in a great location just where everything is within reach, in the surrounding area. KF was furthermore enjoyably delighted by its interest, as the property was fiercely taken on and even dealed in nothing but less than ten mins,” shares Sharon Lee, Chief of Auction and Sales at Knight Frank Singapore.
The beneficial activity was conducted on 16 October 20, alongside a healthy crowd of over thirty attendees. Due to the COVID-19 circumstance, the occasion was administered by having stringent risk-free management strategies engaged by means of social distancing and also enforced face mask wearing by every guests.
Knight Frank is the first real estate auction sale house in Singapore, also the first-ever to conduct a residential property auction in the country. Coming out of its simple beginnings in a boxing ring at Happy World amusement park, the business currently owns a resolute reputation as a pioneer in property public auctions eighty years on.