Auction sessions – held once every month – have been fairly well-attended, especially when certain properties becoming available, including those in prime locations such as Sentosa, near Orchard Road/Tanglin districts, in the city fringe or in Good Class Bungalow areas.

Colliers International sold several such properties in May: a three-bedroom unit at Botanic Gardens Mansion went for SGD2.65 million; a one-bedder at Spottiswoode 18 was sold for SGD850,000; and a three-bedroom apartment at Tanglin View fetched SGD1.55 million.

Some investors attend auctions in the hope of buying a property for a song or to soak in the excitement – many of them would be disappointed. Property auctions in Singapore tend to be fairly placid affairs without too much fanfare or frenzied bidding, but there are good value deals to be had.