A recent reappraisal placed the land’s value at $95 million, a steep drop from the previous assessment of $130 million. The first appraisal came during the height of the real-estate boom, said deputy state land commissioner Jamie Hogue.
And like any bottom-line business, developers weren’t interested in buying property at the market’s peak. Tempebased SunCor [...]
Ghost bidding, or manufacturing bids to get a higher price for a property is widespread in the auctioneering business, it was alleged last night on RTÉ’s Prime Time programme.
Two anonymous contributors to the programme - both former estate agents - said it is common practice for auctioneers to “bid up†a property to the price [...]
The city will turn to Internet auctions to sell its extra land, a lucrative alternative to the old ways of either requesting offers from developers or just sitting at a table and hashing out a deal.
Selling land online is a new idea for governments in Palm Beach County, city finance officials say.
“As far as I [...]
Only 48 per cent of the properties offered for auction in Sydney on the weekend were sold.
This puts Sydney’s auction results in line with the national clearance rates, which have decreased in recent months. However, the median price was $615,500 compared to a median of $570,000 three months ago.
Slightly over a third of the 324 [...]
Press Release
This past 18 months has seen the commercial and industrial property market in South Africa transform into a sellers market with unprecedented interest being shown from the investor public. The C and I Market is an abbreviation for the Commercial and Industrial market and includes all investment property within these 2 sectors, either for [...]
The value of properties that were sold at auctions this year hit its highest level in seven years.
According to property consultant Knight Frank, some S$320 million worth of properties changed hands at auctions in 2006.
This was the highest since the last market peak in 1999.
All in, for the whole year, about 175 [...]
In the auction of 38 plots located at Dugri Phase 1 and 2, Punjab Urban Development Authority (PUDA) today earned a profit of 22 per cent.
About 40 bidders took part in the auction held at the PUDA office. Against the reserve price of Rs 6.48 crore, the department earned a profit of Rs 7.98 crore. [...]
