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 properties were sold at auctions - up from 163 in 2005.

Altogether some 1,838 properties were put up for auction - some 24 percent less compared to last year.

Posted: 12|29|06 at 8:46 am. Filed under: Property News.