4 condos seized in Singapore's $3b money-laundering case just sold at auction — here's how much they sold for

Four condominium units that were seized during Singapore’s $3 billion money-laundering case were sold during a property auction by SRI on Sept 23, with two units each at Martin Modern and Wallich Residence finding buyers.

All things considered, this is a surprisingly strong result for a property auction where it takes a little bit longer for most properties on the block to get sold, often through private treaty deals after the auction.

Three agencies* — Knight Frank Singapore, ETC, and SRI — were tasked with marketing, and auctioning off, the seized properties.

*List International Realty is also handling some of the forfeited properties, but through expression-of-interest sales and not auctions.

At its auction today, SRI sold four out of 10 units that came from Martin Modern and Wallich Residence, with six from Martin Modern and four from Wallich Residence.

On the other hand, ETC’s auction today also produced no completed sales. Although there was a $3.1 million offer for the industrial unit at Shun Li Factory, that was ultimately withdrawn.

Meanwhile, Knight Frank’s auction on Sept 17 offered seven properties but ended without a successful bid.

We previously listed each of the seized residential properties that were up for auction in this article: How Much Are The Seized $3B Money Laundering Case Condos Worth?

What happened at the SRI auction?

SRI’s auction at Great World City drew about 60 people, packing the room where the auction was held. The six units at Martin Modern were offered first, followed by four units at Wallich Residence.

Note: Both Martin Modern and Wallich Residence are 99-year leasehold properties. Martin Modern is located in District 9, while Wallich Residence is in District 2.

A few market watchers that we spoke to expressed surprise at the level of interest for these property auctions. One participant, who asked to remain anonymous, expressed that they expected ETC’s auction on the same afternoon to perform just as well — this was on the basis that ETC was selling units at the luxury South Beach Residences.

The list of units being marketed by ETC were from South Beach Residences, 8 Saint Thomas, and Paterson Suites.

But we note that the ETC auction had more than 45 registered bidders, although only 11 attended, alongside about 30 walk-ins. A smaller crowd than our estimated 60 persons in attendance at the SRI auction.

The units that caught our attention were the 10 auction units from two projects: Martin Modern and Wallich Residence

Even for non-attendees, this auction provided an interesting round of price discovery for the two properties. Four of the Martin Modern units were 764 sq ft two-bedders, and each was initially offered at $2.238 million, or around $2,930 psf.

The first (#26-10) initially drew no response at the opening price. It was only after one participant eventually offered $2.05 million, that the bidding started in earnest. Subsequently bidding moved to $2.1 million, $2.11 million and finally $2.12 million.

The unit was sold at that price, equivalent to around $2,775 psf, so the very first unit was already successful for SRI.

The next 764 sq ft unit (#29-05) followed a similar pattern. Its $2.238 million opening price attracted little interest, before bidding eventually reached $2.11 million. Given that the previous unit was on a lower floor (26th versus this 29th floor unit), it’s unsurprising that no one was willing to bid higher. The unit was withdrawn after the $2.11 million bid.

Three other units at Martin Modern followed without finding buyers. These included the 1,087 sq ft unit (#28-02), which opened at $3.3 million, and the 1,733 sq ft four-bedder (#26-03), which opened at $4.98 million. Another 764 sq ft two-bedder (#29-06) also received no bids at $2.238 million.

However, the final unit produced the second sale of the afternoon.

The 764 sq ft unit (#17-06) again opened at about $2.24 million, but a buyer offered $2.08 million. Once again, reasonable in the face of the 29th floor unit having just fetched $2.11 million.

The auctioneer sought another $10,000 or $20,000 increase from the room, but no higher bid came. When the gavel came down, the unit was then sold at the offered $2.08 million, or around $2,723 psf.

Agents we spoke to said they would consider the winning bids to be reasonable. For context, two-bedroom units in some new launch projects this year already hover between $1.8 million to $2 million, so a slightly higher price point for a prime District 9 project like Martin Modern is not unreasonable.

Nonetheless, the bidding process reveals substantial price resistance, especially for two-bedders trying to push far beyond a $2 million asking price.

The auction then moved to four units at Wallich Residence, which ranged from 1,313 sq ft to 1,991 sq ft.

The first was a 1,991 sq ft four-bedder on the 61st floor (#61-02). This is the highest unit in Wallich Residence barring the super-penthouse right above it, which was famously (and briefly) owned by James Dyson.

Bidding for the unit opened at $6.78 million - then, there was then a prolonged pause, before a buyer tentatively offered $6.4 million. This got the ball rolling, and was rapidly followed by bids of $6.5 million and $6.6 million.

Ultimately, the auction of the property closed at $6.6 million, or approximately $3,315 psf.

The next unit (#53-01) was a 1,658 sq ft four-bedder on the 53rd floor. It opened at $5.55 million, but again did not immediately draw a bid. A buyer eventually came in at $5.3 million, which kicked off another round of intense bidding.

The bid rose to $5.35 million, $5.4 million, $5.43 million, and finally closed at $5.48 million, which works out to around $3,305 psf.

The similarity between the two sale prices on a $PSF basis is striking. Despite one unit being 333 sq ft larger, and selling for $1.12 million more in absolute terms, the two buyers arrived at almost the same value, at approximately $3,315 psf and $3,305 psf.

The remaining two units from Wallich Residence did not attract bids. The 1,313 sq ft (#51-01) unit on the 51st floor opened at $4.42 million, while the 1,755 sq ft (#54-05) unit opened at $5.9 million. Both were withdrawn without interest.

What happened at the other auctions?

At the same time, ETC was also conducting their own auction at their office in the UIC Building. There a 6,727 sq ft South Beach Residences penthouse with a $25.3 million guide price received no bids.

Four other units at South Beach Residence also went unsold, as did two units at 8 Saint Thomas, and a unit at Paterson Suites. The only recorded bid at the ETC auction was for an industrial unit at 141 Shun Li Industrial Park, but the bid was ultimately withdrawn.

Deloitte, which was appointed by the Singapore Police Force to liquidate the forfeited properties, had said before the auctions that there were no plans to revise the reserve prices.

We know that the handful of properties that went under the hammer today are just a handful of the properties sized by the authorities in relation to this sensational money-laundering case in Singapore. There are still more to come, with over 80 properties expected to be put up for sale between September 2026 and mid-2027.

This article was first published in Stackedhomes .

新加坡30亿美元洗钱案中查获的四套公寓于9月23日由SRI进行房产拍卖售出，其中Martin Modern和Wallich Residence各有两套公寓找到买家。

综合考虑所有因素，对于一场房产拍卖来说，这是一个令人惊讶的强劲结果。在这样的拍卖会上，大多数房产都需要更长的时间才能售出，通常是在拍卖结束后通过私人协议交易的方式。

三家机构*——莱坊新加坡、ETC 和 SRI——负责营销和拍卖查封的房产。

*List International Realty 也在处理一些被没收的房产，但通过意向表达销售而不是拍卖的方式进行。

在今天的拍卖会上，SRI 售出了来自 Martin Modern 和 Wallich Residence 的 10 套公寓中的 4 套，其中 6 套来自 Martin Modern，4 套来自 Wallich Residence。

另一方面，ETC今天的拍卖也未能达成任何交易。虽然有人出价310万美元竞购顺立工厂的工业厂房，但最终撤回了报价。

与此同时，莱坊于 9 月 17 日举行的拍卖会提供了七处房产，但最终无人竞得。

我们之前在这篇文章中列出了所有被查封并待拍卖的住宅物业：被查封的价值 30 亿美元的洗钱案公寓值多少钱？

SRI拍卖会上发生了什么？

SRI在伟乐坊举办的拍卖会吸引了约60人参加，拍卖厅座无虚席。首先拍卖的是马丁现代公寓的六套单元房，随后是华利世家的四套单元房。

注：马丁现代公寓和华利世家均为99年租赁产权物业。马丁现代公寓位于第9区，华利世家位于第2区。

我们采访的几位市场观察人士都对这些房产拍卖的火爆程度感到惊讶。一位要求匿名的参与者表示，他原本预计ETC当天下午的拍卖也会同样成功——因为ETC当时出售的是位于南海滩的豪华公寓。

ETC 正在销售的单元房来自 South Beach Residences、8 Saint Thomas 和 Paterson Suites。

但我们注意到，ETC拍卖会登记的竞标者超过45人，但实际到场的只有11人，另有约30人现场竞标。这比我们估计的SRI拍卖会60人的到场人数要少。

最吸引我们注意的是来自两个项目——Martin Modern 和 Wallich Residence——的 10 套拍卖单元。

即使对于未到场的买家来说，此次拍卖也为这两处房产的价格发现过程提供了有趣的视角。马丁现代公寓的四套单元房均为764平方英尺的两居室，每套最初的报价均为223.8万美元，约合每平方英尺2930美元。

第一件拍品（#26-10）最初以起拍价无人问津。直到一位参与者最终出价205万美元，竞价才真正开始。随后，出价一路攀升至210万美元、211万美元，最终达到212万美元。

该单元房以该价格售出，相当于每平方英尺约 2,775 美元，因此 SRI 的第一个单元房就已经取得了成功。

下一套面积为764平方英尺（约72平方米）的公寓（29-05号）也遵循了类似的模式。其223.8万美元的起拍价并未引起太多关注，最终竞价达到211万美元。考虑到前一套公寓位于较低楼层（26层，而这套位于29层），无人愿意出价更高也就不足为奇了。在211万美元的出价之后，这套公寓便撤回了竞拍。

Martin Modern 的另外三套公寓也未能售出。其中包括面积为 1,087 平方英尺（28-02 号）的公寓，起价 330 万美元；面积为 1,733 平方英尺（26-03 号）的四卧公寓，起价 498 万美元；以及面积为 764 平方英尺（29-06 号）的两卧公寓，起价 223.8 万美元，同样无人问津。

然而，最后一台设备促成了当天下午的第二笔销售。

这套面积为764平方英尺（17-06号）的公寓再次以约224万美元的价格开盘，但最终买家出价208万美元。考虑到29楼的公寓刚刚以211万美元的价格成交，这个价格再次显得合理。

拍卖师试图再加价1万至2万美元，但无人出价更高。最终，拍卖槌落下，这套公寓以208万美元的报价成交，约合每平方英尺2723美元。

我们采访的经纪人表示，他们认为中标价格合理。作为参考，今年一些新推出的项目中，两居室单元的售价已在180万至200万美元之间，因此，像马丁现代公寓这样位于第九区黄金地段的项目，价格稍高一些也并非不合理。

尽管如此，竞标过程显示出相当大的价格阻力，尤其是对于试图将价格推高到远超 200 万美元要价的两居室住宅而言。

随后拍卖会转移到 Wallich Residence 的四个单元，面积从 1,313 平方英尺到 1,991 平方英尺不等。

第一套是位于 61 层的四居室公寓（#61-02），面积为 1,991 平方英尺。这是 Wallich Residence 的最高单元，仅次于它正上方的超级顶层公寓，而这套超级顶层公寓曾短暂地（但非常著名地）属于詹姆斯·戴森所有。

该房产的竞标起价为678万美元——之后出现了一段长时间的沉寂，直到一位买家试探性地出价640万美元。这打开了竞价的局面，随后迅速出现了650万美元和660万美元的出价。

最终，该房产的拍卖成交价为 660 万美元，约合每平方英尺 3315 美元。

下一套单元（53-01）位于53层，是一套面积为1658平方英尺的四卧公寓。起拍价为555万美元，但同样没有立即有人出价。最终，一位买家以530万美元的价格成交，引发了新一轮的激烈竞价。

出价先后上涨至 535 万美元、540 万美元、543 万美元，最终以 548 万美元成交，折合每平方英尺约 3305 美元。

两套房产的成交价按每平方英尺计算非常接近，这一点令人惊讶。尽管其中一套面积大了333平方英尺，售价也高出112万美元，但两位买家最终的成交价几乎相同，分别为每平方英尺约3315美元和3305美元。

华利世家剩余的两套公寓无人问津。位于51层的51-01单元，面积1313平方英尺，起拍价442万美元；54-05单元，面积1755平方英尺，起拍价590万美元。两套公寓均无人问津，最终撤回。

其他拍卖会发生了什么？

与此同时，ETC也在位于UIC大楼的办公室举行了自己的拍卖会。一套面积为6727平方英尺、指导价为2530万美元的南海滩公寓顶层公寓无人问津。

南滩公寓的另外四套单元房也未能售出，圣托马斯街8号的两套单元房和帕特森套房的一套单元房也同样流拍。ETC拍卖会上唯一有记录的出价是顺里工业园141号的一套工业单元房，但最终该出价被撤回。

德勤受新加坡警方委任负责清算没收财产，在拍卖前曾表示没有计划修改底价。

我们知道，今天拍卖的几处房产只是新加坡当局就这起轰动一时的洗钱案所调查的众多房产中的一小部分。预计从2026年9月到2027年年中，将有超过80处房产被拍卖，届时还将有更多房产被推向市场。

本文最初发表于 Stackedhomes。