31 Mar '16, 3am

Property owners across Singapore are facing greater difficulty when paying off their debt

Property owners across Singapore are facing greater difficulty when paying off their debt

More commercial properties went under the hammer. Property owners across Singapore are facing greater difficulty when it comes to paying off their debt. Data released by Colliers show that a total of 70 properties were put up for mortgagee auctions across the city-state in the first three months of the year, marking a 25% year-on-year jump in listings. "The YOY jump in the number of mortgagee listings reflects the increasing difficulties that property owners are facing in servicing their monthly mortgages. The situation is further aggravated for those who own multiple properties," said Grace Ng, Deputy Managing Director of Colliers International. In Q1, the number of industrial mortgagee listings climbed to 13, accounting for almost 20 per cent of the total mortgagee listings during the quarter. Many of the industrial mortgagee listings in the period were strata-titled fac...

Full article: http://sbr.com.sg/commercial-property/in-focus/mortgagee-...

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