24 Jun '14, 8am

Mortgagee sales touch quarterly high in Q2, Singapore Property News, Singapore Property Guides

Mortgagee sales touch quarterly high in Q2, Singapore Property News, Singapore Property Guides

[SINGAPORE] The number of properties up for auction by mortgagees (or lenders) as well as their share of the number of properties going under the hammer has hit a quarterly high in Q2. Auctioneers say this reflects the difficulty that financially stretched borrowers face in securing buyers for their properties since the implementation of the total debt servicing ratio (TDSR) framework a year ago. Because of this, financial institutions have had to repossess more properties and put them up for auction. The trend is expected to gain momentum as the rising supply of non-landed private homes will make it harder for mortgagors (or borrowers) to find buyers and thus dispose of their properties themselves - resulting in more properties ending up as mortgagee sales. Furthermore, the reduced inflow of expats into Singapore is shrinking the pool of potential tenants, hitting rental ...

Full article: http://www.stproperty.sg/articles-property/singapore-prop...

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