24 Nov '14, 6am

More repossessed homes up for auction

Comment E-mail to friend Bookmark & Share Singapore’s weak property market saw the number of homes put on auction by banks increase significantly, reported the media. From January to October this year, 131 properties of all types were put on sale through auction by lenders or mortgagees, up from last year’s 25 properties, figures from Colliers International show. Of these, 98 homes were put up for auction by mortgagees — an increase from the 14 homes put up for auction over the same period last year. Analysts attribute the increase to cautious buyers which make it difficult for borrowers in default to sell their properties on their own. An auction by Colliers last week featured two 1,926 sq ft units at The Laurels in Cairnhill Road (pictured) , while an auction by Knight Frank listed a 1,755 sq ft unit at Botanic Gardens Mansion in Tanglin. On the other hand, fewer suburba...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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propertyguru.com.sg 24 Nov '14, 3am

Comment E-mail to friend Bookmark & Share Singapore’s weak property market saw the number of homes put on auction by banks...

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