22 Aug '16, 6am

Number of mortgagee sales of strata industrial units rises | The Edge Property Singapore

Number of mortgagee sales of strata industrial units rises | The Edge Property Singapore

Two 3,046 sq ft units at Entreprenuers Business Centre in Kaki Bukit have been put up for auction eight times since April 2014, and are now available for sale by private treaty. Click here for more listings of industrial properties near Kaki Bukit. Source: DTZ The number of strata-titled industrial properties surfacing as mortgagee sales at auctions is on the rise. The increase has been more pronounced over the past 12 months, as the weakening of the global economy has taken a toll on the industrial sector. While hardly any strata industrial properties were put up for mortgagee sale in 1Q2015, at least one or two units appeared as a bank sale at every auction in January and February, says Joy Tan, DTZ head of auction. Most of the strata factories put up for mortgagee sale today are owner- occupied, she observes. An example is a 7,858 sq ft, three-storey strata terrace fact...

Full article: http://www.theedgeproperty.com.sg/content/number-mortgage...

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