More large apartments put up for mortgagee sale in H1

Singapore

THERE was a spike in the number of large apartments - defined as residential units above 1,500 sq ft - being put up for mortgagee sale at auctions in the first six months of this year, reflecting the challenging resale climate in this segment of the market.

Sizable non-landed homes included a 5,059 sq ft unit at Residences at Killiney in District 9, and a 4,133 sq ft unit at Seascape @ Sentosa Cove in District 4.

Large apartments, which were popular during the market boom in 2007 and 2008, are now languishing in demand due to affordability concerns following stringent lo…