Mortgagee sales set to rise in 2015

Singapore

MORE properties went under the hammer this year, including more mortgagee sales which consultants reckon is a sign of increased difficulties among borrowers to finance their mortgages. This is set to rise further next year, they believe.

A total of 529 properties of all types were auctioned and 32 of them were sold at a total value of S$72.5 million. This compares to 488 properties auctioned last year, of which 19 were sold for a total of S$91.6 million.