SUBSCRIBERS

Mortgagee sales set to rise in 2015

Weak rental market and rising interest rates will make financing of properties tougher

Published Fri, Dec 12, 2014 · 09:50 PM

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.

The number of mortgagee listings surged to 159 from only 32 last year, according to latest figures from Colliers International. Among these, 22 properties were sold for a total of S$36.9 million - more than doubling from last year when 10 properties were s…

KEYWORDS IN THIS ARTICLE

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Property

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here