Sales of distressed homes take off as demand and prices converge
Potential buyers make rounds at property auctions for bargains, but auctioneers say fire sales not typical
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Singapore
SALES of distressed residential properties may be moving at glacial speed but some are getting sold as buyers pay near the opening prices, either at auction, or by negotiation after the auction.
A mortgagee property at The Ladyhill was sold above the opening price of S$7.055 million after the Jan 7 auction, said Sharon Lee, Knight Frank's head of auction & sales.
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