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Nearly 80% more Singapore homes put up for auction last year by banks and distressed owners

[SINGAPORE] The economic slowdown and the tough leasing market led to a jump in the number of residential properties put up for auction last year, said property research house DTZ.

Listings for mortgagee sale - which is when a bank puts a property up for auction when its owner cannot service the home loan - almost doubled to 87 units from from 47 in 2014.

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