Trouble in paradise with more prime district homes in mortgagee sales

Singapore

SOME find it hard to believe but there may be trouble even in paradise as more posh homes in prime districts - landed and non-landed - are popping up in mortgagee sales amid a weak economy.

The number of listings - 630 - under mortgagee sale in 2019 was also the highest since Knight Frank started recording auction data in 2011, said Lee Nai Jia, the firm's head of research. Total auction listings rose 24 per cent to 1,387 in 2019 because auctions are increasingly gaining acceptability as a mode of sale.