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More prime district home owners defaulted on loans in 2019
This led to surge in mortgagee-sale listings; time taken to sell such property longer now
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There were more mortgagee-sale listings from prime districts such as Orchard, Cairnhill (both above) and River Valley last year.
PHOTO: ST FILE
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Buffeted by economic uncertainties as the United States-China trade war dragged on, owners of residential properties in prime districts last year defaulted on bank loans, contributing to one of the greatest number of mortgagee-sale listings seen in recent years.
Meanwhile, the time taken to sell a mortgagee-sale property has lengthened with buyers taking a wait-and-see approach, say industry experts.
