More prime district home owners defaulted on loans in 2019

There were more mortgagee-sale listings from prime districts such as Orchard, Cairnhill (both above) and River Valley last year.
There were more mortgagee-sale listings from prime districts such as Orchard, Cairnhill (both above) and River Valley last year.PHOTO: ST FILE

This led to surge in mortgagee-sale listings; time taken to sell such property longer now

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.

Please or to continue reading the full article. Learn more about ST PREMIUM.

Enjoy unlimited access to ST's best work

  • Exclusive stories and features on multiple devices
  • In-depth analyses and opinion pieces
  • ePaper and award-winning multimedia content
A version of this article appeared in the print edition of The Straits Times on January 27, 2020, with the headline 'More prime district home owners defaulted on loans in 2019'. Print Edition | Subscribe