Singapore home auctions by banks likely to rise in 2023


ERA Realty Network head of research and consultancy Nicholas Mak says there is a higher probability of more mortgagee sales this year should Singapore see a combination of rising unemployment, economic recession, high interest rates and falling rental demand. — Bloomberg

SINGAPORE: More private residences are expected to be put up for auction by banks and distressed owners this year should the economy slow further and higher mortgage rates start to hurt more homeowners, say property experts.

ERA Realty Network head of research and consultancy Nicholas Mak told The Straits Times that there is a higher probability of more mortgagee sales this year should Singapore see a combination of rising unemployment, economic recession, high interest rates and falling rental demand.

The Star Christmas Special Promo: Save 35% OFF Yearly. T&C applies.

Monthly Plan

RM 13.90/month

Best Value

Annual Plan

RM 12.33/month

RM 8.02/month

Billed as RM 96.20 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
Singapore , mortgage , sales , auction , lease

Next In Business News

Capital A seeks Bursa approval for more time to complete proposed distribution
Ringgit retreats on profit-taking but rounds off 2025 on high note vs greenback
Axis-REIT to purchase industrial property in Senai for RM34.6mil
Bursa Malaysia ends final trading day of 2025 on a softer note
LFE unit accepts LOI for data centre works valued at RM11.5mil
Public Mutual declares over RM128mil in distributions for nine funds
NCT Alliance shareholders give nod to NCT World acquisition
Bank Negara announces reappointments to MPC, SAC
BAT Malaysia redesignates Datuk Sri Mohd Nizam Sairi as chairman
Malaysia's Nov headline inflation at 1.4%, core at 2.2%

Others Also Read