Chart of the Day: See the 5-year high number of properties put up for mortgagee sale

On the back of stricter regulatory and financing environment.

The Singapore property auction market through 2014 saw a total of 529 properties being put up for sale; of which 159 (30.1 per cent) were put up by mortgagees.

According to a report by Colliers, not only is this 5 times the 32 properties put up by mortgagees in 2013, it is also the highest number in 5 years since 2010. Meanwhile, the proportion of properties put up by owners in 2014 remains high at close to 69.9 per cent.

Annie Chan, Auction & Sales at Colliers International says, “The higher number of mortgagee listings this year was on the back of the stricter regulatory and financing environment, in which borrowers in default are finding it challenging to sell their properties on their own, as buyers generally remain cautious.