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Rising interest rates, increasing supply of homes for rent contributes to increase in auctions

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Colliers International says 171 properties were set available to be purchased as mortgagee deals in the initial nine months of 2015.

This is a 52.7 per cent increase compared to the same period in 2014, which saw 112 such listings. 32 were landed properties, double the 15 listings in the first nine months of 2014.

For the first three quarters of 2015, sales totaled S$90.8 million, a hike of 54 per cent compared to the first three quarters of 2014. Rising interest rates and the increasing supply of homes for rent were key reasons for the rise in mortgagee sales.

Taken from iProperty

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Guest Wednesday, 21 August 2019