Residential accounts for nearly half of Singapore’s Q3 mortgagee listings

The listings are for non-landed homes.

In a recent report, Knight Frank said the number of auction listings in Singapore declined 25.2% q-o-q to 86 (including repeat listings and excluding properties sold outside of auction) in Q3 2024, with an almost equal number of mortgagee and owner sale listings at 40 and 41 respectively.

During the quarter, residential mortgagee listings decreased from 24 to 19, with these listings stemming from non-landed homes only against the previous quarter when 20 non-landed homes and four landed residences were listed. 

Here’s more from Knight Frank:

There were nine commercial mortgagee listings in Q3, all comprising of retail shops with no office units. This was four more than the five retail shops listed but one fewer than the sole office mortgagee sale listing in Q2. 

Meanwhile, there were 12 industrial mortgagee listings in Q3, unchanged from the previous quarter. 

Against the run in expectations, mortgagee listings eased despite the prevailing credit stress on underperforming properties given the high interest rates. Perhaps with the arrival of a long-awaited interest rate cut by the US Federal Reserve (Fed) and the likelihood of reducing interest rates in the months ahead, property owners were motivated by a knee-jerk reaction to make good on non-performing loans with the promise of relief in sight.