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More prime district home owners defaulted on loans in 2019

Fresh property news selection on January 28. 2020, Tuesday.

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This led to surge in mostgagge-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.

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