Singapore Expats Forum

Auction in Singapore?

Discuss about where to live, renting a property, tenancy issues, property trend and property investment in Singapore.
Post Reply
tracey321
Newbie
Newbie
Posts: 1
Joined: Wed, 15 Jan 2020 10:35 pm

Auction in Singapore?

Post by tracey321 » Wed, 15 Jan 2020 10:37 pm

Just moved back from Australia. Planning to buy a house here. Does Singapore have auction fire sale sorta thing where I can get properties cheap?

Singapore Property Search

 

User avatar
sundaymorningstaple
Moderator
Moderator
Posts: 36491
Joined: Thu, 11 Nov 2004 1:26 pm
Location: Retired on the Little Red Dot

Re: Auction in Singapore?

Post by sundaymorningstaple » Wed, 15 Jan 2020 10:46 pm

Last time I heard of one of those was in 1998 during the Asian Financial Meltdown of 1997~1998. There ain't no such thing a cheap property in Singapore.

User avatar
PNGMK
Governor
Governor
Posts: 6569
Joined: Thu, 21 Mar 2013 9:06 pm
Location: Sinkapore

Re: Auction in Singapore?

Post by PNGMK » Thu, 16 Jan 2020 10:04 am

Actually SMS there are mortgagee auctions for property and they happen about once a month from memory. They are coordinated by one or two of the large RE firms who list run the bank mortgage auctions - they also sometimes offer the properties by tender. I can't recall which firms and it prob breaks forum rules to post the name but google will bring it up. There are also car auctions for the same reason.
I not lawyer/teacher/CPA.
You've been arrested? Law Society of Singapore can provide referrals.
You want an International School job? School website or http://www.ISS.edu
Your rugrat needs a School? Avoid for profit schools
You need Tax advice? Ask a CPA
You ran away without doing NS? Shame on you!

User avatar
sundaymorningstaple
Moderator
Moderator
Posts: 36491
Joined: Thu, 11 Nov 2004 1:26 pm
Location: Retired on the Little Red Dot

Re: Auction in Singapore?

Post by sundaymorningstaple » Thu, 16 Jan 2020 2:38 pm

I stand corrected and admonished! :oops: :oops!:

User avatar
abbby
Chatter
Chatter
Posts: 394
Joined: Thu, 21 Jul 2005 3:00 am
Location: Tiny Island

Re: Auction in Singapore?

Post by abbby » Thu, 16 Jan 2020 6:39 pm

Seems like the prices listed for fire sale, are not very cheap either...they're mostly asking market rate..
The secret of life is honesty and fair dealing. If you can fake that, you've got it made. - Groucho Marx (1890-1977)

User avatar
PNGMK
Governor
Governor
Posts: 6569
Joined: Thu, 21 Mar 2013 9:06 pm
Location: Sinkapore

Re: Auction in Singapore?

Post by PNGMK » Thu, 16 Jan 2020 9:03 pm

Holding costs for properties are not expensive. The banks can wait for a buyer so unless there is a court ordered sale date they will just wait for a buyer.
I not lawyer/teacher/CPA.
You've been arrested? Law Society of Singapore can provide referrals.
You want an International School job? School website or http://www.ISS.edu
Your rugrat needs a School? Avoid for profit schools
You need Tax advice? Ask a CPA
You ran away without doing NS? Shame on you!

Post Reply


  • Similar Topics
    Replies
    Views
    Last post

Return to “Property Talk, Housing & Rental”

Who is online

Users browsing this forum: No registered users and 3 guests