This is a very important situation to consider if you intend to invest in properties. There is a significant gap between what the banks want in auction prices and what buyers are willing to pay, resulting in only 3 properties sold, out of 23 properties auctioned in this video.
Usually, there will come a time when the sellers will decide that any amount is better than not getting the sale done, and this will result in severe "Distressed Selling", which will be the last phase in a Property Market Cycle. However, the last phase may last for some time, if and when it happens. So, do be careful, when you invest in properties today.
Usually, there will come a time when the sellers will decide that any amount is better than not getting the sale done, and this will result in severe "Distressed Selling", which will be the last phase in a Property Market Cycle. However, the last phase may last for some time, if and when it happens. So, do be careful, when you invest in properties today.
Best wishes,
Ooi
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