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Five homes auctioned off at massive losses in Q1
One deal lost $2.1m.
Five homes were auctioned off at loss-making prices in the first quarter of the year, a report by Knight Frank revealed.
A unit at The Grange was the biggest loss-making sale of the quarter. The unit was sold at $4.2m, over $2m cheaper compared to its last transacted price of $6.2m.
Other losses pale in comparison. A unit at Amber Residences was sold at $2.7m, representing a loss of over $403,000.
Meanwhile, a unit at Pearl Bank apartment lost $300,000 when it was sold for $1.35m. This was followed by a $108,000 loss at a unit in Estilo, which was sold for $800,000.
Lastly, a property at 60 Eng Kong Drive was sold for $3.3m, representing a loss of $38,000.
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