A total of 27,541 properties with an estimated reserve value of RM14.2 billion went under the hammer in 2020, a year-on-year decline of 25% and 28% in terms of cases and value respectively, according to AuctionGuru.com.my data.
Not only did the number of foreclosure properties drop significantly last year, but the total number of auction properties was also the lowest in the past six years.
Although Malaysia has recorded the lowest number of foreclosure properties last year, AuctionGuru.com.my executive director Gary Chia says the downtrend did not reflect the real market condition.
Media Title: EdgeProp.my
Date: 21 May 2021