{
  "id": 11368023,
  "title": "Hardly any buyers for Singapore luxury condos seized in money-laundering case",
  "url": "https://urgent.news/2026/10/02/hardly-any-buyers-for-singapore-luxury-condos-seized-in-money",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-02T05:32:33.000Z",
  "source": {
    "name": "South China Morning Post",
    "slug": "south-china-morning-post",
    "url": "https://www.scmp.com/news/asia/southeast-asia/article/3369529/hardly-any-buyers-singapore-luxury-condos-seized-money-laundering-case"
  },
  "original_language": "en",
  "account": "Seventy properties seized in Singapore's biggest money-laundering case have remained unsold at auctions despite high interest from the public and minimal competing bids. Over 80 properties, along with 1,000 designer items, forfeited from 10 convicted China-born launderers, are up for sale. Seven luxury units at Gramercy Park, a high-end condominium near Orchard Road, remained unsold after bidding began. One property broker is offering a pair of Sentosa villas, previously purchased for nearly S$29 million, at a combined guide price more than S$6 million lower. Auctioneers anticipate a buyer's market due to limited affluent buyers and government policies discouraging foreign purchases.",
  "summary": "The first apartment came up for auction and nobody moved. More than 60 people crowded into a room in Singapore to watch seven properties seized in one of the world’s biggest money-laundering cases go under the hammer. Their opening prices totalled more than S$43 million (US$33.6 million). But when bidding began for a luxury unit at Gramercy Park, an upscale condominium near the city state’s…",
  "key_points": [
    "Seventy luxury condos seized in Singapore's biggest money-laundering case remain unsold at auctions.",
    "Over 80 properties and 1,000 designer items forfeited from 10 China-born launderers are up for sale."
  ],
  "editors_take": "The unsold seized properties indicate a shift in Singapore's luxury market, where high interest and low competition no longer guarantee sales, and affluent buyers now hold greater negotiating power.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}