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Singapore's seized luxury goods sell fast, condos don't

Original: Three years after a S$3 billion money laundering scandal hit Singapore, some seized luxury items like designer bags have

Three years after Singapore's S$3 billion money laundering scandal, authorities are liquidating assets seized from the accused. Designer bags and other luxury items have been snapped up at auction, but upscale condos linked to the case are struggling to attract buyers. Analysts note the contrast reflects weaker conditions in Singapore's high-end property market despite strong demand for collectibles.

Why now: The scandal's asset sales remain in the news as auction results highlight the divide between luxury goods and property demand.

SingaporeSrinidhi Ragavendran

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• Three years after a S$3 billion money laundering scandal hit Singapore, some seized luxury items like designer bags have been snapped up at auction. But upscale condos are struggling to find buyers. Srinidhi Ragavendran explains why. https:// bloom.bg/4ecbAUz · business · 6

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