Even as Singapore's economic outlook worsens, there probably will not be a sharp spike in mortgagee sales this year because of government relief measures such as a deferment of loan repayments, and banks holding off on foreclosures until the loan deferment period ends.

In addition, real estate auctions were suspended during the circuit breaker for nearly two months until June 1, and even now, auctions are still not allowed as physical gatherings of more than five people are forbidden, analysts said.