Bought my property via lelong 1year+ back. It was new property.

Cons -
- The rush to get the loan done. Also, a lot of banks don't do auction loans.
- No keys. Once confirmed by lawyer, have to break into the house with locksmith and police.

Pros
- 15% below market price

Would I do it again? Yes, I would.
It was not easy and quite a rush, but I do think it's worth it.