S'PORE HOME LOANS FEEL IMPACT OF COOLING MEASURES
The number of new housing loans and property deals in
declined after the last round of cooling measures implemented in January this year, according to the Monetary Authority of Singapore ( Singapore MAS).
MAS’ latest Financial Stability Review report showed that new housing loans dropped to S$12.4 billion in Q3 while outstanding housing loan growth eased to 18 percent year-on-year in Q3, down from 23 percent in Q4 last year.
The report noted that the key drivers behind the moderation were decreases in both sub-sale and resale activities.
“The policy measures taken by the government appear to have dampened the momentum in the private residential property market somewhat,” said the
Info courtesy - PropertyGuru