{"id":101682,"date":"2018-11-26T10:20:01","date_gmt":"2018-11-26T03:20:01","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/mas-exercise-caution-in-taking-up-housing-loans\/"},"modified":"2018-11-26T11:03:04","modified_gmt":"2018-11-26T04:03:04","slug":"mas-exercise-caution-in-taking-up-housing-loans","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mas-exercise-caution-in-taking-up-housing-loans\/","title":{"rendered":"MAS: Exercise caution in taking up housing loans"},"content":{"rendered":"


\nHome buyers should remain prudent in their buying decisions on the back of rising interest rates and the upcoming supply of new homes.
\nWhile the recent curbs had slowed the pace of property price hikes and transactions, the Monetary Authority of Singapore (MAS) has called on prospective home buyers \u201cto carefully consider\u201d the impact of rising interest rates and the upcoming supply when taking up loans, reported the Straits Times.
\nGiven the \u201cheadwinds of rising interest rates\u201d and the expectation that rental yields will remain weak, prospective buyers should remain prudent in their buying decisions, factoring in likely hikes in their debt-servicing burdens, said MAS.
\n\u201cOver-leveraged households could also see a rapid deterioration in their balance sheet indicators if there is a sharp correction in property prices,\u201d it added.
\nFor the third quarter of 2018, household debt rose three percent year-on-year, on the back of a 3.4 percent hike in housing loans, said MAS in its annual Financial Stability Review.
\nIt noted that the value of new housing loans as of July jumped 30 percent year-on-year as residential property demand picked up.
\nThe property cooling measures rolled out by the government in July helped \u201ctemper the pace of price increase and land sales activities\u201d.
\nThis comes as Singaporeans and permanent residents purchasing their second and successive properties are required to pay more in stamp duties under the new measures.
\nThe government raised the Additional Buyer\u2019s Stamp Duty applicable to them by five percentage points, while the loan-to-value limit \u2013 or the proportion of a property\u2019s value which a buyer could borrow \u2013 was cut by five percentage points.
\n\u201cSharp increases in prices, if left unchecked, could have run ahead of economic fundamentals and raised the risk of a destabilising correction later, especially with rising interest rates and the strong pipeline of housing supply,\u201d MAS said.
\nHome buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…MAS: Exercise caution in taking up housing loans<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Home buyers should remain prudent in their buying decisions on the back of rising interest...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-101682","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-qs2","jetpack-related-posts":[{"id":123833,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-unveils-new-property-cooling-measures\/","url_meta":{"origin":101682,"position":0},"title":"Singapore unveils new property cooling measures","date":"December 16, 2021","format":false,"excerpt":"\r Singapore unveils new property cooling measuresThe new Singapore property cooling measures, which include a higher ABSD, lower TDSR, and tighter LTV, will take effect from today, 16 December 2021. 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