{"id":25289,"date":"2016-09-07T09:35:05","date_gmt":"2016-09-07T02:35:05","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/mas-wont-ease-property-cooling-measures-anytime-soon\/"},"modified":"2016-09-07T09:40:17","modified_gmt":"2016-09-07T02:40:17","slug":"mas-wont-ease-property-cooling-measures-anytime-soon","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mas-wont-ease-property-cooling-measures-anytime-soon\/","title":{"rendered":"MAS won\u2019t ease property cooling measures anytime soon"},"content":{"rendered":"


\nThe revised mortgage refinancing rules do not represent an easing of the property cooling measures, said MAS Managing Director Ravi Menon.
\nThe Monetary Authority of Singapore (MAS) will not ease the property cooling measures which have caused home prices to drop by almost 10 percent anytime soon, reported Bloomberg.
\nMAS Managing Director Ravi Menon explained that last week\u2019s relaxation of mortgage refinancing rules by the central bank is aimed at easing the debt burdens of homeowners, and not create demand for new home loans.
\n\u201cThis doesn\u2019t represent an easing at all,\u201d he said. \u201cIf you look for a prop up to the market, this is not going to help as it doesn\u2019t apply to new loans. This is to improve financial prudence without creating new demand for housing loans. We won\u2019t ease anytime soon.\u201d
\nLast week, the MAS announced that households refinancing their existing mortgages would be exempted from the 60 percent cap under the Total Debt Servicing Ratio (TDSR) framework. However, the exemption only applies to owner-occupiers.
\nHome sales and prices in Singapore have slowed since the government introduced housing curbs in 2009, with some of the strictest measures introduced in 2013, including higher stamp duties on residential acquisitions and the TDSR framework.
\nAuthorities have repeatedly said that they are not ready to ease the curbs despite rising unemployment and slowing economic growth. Home values in the city-state have fallen by 9.4 percent from its peak in 2013.
\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 won\u2019t ease property cooling measures anytime soon<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The revised mortgage refinancing rules do not represent an easing of the property cooling measures,...<\/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-25289","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\/p75ss1-6zT","jetpack-related-posts":[{"id":21108,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/why-singapores-property-cooling-measures-wont-be-removed-anytime-soon\/","url_meta":{"origin":25289,"position":0},"title":"Why Singapore\u2019s property cooling measures won\u2019t be removed anytime soon","date":"July 27, 2016","format":false,"excerpt":"\r \u201cThere is still some way to go\u201d Is it the right time to remove the cooling measures in Singapore? It is not the right time to ease the property cooling measures, revealed the Monetary Authority of Singapore (MAS). \u201cThere is still some way to go, to entrench the gains\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":59338,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-cooling-measures-remain-necessary-says-mas\/","url_meta":{"origin":25289,"position":1},"title":"Property cooling measures remain necessary, says MAS","date":"June 30, 2017","format":false,"excerpt":"\r \u00a0 The Monetary Authority of Singapore on Thursday (29 June) said the property cooling measures remain necessary given that the underlying demand for private residential properties continue to be firm amid a persistently low interest rate environment and foreign investors looking for good yields, reported Today Online. MAS managing\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":20856,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/not-time-yet-to-lift-property-cooling-measures-mas\/","url_meta":{"origin":25289,"position":2},"title":"Not time yet to lift property cooling measures: MAS","date":"July 26, 2016","format":false,"excerpt":"\r Singapore\u2019s property cooling measures won\u2019t be removed anytime soon. It is not the right time to ease the property cooling measures, revealed the Monetary Authority of Singapore (MAS). \u201cThere is still some way to go, to entrench the gains in stabilising the property market and restoring household debt sustainability,\u201d\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":117842,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mas-chief-sees-no-need-to-ease-property-cooling-measures\/","url_meta":{"origin":25289,"position":3},"title":"MAS chief sees no need to ease property cooling measures","date":"July 17, 2020","format":false,"excerpt":"\r This comes as Singapore\u2019s property market has remained stable due to the previous property cooling measures as well as the temporary relief measures rolled out by the government.\u00a0 Despite the economic slowdown due to the COVID-19 pandemic, Monetary Authority of Singapore (MAS) Managing Director Ravi Menon believes there is\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":116041,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/repayment-of-a-wider-pool-of-loans-may-be-deferred-from-6-may-mas\/","url_meta":{"origin":25289,"position":4},"title":"Repayment of a wider pool of loans may be deferred from 6 May \u2013 MAS","date":"May 4, 2020","format":false,"excerpt":"\r Banks and financial institutions are going to provide for such deferments, but it is up for their customers to opt-in for it. The Monetary Authority of Singapore (MAS) announced that individuals may request for the deferment of loan repayments which include commercial and industrial property loans, education, renovation, and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":24689,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/other-property-measures-may-be-eased-after-tdsr-tweaked-report\/","url_meta":{"origin":25289,"position":5},"title":"Other property measures may be eased after TDSR tweaked: report","date":"September 2, 2016","format":false,"excerpt":"\r Changes to the TDSR could be a precursor to further fine-tuning of the property measures. The decision by the Monetary Authority of Singapore (MAS) to revise the refinancing rules under the Total Debt Servicing Ratio (TDSR) framework is seen as a favourable move by Credit Suisse, and a possible\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/25289"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=25289"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/25289\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=25289"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=25289"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=25289"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}