{"id":94279,"date":"2018-07-20T09:52:52","date_gmt":"2018-07-20T02:52:52","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-cooling-measures-to-impact-banks-mortgage-business-says-dbs\/"},"modified":"2018-07-20T10:02:52","modified_gmt":"2018-07-20T03:02:52","slug":"new-cooling-measures-to-impact-banks-mortgage-business-says-dbs","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-cooling-measures-to-impact-banks-mortgage-business-says-dbs\/","title":{"rendered":"New cooling measures to impact banks\u2019 mortgage business, says DBS"},"content":{"rendered":"


\nSingapore\u2019s mortgage market is expected to soften in the long term due to the new cooling measures in the private residential market, according to the city-state\u2019s largest bank, DBS Group Holdings.
\nNevertheless, the large number of homes purchased a few hours before the curbs took effect will give a temporary stimulus to their home lending business, including that of DBS.
\nMore:\u00a0New property curbs to erode market confidence: REDAS
\nTo cope with the new curbs, developers are expected to slash their unit prices to entice home buyers, mitigating the impact of the new cooling measures on banks\u2019 mortgage business.
\nEarlier this week, TODAYonline reported that around 1,000 units were snapped up at Park Colonial in Woodleigh, Riverfront Residences at Hougang and Stirling Residences in Queenstown in less than five hours before the clock struck midnight on Thursday night (5 July).
\n\u201cThese people who bought 1,000 units will be looking for mortgage financing,\u201d DBS Singapore country head Sim S Lim told Bloomberg on Thursday (19 July).
\nHe anticipates \u201ca slight ramp-up in mortgage financing requirements\u201d over the next one or two months due to the buying rush.
\nAlthough the new property cooling measures has a negative effect on the mortgage business of DBS, Lim believes that this will be alleviated by the nature of their clients, which comprise first-time home buyers and those purchasing HDB flats.
\nNotably, buyers of HDB flats are not affected by the new curbs. While first-time buyers of private homes remain exempted from the additional buyer\u2019s stamp duty (ABSD), their loan-to-value (LTV) ratios have been reduced by five percentage points due to the new curbs.
\nAs of 31 March 2018, DBS had $73.5 billion of housing loans in its books, accounting for 31 percent of the market share and up 14 percent from the same period in 2017.
\nLooking to buy a condo?: Check out our new launches.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…New cooling measures to impact banks\u2019 mortgage business, says DBS<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Singapore\u2019s mortgage market is expected to soften in the long term due to the new...<\/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-94279","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-owD","jetpack-related-posts":[{"id":95567,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-home-prices-to-drop-by-up-to-10-following-new-curbs\/","url_meta":{"origin":94279,"position":0},"title":"Singapore home prices to drop by up to 10% following new curbs?","date":"August 7, 2018","format":false,"excerpt":"\r Local banks reckon home prices will fall following the latest round of cooling measures. Singapore banks expect home prices to fall along with home loan activity, following the introduction by the government of its latest round of property cooling measures. UOB chief Wee Ee Cheong revealed that his \u201cgut\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":102872,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-cooling-measures-impact-bigger-than-expected\/","url_meta":{"origin":94279,"position":1},"title":"Property cooling measures\u2019 impact bigger than expected","date":"January 11, 2019","format":false,"excerpt":"\r DBS bank\u2019s property loans segment has dropped by 40 to 50 percent since the latest cooling measures were announced. The government\u2019s surprise property cooling measures in July 2018 had \u201cmore bite\u201d than anticipated, with DBS bank\u2019s property loans segment dropping by 40 to 50 percent \u2013 way below the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":103306,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-mortgage-demand-significantly-dented\/","url_meta":{"origin":94279,"position":2},"title":"Singapore mortgage demand significantly dented","date":"January 25, 2019","format":false,"excerpt":"\r Rising interest rates and new property cooling measures have significantly dented mortgage demand. Rising interest rates and the government\u2019s surprise property cooling measures in July have significantly dented mortgage demand at Singapore\u2019s banks, threatening to further accelerate the decline in house prices, reported Bloomberg. In the first 11 months\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":95315,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-related-loans-to-fall-by-1b-in-2h-2018-dbs\/","url_meta":{"origin":94279,"position":3},"title":"Property-related loans to fall by $1b in 2H 2018: DBS","date":"August 3, 2018","format":false,"excerpt":"\r Mortgages to home buyers and loans to property developers are expected to decline following the new property cooling measures. Due to the new property curbs, DBS Group Holdings expects its mortgage business to grow by 6.0 to 7.0 percent for the whole of 2018, down from its initial forecast\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":109478,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-recovering-housing-market-a-boon-for-dbs\/","url_meta":{"origin":94279,"position":4},"title":"Singapore\u2019s recovering housing market a boon for DBS","date":"July 30, 2019","format":false,"excerpt":"\r DBS cited mortgage lending as a bright spot in their recently released second-quarter earnings as the b Mortgage-loan applications rose 60 per cent from the first three months of 2019. This is due to the resurging housing market.\u00a0 Benefitting from the city-state\u2019s resurging housing market, Singapore\u2019s biggest bank DBS\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":119988,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ministerial-comments-rising-prices-spark-talk-of-additional-property-cooling-measures\/","url_meta":{"origin":94279,"position":5},"title":"Ministerial comments, rising prices spark talk of additional property cooling measures","date":"January 20, 2021","format":false,"excerpt":"\r Ministerial comments, rising prices spark talk of additional property cooling measuresMinister Desmond Lee\u2019s urge for Singaporeans to exercise prudence when acquiring property\u00a0and the recent rise in\u00a0private home prices have experts\u00a0believing them as signals for another round of cooling measures. Analysts consider recent ministerial remarks on the property market as\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/01\/Residential-apartments-in-Singapore-v2.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/94279"}],"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=94279"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/94279\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=94279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=94279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=94279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}