17 Nov '11, 1am

Fewer taking up 2nd home loan in wake of cooling measures: Data from the Credit Bureau Singapore (CBS), gathered...

Fewer taking up 2nd home loan in wake of cooling measures: Data from the Credit Bureau Singapore (CBS), gathered...

By Esther Teo, Property Reporter New figures suggest that investors looking to profit from Singapore's residential market are scaling back their purchases in the wake of government cooling measures aimed squarely at speculators. Data from the Credit Bureau Singapore (CBS), gathered from banks, shows a significant dip in the proportion of buyers, who already have an existing loan or loans, taking out new property loans. The figure fell to 33 per cent in the first eight months of this year, down from 38 per cent for all of last year. Related Links NEW HOME LOANS TAKEN Background story DISCOURAGING SPECULATORS Government cooling measures that have affected the property investors' market include: Lower loan-to-value ratio of 60 per cent for those with an existing home loan Higher stamp duties of up to 16 per cent Buyers entering the market with existing loans tend to be invest...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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