29 Jun '13, 2pm

New home loan rules may cause 15% fall in demand: analyst

New home loan rules may cause 15% fall in demand: analyst

SINGAPORE: Property analysts said the new property loan curbs could cause housing demand to drop by up to 15 per cent over the next few months. On Friday evening, Singapore's central bank introduced a Total Debt Servicing Ratio (TDSR) framework and tighter Loan-to-Value (LTV) limits on housing loans. Analysts said these new rules, which take effect on Saturday, will hit property investors the hardest. Property analysts said the new rules will not significantly affect genuine house hunters, or those looking to upgrade from their HDB flats. By Saturday evening, all 738 units at private residential project J Gateway were snapped up. Over at the Jewel, Buangkok's new condominium, 80 per cent of its 350 units were sold. But it is a different story for property investors looking to buy a second or third property. Mohamed Ismail, CEO of PropNex, said: "Who will be affected? The s...

Full article: http://www.channelnewsasia.com/news/singapore/new-home-lo...

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