30 Jul '14, 3am

#TWN Mortgage-debt-to-GDP ratio third behind UK and Singapore: As domestic property prices skyrocket, the bala...

As domestic property prices skyrocket, the balance of mortgages undertaken by banks has set a new record and propelled Taiwan’s mortgage-debt-to-GDP ratio to over 50%. However, the Central Bank emphasized, even though the domestic mortgage-debt-to-GDP ratio has exceeded 50% in recent years, it is still lower than respective ratios in the U.K. and Singapore . The Central Bank pointed out, the U.K ranked number one in the world in Q1 in terms of domestic mortgage-debt-to-GDP ratio at 80%. Singapore was second at 68%, Taiwan was ranked third at 50%, and South Korea posted 33%. Officials explained, the quantitative easing adopted by numerous countries in Europe, the U.S., and Japan have caused asset price inflation which includes real estate. In recently years, most countries have exhibited relatively high mortgage-debt-to-GDP ratios. Quantitative easing increasing the amount ...

Full article: http://www.taiwannews.com.tw/etn/news_content.php?id=2538404

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