Singapore introduces property cooling measures, with stricter borrowing criteria and tighter limits for HDB loans
The objective of property cooling measures that were introduced on 30th September 2022 is to promote sustainable conditions in property market. To moderate demand in the HDB resale market, there is now a 15-month wait-out period for private home owners buying HDB resale flats.
The mortgage interest rates are expected to rise further in future, along with US interest rates, to ensure prudent borrowing and avoid future difficulties in servicing home loans, the Government will tighten the maximum loan quantum limits for housing loans.
Meanwhile, the loan-to-value (LTV) limit for HDB loans will be lowered from 85 percent to 80 percent.
Source: Channel News Asia
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