CategoriesProperty News

Singapore introduces property cooling measures, with stricter borrowing criteria and tighter limits for HDB loans

SINGAPORE: The Government unveiled a slew of property cooling measures on Thursday (Sep 29), aimed at moderating demand and ensuring prudent borrowing amid rising interest rates.

The measures, which come into effect from Sep 30, include tightening the maximum loan quantum limits. For HDB loans, the loan-to-value (LTV) limit has been lowered from 85 per cent to 80 per cent.

To moderate demand in the HDB resale market, there is now a 15-month wait-out period for private homeowners buying HDB resale flats.

It is a temporary measure which will be reviewed in future depending on overall market conditions and housing demand,”

said HDB, the Monetary Authority of Singapore (MAS) and the Ministry of National Development (MND) in a joint press release issued slightly after 11.40pm on Thursday.

Source: CNA
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