Connect with Us     

NEW LAUNCH PROPERTY - SINGAPORE PROPERTY PORTAL

Connect with Us               

Developer Sales Enquiry: 9789 8770

New Property Dream News Blog

Be Updated Daily with the New Happenings in the Property Market!
"Hit" the 'Subscribe to blog' on your right for Daily Property News Updates!

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Tags
    Tags Displays a list of tags that have been used in the blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Team Blogs
    Team Blogs Find your favorite team blogs here.
  • Login
    Login Login form

Home loan growth could slow as sales weaken: Experts

Posted by on in Uncategorized
  • Font size: Larger Smaller
  • Hits: 1041
  • Subscribe to this entry
  • Print
Home loan growth is expected to slow further this quarter amid weakening residential property sales, analysts said yesterday.
However, prices are likely to remain elevated until at least the middle of next year despite several rounds of property cooling measures in recent years, they said.

The central bank said on Tuesday that home loan growth here had slowed, and the number of borrowers with unreasonably high levels of housing debt had improved after the measures.

It also pointed to high price levels, and said it would step in to ensure stability and sustainability in the property market if necessary.

Analysts said the loan growth slowdown is to be expected in the wake of tough loan curbs imposed in June under a total debt servicing ratio (TDSR) framework. The TDSR stops banks from issuing a loan that pushes a borrower's debt repayments above 60 per cent of his gross monthly income.

The Monetary Authority of Singapore (MAS) said the credit profile of housing loans had improved, and cited a smaller share of new housing loans with a loan-to-value ratio above 70 per cent. This ratio is the proportion of a home's value that a buyer can borrow.

That share has dropped from a high of 77 per cent in the second quarter of 2010 to stabilise at 66 per cent since last year. MAS said the portion of loans in which the homes are worth less than the mortgage - or in negative equity - also remains negligible.

UOB Kay Hian equity analyst Vikrant Pandey said overall home sales volumes could fall about 30 per cent this year from last year.

While the overall price index is expected to rise by up to 2 per cent this year from last year, the index may fall by 5 per cent to 10 per cent next year, he said.

MAS said on Tuesday that "momentum has varied across different market segments". It noted that while private home prices in suburban areas have climbed 2.5 per cent every quarter on average this year, prices on the city fringe and in the city centre have started to show some weakness, turning negative in the third quarter.

Credit from The Straits Times - 5 December 2013
Rate this blog entry:
0
 

 

To all Real Estate Investors and Future Property Owners,

Hello there, this is Sky Chiu, your Singapore Real Estate Advisor, welcome and thank you for reading through to my News Blog! If you would like to be updated with the Property Market Insights, Do Subscribe to my Blog or via RSS on the Top Right of this page!


With 9 years of experience in real estate business, equipped with in-depth property market and new projects knowledge and insights, i committed to give all my valued clients detailed and clearer analysis before they committed to their dream home - whether you are a first time property seller, an experienced property investor, a first time property buyer or a foreigner looking to move into Singapore.


My dedicated services cover my valued clients through the whole process - selling the property at the Highest Possible Price, finding the Right property, negotiating the for the Best Price, to making an Offer and closing the Best Deal. As your Personal Real Estate Consultant, i am here to help you in everything to make the best real estate decision in your life. Your Satisfaction is My First Priority!

 
Phone Support

 

YOUR DEDICATED PROPERTY ADVISOR

We have a group of very experienced property advisors with in-depth property market and new projects knowledge and insights to give our clients a detailed and clearer analysis before they committed to their dream home from us.

We identify our clients' needs, help them to restructure and maximise their property portfolios. We successfully advised and helped our clients on their loan restructuring and financial timeline management on their property investment.

Contact Us for An Non-Obligatory Discussion Today!

 

DIRECT DEVELOPER PRICE

Danish candy sesame snaps sugar plum candy canes sweet donut sugar plum

 

DIRECT DEVELOPER PRICE

Danish candy sesame snaps sugar plum candy canes sweet donut sugar plum

 

NO COMMISSION

Danish candy sesame snaps sugar plum candy canes sweet donut sugar plum