Singapore Implement New Curbs On Long Mortgages. Singapore introduced new measures to cool the property market and set 35 year limit on home loans. Singapore (I- Newswire) October 15, 2012 - Singapore introduced new measures to cool the property market and set new curbs of 35 year limit on home loans. In a move that surprised the Singapore property market, the Monetary Authority of Singapore (MAS) set a new restriction on all home loans to a maximum of 35 years. Home buyers taking a loan that lasts more than 30 years, or extends past their retirement age of 65, will have to put down more cash up front. If its the buyer's first mortgage, the loan limit will now be up to 60 per cent of the property's value. If this the second or more property loan, the loan limit is up to 40 per cent of the property's value. This means buyers have to fork out more cash. This move is expected to affect property buyers but leave the young first time home buyers under the age of 30 unaffected. MAS said such a move is necessary especially after the United State's latest round of quantitative easing (QE3) to curb the upward pressure on property prices. The move will curb the prices from spiking beyond sustainable levels and destabilising Singapore's financial system. The new changes will affect the older buyers more, especially those with more than one property. Prices of homes are not expected to adjust drastically in reaction to this new measure. But some buyers may be shut out of the market and transaction volume may reflect the cooling of demand. Prices may moderate in growth. Investors looking at other Singapore property, are welcome to visit http:// www.BuyRentSingapore.Com or http:// www.BuyRentSingaporeProperty.Com for new launch Singapore properties. BuyRentSingapore.Com is a Singapore property listing website.
Additional Resources Additional Images
About Singapore Property: BuyRentSingapore.com is dedicated in providing the latest residential launches, Developer's sales, new launches, resale, TOP projects and rental of properties in Singapore. We help clients in identifying sites, locations and recommendation of development mix and sizes. We also help clients identify specific market niches for the project and careful evaluation of market conditions; recommend the best solution for their property needs. Most importantly, we specialized in selling many successful Huttons Projects in Singapore. If you are looking for opportunities in Singapore's latest residential launches, Developer's Sales, investment properties and good properties, we will be delighted to serve you as licensed, certified & professional property consultants in Singapore. Company Contact Information: Singapore Property Kenneth Email:firstname.lastname@example.org Phone: 97838034 Published in: Business Tags: singapore property new launch singapore Singapore Property Listing Published on: October 15, 2012 Original Source: Singapore Implement New Curbs On Long Mortgages.