35-year limit set on mortgage loans

35 year limit set on mortgage loans

The above newspaper article was referenced from the Straits Times on the 6th October 2012. This is yet another cooling measure that was introduced into Singapore’s property market to prevent sky-high prices from further escalation. This is in addition to previous cooling measures introduced by the Singapore Government over the past few years to curb speculation. The Singapore property market has appreciated over 100% in the last 5 years with different segments in the market appreciated by different amounts in percentage. Analysts forecast that the latest measure to limit mortgage loans to 35 years will not have much impact as compared to the prior measure that involves the introduction of seller stamp duty for sale of residential property.

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