A Housing and Development Board (HDB) executive maisonette in Bishan sold for $980,000. In the third quarter from the April-June, Singapore private home prices rose 0.5%. Resale prices of HDB apartments rose again by 2% quarter-on-quarter. All these are signs that the Singapore government’s cooling measures had failed miserably. So what does the Singapore government do?
It set new cooling measures! From Oct 6, Singaporeans can only have a max tenure of 35
Uh? That’s my reaction when
I heard it on the news. I mean the average loan for residential property is
between 25 to 30 years. So can someone please tell me how does a max tenure of
35 years help cool the property market?
The biggest reasons for rising property prices are
increased immigration, low interest rates and rapid credit growth. Since when did
the length of the loan arrangement became a major factor? If the Singapore government says that this new
rule will cool the market, they are either wrong or they are not serious in lowering