Residential

Latest CBS figures reflects effective cooling measures

58.3% of the 15,410 Singaporeans/PRs granted private home mortgages (including refinancing cases) in Q1 2012 did not have any outstanding home loans either for a HDB flat or private residential property, compared to the 56.4% and 53% for the whole of 2011 and 2010 respectively. This may be due to effects of ABSD in deterring property investment.

However, the data may not be very accurate since some banks classify ECs as private homes while others classify it as HDB flats, which are excluded in the analysis. Also, as some borrowers could be joint applicants for a single loan, the total number of private home mortgages granted in Q1 2012 to Singaporeans and PRs is 10,741 but if individual applicants were looked at, the number would be a higher 15,410. Furthermore, the data includes both both new home loan and refinancing ...