By Mr. Propwise
It’s been less than six months since the Seventh Round of Property Cooling Measures and around four months since the hike in high-end property tax rates in Budget 2013, but the property market has not cooled. Developer sales, in particular, are still going strong while the resale market has been steadily recovering since March based on transaction volumes. Prices also stubbornly refuse to come down – the just-released URA flash 2nd Quarter 2013 quarter-on-quarter increase of 0.8% is an acceleration of 0.6% compared to the previous quarter.
So while it’s not officially a cooling measure, the introduction by the Monetary Authority of Singapore (MAS) of the Total Debt Servicing Ratio (TSDR) framework signals the Government’s continual concern about the exuberant state of the property market and its incremental (though so far mostly unsuccessful) efforts to cool it down.
Introducing the Total Debt Servicing ...
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