THE Government has imposed fresh curbs to cool the property market with the introduction of a new debt servicing framework.
From June 29, a buyer's monthly housing repayments cannot exceed 60 per cent of his income.
The Monetary Authority of Singapore will also refine rules related to the application of the existing loan-to-value (LTV) limits on housing loans.
They are to ensure the effectiveness of the limits to cool investment demand in the housing market.
for full details please go to
http://www.mas.gov.sg/News-and-Publications/Press-Releases/2013/MAS-Introduces-Debt-Servicing-Framework-for-Property-Loans.aspx
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Singaporeans has been complaining like everyday, that we have expensive housing and very high COE prices (expensive to buy cars). With so much pressure from the public we have seen plenty of cooling measures taken in the property sector and also the recent tightening of car loans to bring down COE prices (doesn't seem to be working well).
My personal view is ......
