{"id":1665557,"date":"2022-09-29T22:50:53","date_gmt":"2022-09-30T02:50:53","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1665557"},"modified":"2022-09-29T22:51:24","modified_gmt":"2022-09-30T02:51:24","slug":"singapore-tightens-property-market-curbs-to-combat-rising-rates-demand","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/singapore-tightens-property-market-curbs-to-combat-rising-rates-demand\/","title":{"rendered":"Singapore tightens property market curbs to combat rising rates, demand"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsingapore-tightens-property-market-curbs-to-combat-rising-rates-demand%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1665557&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Shubham Kalia<\/p>\n<p>(Reuters) -Singapore unveiled a package of measures for the property market, including tightening the maximum loan quantum limits for housing loans in response to a rise in interest rates, and new steps to moderate demand.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>The tightening of maximum loan quantum limits would ensure \u201cprudent borrowing\u201d and \u201cavoid future difficulties\u201d in servicing home loans, Singapore\u2019s central bank, the Ministry of National Development and the Housing &#038; Development Board said in a joint statement late on Thursday.<\/p>\n<p>The measures will come into effect from Sept. 30.<\/p>\n<p>Many central banks across the world have increased interest rates recently to fight inflation.<\/p>\n<p>Singapore\u2019s monthly inflation rate has remained elevated in recent months, and economists widely expect the central bank to tighten policy at its scheduled review next month.<\/p>\n<p>\u201cMarket interest rates have risen significantly. They are likely to increase further in future, which will affect borrowing costs for home purchases,\u201d the authorities said in Thursday\u2019s statement. \u201cWe urge households to exercise prudence before taking up any new loans, and be sure of their debt-servicing ability before making long-term financial commitments.\u201d <\/p>\n<p>Prices of private and public housing apartments in Singapore, where real estate is viewed as a safe-haven investment, have been rising as COVID-related construction delays created a shortage of new units.<\/p>\n<p>Singapore said it will also introduce measures to moderate its property market, including a 15-month wait-out period for current and ex-private residential property owners to buy a non-subsidised resale flat from the country\u2019s Housing Board.<\/p>\n<p>The wait-out period will not apply to citizens over 55 who are moving from their private property to a four-room or smaller resale flat from the Housing Board.<\/p>\n<p>The Southeast Asian city-state\u2019s public housing system \u2013 which sells government-built apartment units directly to citizens on a 99-year lease \u2013 has led to over 80% of Singaporeans owning their homes, one of the world\u2019s highest rates.<\/p>\n<p> (Reporting by Shubham Kalia in Bengaluru; Editing by Anshuman Daga, Alex Richardson and Leslie Adler)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/singapore-tightens-property-market\/attachment\/file-photo-view-of-private-residential-properties-in-singapore\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8S10J-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8S10J-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Shubham Kalia (Reuters) -Singapore unveiled a package of measures for the property market, including tightening the maximum loan quantum limits for housing loans in response to a rise in<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1665557","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1665557","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1665557"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1665557\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1665557"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1665557"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1665557"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}