Property cycle stabilises, thanks to cooling measures

Home loan growth decelerated to 0.9 per cent in March, the weakest increase since at least 1992, according to data from the Monetary Authority of Singapore.
Home loan growth decelerated to 0.9 per cent in March, the weakest increase since at least 1992, according to data from the Monetary Authority of Singapore.ST PHOTO: JASMINE CHOONG

A new round of cooling measures were introduced last July to dampen demand in the property market.

Higher additional buyer's stamp duty (ABSD) rates and stricter loan-to-value (LTV) limits on residential property purchases were imposed to dissuade buyers from overextending themselves financially, said National Development Minister Lawrence Wong when the measures were announced.

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A version of this article appeared in the print edition of The Sunday Times on June 09, 2019, with the headline 'Property cycle stabilises, thanks to cooling measures'. Subscribe