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24

Singapore Is Seeing an Unprecedented Mortgage Slowdown

By Tony Seruga

Rising interest rates, latest curbs have slowed home lending
Lack of demand may accelerate decline in city’s house prices

Rising interest rates and the latest round of property curbs have put the brakes on mortgage demand at Singapore’s banks, potentially further dragging down the city’s housing market.

Home-loan growth slowed to 1.9 percent in the first 11 months of 2018, less than half the 4.2 percent increase posted in 2017, the latest Monetary Authority of Singapore data show. Mortgage growth will stay stuck below 2 percent this year, according to Diksha Gera, an analyst at Bloomberg Intelligence…

Singapore Is Seeing an Unprecedented Mortgage Slowdown

Categories : Mortgage

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