This page aims at giving an overview of the current regulations regarding residential property transactions in Singapore, result of the 8 rounds of cooling measures made by the authorities since 2009.
This is some blog description about this site
This page aims at giving an overview of the current regulations regarding residential property transactions in Singapore, result of the 8 rounds of cooling measures made by the authorities since 2009.
Here is the full list of the 8 recent property cooling measures.
Suffice to say, the numerous property cooling regulations imposed by MND, URA, MAS, IRAS have done much to curb the speculative fever and more.
Background of Singapore's housing woes.
Good deals for owner occupiers
With property prices finally losing steam, home buyers may be wondering whether it is the right time to take the plunge.
Both the private and public housing markets have begun to slow down, as sales volumes tumble and prices turn downwards.
Analysts expect the property market to sink further this year owing to a triple whammy of weak demand, an expected rise in interest rates and looming oversupply.
Singapore said Friday that measures it had implemented to cool down the property market have succeeded but it was "too early" to relax them.
On Feb 10, 2014, the Monetary Authority of Singapore (MAS) announced some exemptions that would please owners having difficulties refinancing older properties due to the TDSR measures. In their press release entitled, "MAS Broadens Exemption from TDSR Threshold for Refinancing of Owner-Occupied Residential Properties Purchased before the Implementation of TDSR Rules", it was announced that some exemptions will be allowed for owner occupied and investment properties.
The Monetary Authority of Singapore (MAS) has widened the existing exemptions from the Total Debt Servicing Ratio (TDSR) to cover the refinancing of loans for owner-occupied properties that were bought before the measure was introduced last year.
In a statement, the MAS said it had received feedback from borrowers who have faced challenges refinancing such loans.
Under the revised rules, a borrower who bought a residential property before the TDSR rules were introduced will be exempted from the TDSR threshold as long as the buyer occupies the home that is being refinanced.