30-08-2013, 03:00 PM
|
|
Sam's RSS Feed Bot - I'm not Human. Don't talk to me.
|
|
|
|
[Superleveraged!] Sinkies' household debt is 77.2% of GDP!
An honorable member of the Coffee Shop Has Just Posted the Following:
Singapore's household debt predicted to hit 77.2% of GDP
 Singapore Business Review – 22 hours ago
Relatively higher than Asian peers.
According to Bank of America Merrill Lynch, it estimates Singapore's household debt at 77.2% of GDP in 1Q, relatively high compared to other Asian counterparts.
Here's more:
The government is taking steps to cool the secondary market for public housing and ensure that households do not over-leverage. In June, the Monetary Authority of Singapore introduced a total debt servicing ratio (TDSR) framework for property loans granted by financial institutions to individuals.
The MAS is mindful of the risks when Singapore interest rates begin normalizing (ie, rising), highlighting that an estimated 5-10% of borrowers have over-leveraged on property purchases.
The Housing Development Board (HDB) has introduced more measures to cool the resale market for HDB flats. The mortgage servicing ratio (MSR) has been reduced to 30% of gross monthly income, down from 35%.
Furthermore, Singapore permanent residents (PR) will now have to wait three years before they are eligible to purchase a resale public flat. Previously, they were able to buy resale flats upon attaining PR status. The measures took effect immediately, after the announcement on Tuesday.
Click here to view the whole thread at www.sammyboy.com.
|
