Singapore Tightens Housing Loan Limits as Rates Climb

Singapore Tightens Housing Loan Limits as Rates Climb

Bloomberg·2022-09-30 12:21

Singapore is taking steps to tighten housing loan limits after a jump in borrowing costs, a move that may cool the nation’s buoyant property market.

The city-state will raise the interest rate floor used to calculate the total debt servicing ratio and mortgage servicing ratio by half a percentage point for property purchased from Friday, according to a statement by the Monetary Authority of Singapore, the Ministry of National Development and the Housing & Development Board. 

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