Hey, it's Friday. TGIF! Wait, it's Friday again. Will the government announce any new measures today to cool the property market? More than once, Friday has being picked for reporting such 'exciting' news. New policies mentioned today are likely to be made effective tomorrow, before everyone have a 'nice' weekend. For many who have a stake in the industry – be it … [Read more...]
The fear of losing out (part I: cooling measures)
In his book Secrets of the Millionaire Mind, there’s an interesting line from the author T. Harv Eker: Rich people play the money game to win. Poor people play the money game to not lose. I've taken the liberty to change the last few words to describe the Singapore property scene: The pros play the money game to win. The amateurs play the money game not to lose … [Read more...]
New property cooling measures on loan restrictions
A new round of government measures to cool the property market was announced on Friday: 1) With effect from 6 October 2012, mortgage tenures of HDB flats and private properties are capped at 35 years. 2) Loans longer than 30 years have a borrowing limit of 60 percent of the property price. 3) If the >30-year-loan goes beyond the borrower’s retirement age of 65, and … [Read more...]