New Home Loan Cap In Singapore Insures Against The Unexpected
New home loan curbs on long mortgages in Singapore property market, made sure that buyers can financially survive any unexpected outcome from their investment.
Singapore (I-Newswire) October 18, 2012 - The new restrictions on home loans has put home the message to potential home buyers to exercise caution and not be carried away in their dream of owning multiple units for passive rental income.
It is fairly common Singapore dream to own two or more properties, one to live in and the other to draw a passive rental income. Many Singaporeans believed that if you can hold the properties, you will surely win in the Singapore property market. In 2010, 38 per cent of those who took a new home loan already had an existing home loan. There are now more than 55,701 people with two or more home loans from baks. Of these 55,701 borrowers, one in five own an HDB flat.
The new home loan restrictions by the Monetary Authority of Singapore (MAS) has been designed to make holding properties harder and prevent too many Singaporeans from becoming double or more property owner. There is a fear from the regulator that many who aspire to the dream are simply dreaming too big.
But there property investors who felt that MAS has come down too hard on Singapore property market. Many property investors from Singapore argued that rental income from second property is the most accessible option of financial comfort for average Singaporean. It is the simplest thing for most people to understand. Many Singaporeans do not want to slog their whole life for money, And there is a perceived lack of stable, alternative investment vehicles for the average Singaporeans. People have tried stocks, shares, gold, commodities and other alternative investments and probably got burnt or felt they cannot take the excitement in these markets anymore.
Singapore property market is famed worldwide as a stable and buoyant market. With the continued influx of foreigners and increasing population, real estate still seems like a good bet for the future despite the cooling measures, loan restriction and curbs imposed on the market. The fundamentals remain strong and sustainable.
Investors looking at other Singapore property, are welcome to visit http://www.BuyRentSingapore.Com or http://www.BuyRentSingaporeProperty.Com for new launch Singapore properties. BuyRentSingapore.Com is a Singapore property listing website.
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Published On:October 18, 2012
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