Before you purchase your first residential real estate in Singapore, you might want to find out a little bit more before you sign on the dotted line. In the past couple of years the Singapore real estate scene has seen drastic changes to the regulations governing transactions in residential property. This was mainly due to the rapid surge in property prices during this period, which caused a major concern to home buyers in the market. Listed below are the current regulations in place.

* Loans

In order to dissuade buyers one north gateway showflat speculating in property, the Government has reduced the initial 90% Loan-To-Value (LTV) to the current 80% LTV. However if the buyer has an existing housing loan in place, the next loan used for a residential property will be capped at 60% LTV. This measure severely cripples the speculator who is merely out to make a quick buck from leveraging on the banks.

Posted by: cramer john at 01:26 PM | No Comments | Add Comment
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