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Winter has come for property loans

MAS data shows March mortgage growth slowed to 0.9%; weakest increase in over 20 years

Published Tue, Apr 30, 2019 · 09:50 PM

Singapore

THE property cooling measures are starkly biting, with housing loans growth decelerating to its weakest pace since at least 1992, preliminary data from the Monetary Authority of Singapore (MAS) on Tuesday showed.

Growth in mortgages stood at just 0.9 per cent in March from a year ago to S$203.4 billion, suggesting that new housing loans are being taken up at a slower pace than that of the housing loans paid off by consumers.