Home loans need close tracking as GDP dip worsens household debt-to-GDP ratio: MAS
Cooling measures have reduced outstanding household debt, but Q3 household debt-to-GDP ratio hits 67.1% to reverse pre-pandemic decline
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Singapore
THERE is "close monitoring" required of the housing market, and in particular, mortgages from more vulnerable households, amid an uneven recovery in the labour market.
This comes as household-debt-to-GDP, while resilient, has reversed from its pre-pandemic decline due to a sharply lower gross domestic product (GDP) this year, said the Monetary Authority of Singapore (MAS) in its annual Financial Stability Review released on Tuesday.
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