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Real estate players brace for market curbs as housing debt climbs: NUS poll

Debt-limiting rules such as loan-to-value and mortgage servicing ratio are seen as more effective than ABSD

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Chong Xin Wei

Chong Xin Wei

Published Tue, Nov 18, 2025 · 04:52 PM
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    • The 5.2% year-on-year growth in household mortgage loans during Q2 is the highest increase in six consecutive quarters, official data shows.
    • The 5.2% year-on-year growth in household mortgage loans during Q2 is the highest increase in six consecutive quarters, official data shows. PHOTO: YEN MENG JIIN, BT

    [SINGAPORE] Expectations of market cooling measures are rising among real estate players, as households continue to take on more housing debt amid falling interest rates, according to a National University of Singapore (NUS) survey.

    “We have observed that households have been taking on more debt for their homes since the third quarter of 2024, coinciding with the US Federal Reserve’s commencement of interest-rate cuts,” said Professor Qian Wenlan, director of the NUS Institute of Real Estate and Urban Studies (Ireus).

    The Fed cut interest rates twice in the second half of 2025 – by 25 basis points each in September and late October – bringing the current range to between 3.75 and 4 per cent.

    Singapore propertySingapore residential propertyCooling measuresCONDOS

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