The Monetary Authority of Singapore (MAS) today (October 5) unveiled new restrictions on the tenure of loans granted by financial institutions for the purchase of residential properties in a bid to cool the Lion State's property markets.
A tenure limit of 35 years will be applied to both private properties and public housing – the latter was estimated to cover 82% of the population by the Asian Development Bank in 2011 – and will take effect from October 6.
The restrictions are the central bank'
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