SINGAPORE: Singapore’s central bank has introduced rules to ensure that a property buyer’s monthly payments do not exceed 60% of his income, a move aimed at cooling the housing market and ensuring investors are not caught out by a rise in interest rates.
“The TDSR (total debt servicing ratio) will apply to loans for the purchase of all types of property, loans secured on property, and the refinancing of all such loans,” the Monetary Authority of Singapore (MAS) said in a statement.
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