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MAS flags loan risks amid rising home supply

Fresh property news selection on November 29. 2019, Friday.

Today's news selection contains the latest real estate related stories. Do you own a real estate/property/finance blog or news site? Send the URL to [email protected] so our editors can use them as sources.


Prospective home buyers should take extra care before taking on a mortgage given the uncertain economy and softening labour market.

The warning from the Monetary Authority of Singapore (MAS) yesterday also pointed to the large supply of unsold units that could weigh on the property sector.

The regulator noted that the number of unsold homes from launched projects - excluding executive condominiums (ECs) - doubled from 2,172 units in the third quarter of last year to 4,377 units in the same three months this year. It added: "This increase will likely be exacerbated in the medium term as developers continue to launch projects on sites arising from the large volume of en bloc sales from 2017 to last year.

"The increase in the unsold inventory could place downward pressure on prices... if unaccompanied by a corresponding rise in demand."

And investors who borrowed at higher mortgage rates, relative to incomes, "could face difficulties meeting the repayments on their investment properties".

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