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The government's austerity measures on home loan eligibility have hit Singapore since the last tenor cooling move on home loans. Instead of stopping at the market as expected, this creates a rush to take action while the revenue is still eligible.  By reading this article you can get the best information about Pullman residences rates in Singapore.

The cooling measures affect home lending in Singapore

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What is truly surprising is the paradigm shift in the thinking of potential home buyers trying to stay ahead of cooling measures and focusing on how to continue this market even when they face difficulties.

Changes adopted on 28 August 2013 were implemented immediately. The maximum loan term for an HDB home is reduced to 25 instead of 30 years, while the mortgage service limit is 30 percent of a home buyer's gross monthly income versus the previous 35 percent. Also, the maximum mandate for new home loans and refinancing facilities has been reduced from 35 to 30 years.

Changes are not limited to the above. PR (permanent residents) is also affected because they now have to wait three years after obtaining permanent residence status to buy an apartment, unlike before when they were able to buy a house immediately after obtaining the status.

Several cyclical real estate studies have shown that Singapore tends to experience late upgrades. Based on that strategy, you can see if your property can be controlled with possible adjustments. Some homebuyers may pick the lowest point while others are at the current stage.

The most important factor in buying a home is a very obvious home loan. However, a bad decision in this department can affect the positive position you have achieved so far.

The cooling measures affect home lending in Singapore