The introduction of new cooling measures in December 2021 have caused many to rethink their property purchase plans, largely attributed by increased ABSD rates and tightened TDSR. This has reduced the overall loan quantum for some, which means they might have to think what kind of property they want to buy.
"Someone earning $15,000 per month who intended to take a 25-year loan will now have his eligibility quantum lowered to about $1.65 million, compared with $1.8 million previously," OrangeTee & Tie chief executive Steven Tan said.