Housing loans surged 15% in June

Singaporeans seem to be richer as car loans and credit cards also went up 9.5% and 14.8%.

According to monthly statistics released by Monetary Authority of Singapore, housing and bridging loans made by consumers amounted to S$139.7m in June, as compared to last year's S$121.3m. This also registered an increase of 1.43% from May's S$137.7m.

Car loans rose to S$12.6m as compared to 2011's data of S$11.5. Purchases Singaporeans made via credit card hit S$8.1m as compared to last year's S$7.1m. This is also a 3.43% increase from May's amount of S$7.9m.

Loans and advances including bills financing made by domestic banking units also rose 20.9% to S$452.6m in June from last year's S$374.3m. This is also a 1.7 increase from May's amount of S$445m.

Complete data can be accessed at www.mas.gov.sg.