Analyst predicts further tightening in Singapore property market

The 60% threshold is just the beginning.

According to Nomura, whilst the latest measure by itself may appear to lack bite, the accumulated weight of the strew of property measures to date demonstrates the continued stance of the authorities to manage down home price increases. 

MAS has stated that the threshold is set at 60% to allow both FIs and borrowers to “familiarise themselves with the framework."

Here's more from Nomura:

It will “monitor and review the 60% threshold over time, with a view to further encourage financial prudence.”

The statement itself appears to suggest that the 60% threshold is likely to persist beyond the short-term and that there is room for further tightening.