
Primary home sales dropped 30% post-TDSR curbs
12,500 units sold over 9M13.
According to OCBC, authorities implemented its latest set of property cooling measures in Jul-13: a Total Debt Servicing Ratio (TDSR) framework whereby financial institutions will take into account borrowers’ other debt obligations when granting property loans.
Here's more from OCBC:
This set of measures further constricted financing for home buyers, particularly for those with existing property loans.
As a result of these incremental curbs, the number of homes sold in the primary market (excluding EC and landed units) decreased 30% YoY to 12.5k units over 9M13.