Reported about 1 year ago
In order to curb the frenzy in the housing market, the central bank implemented the sixth wave of selective credit controls, while the Ministry of Finance ordered banks to discuss remedies for the New Youth Housing Policy. Experts believe that even if the housing subsidies under the New Youth Housing Policy shrink, it will not cool down the market significantly, as the attractiveness of 40-year mortgages is too strong. Scholars suggest that the government should consider mechanisms for exiting the New Youth Housing Policy to prevent a potential housing bubble.
Source: YAHOO