Reported 7 months ago
The Central Bank has implemented its sixth wave of real estate credit controls, tightening loan-to-value ratios for second homes in specific areas. Real estate developers and industry professionals have expressed concerns that these measures could harm innocent buyers, including those who have already signed presale agreements and are about to complete transactions, as well as ordinary homebuyers looking to upgrade. Suggestions include exemptions for ongoing transactions to prevent unintended consequences and disruptions. Developers worry that the abrupt implementation could lead to contract disputes and financial pressures for buyers looking to switch properties, affecting their willingness to purchase. While the policy aims to cool the market, experts believe it will have limited impact on dampening housing prices and could distort normal housing demand. Ultimately, the goal is to ensure a healthier and more sustainable real estate market.
Source: YAHOO