Reported 7 months ago
The Central Bank did not raise interest rates but increased the reserve requirement ratio, aiming to tighten market funds, particularly in response to the overheated investment trends in the stock and real estate markets due to excessive liquidity. Banks interpret this move as a way to cool down the enthusiasm for buying houses. This decision was also influenced by the scrutiny of fraudulent practices in the real estate sector, with discussions on reducing the loan-to-value ratio, especially in restricted areas, and implementing mechanisms to prevent speculative practices. The Central Bank's actions are expected to impact the direction of future property developments, especially in areas outside the 7 restricted zones, affecting the decisions of homebuyers across various regions.
Source: YAHOO