Reported about 1 year ago
Facing criticism that the New Green Annuity Policy is the culprit behind housing speculation, the Ministry of Finance stated that there are many factors affecting the housing market and shouldn't blame Green Annuity loans for speculation. However, with chaos in the market, the Central Bank intervened with the 6th round of credit controls, lowering the loan-to-value ratio for the second home purchase. The impact of this move might affect delivery and exchange households. While the restrictions primarily target speculators, impacts on first-time homebuyers are minimal, causing concerns for those buying presale or about to exchange homes.
Source: YAHOO