Sudden Spikes on Singapore Interest Rate Threaten Mortgage Costs
Sudden Spikes on Singapore Interest Rate Threaten Mortgage Costs Home prices have dropped down substantially since the government imposed measures to limit debt servicing costs and decrease mortgage financing defaults, according to a report by Bloomberg. Loan-to-value ratios above 80% for one have decreased substantially – from 17% in 2009, to only 5% in the last quarter of 2014. However, these recent government breakthroughs are threatened. With the possible increase on housing loans and mortgage financing, vulnerable borrowers might just take the hit, otherwise, the economy might slow down. Effect of the decrease in value of the Singapore dollar The depreciation ...
Fitch: Singapore’s Housing Market Continues to Fall
Fitch: Singapore’s Housing Market Continues to Fall According to recent Fitch ratings, Singapore’s home prices for both public and private sectors appear to fall by 3% per annum. Singapore’s property prices have taken a huge turn from its high housing prices and mortgage financing rates three years ago. Cause of price decline in housing market The decline on housing prices is mainly due to the increase of new homes developed each year. The supply of available homes for purchasing and repurchasing has caused huge drop, not only in costs but also in the demand for rentals. To recall, housing prices ...
Decline in Oil Prices, Cause of Singapore’s Declining Currency
Decline in Oil Prices, Cause of Singapore’s Declining Currency Over the past six months, Singapore has been experiencing a decline in currency. As against the US dollar, the Singapore dollar dropped more than 7% (valued at 1.3570) as against the US dollar. This is its lowest point since 2010. Even in the Forex markets, Singapore appears to take a hit than most major currencies. According to Deutsche Bank, this may be closely attributed to the recent tumble on oil prices. Plummeting oil prices For years, inflation and oil prices have had a very direct relationship. As oil prices go ...
Common Business Mistakes for Start-ups
Common Business Mistakes for Start-ups The thought of having your own business is quite stimulating. It does not require reporting to a supervisor, nor working for at least eight hours a day. A business idea can easily be turned into an enterprise as long as it offers something recognisable, innovative or refreshing to the senses. However, as amazing as it sounds, good ideas do not necessarily equate to successful businesses. This is because entrepreneurs fail to see the many pitfalls that exists when opening a new business. 3 Business Mistakes to Avoid Here are the three most common ...
Which Banks Give the Best Housing Loan in Singapore?
Which Banks Give the Best Housing Loan in Singapore? Looking around for the best bank that will offer you a good deal when availing of a housing loan is not only practical, it’s also a prudent move. Investments as big as this ought to be decided carefully, especially since there are several options and arrangements you have to understand. But what should really matter is if these options provided by banks will be able to fit into your own requirements. What Is a Housing Loan for? If your intention of getting a housing loan is so that you could ...
On Being a Responsible Borrower
On Being a Responsible Borrower Thinking of borrowing money and taking out a loan in Singapore? Before doing so, ask yourself these 5 simple questions: “Do I really need to borrow?” “How much can I afford?” “When and how much should I borrow?” “What kind of lender is right for me?” “Which loan is best for my needs?” A loan can fund and safeguard your business and other needs but one must always remember that borrowing money is also an obligation that could impact your business positively or negatively. It can either grow your business or weigh you down. ...