The most significant event this year was the implementation of the total debt servicing ratio (TDSR) framework, whose impact cut across the private residential, as well as the strata-titled retail, office and industrial sectors. The TDSR, which came into effect on 2013 June 29, required that lenders consider a borrower's total debt obligations (including other mortgages and loans for cars) before granting a new home loan. The total debt obligations ceiling was set at 60 per cent of a buyer's gross monthly income.
Singapore government tried to meet the various housing needs of different groups - initiatives included the unprecedented move of allowing eligible singles to buy new two-room HDB flats in non-mature estates, and the pilot launch of Three-Generation (3Gen) flats in Yishun catering to multi-generation families.
Singapore government tried to meet the various housing needs of different groups - initiatives included the unprecedented move of allowing eligible singles to buy new two-room HDB flats in non-mature estates, and the pilot launch of Three-Generation (3Gen) flats in Yishun catering to multi-generation families.
