Singapore MAS Tharman Shanmugaratnam: 62% of Private Properties with Loans & 42% of HDB Properties with Loans in 2022
1st December 2022 | Singapore
Singapore central bank Monetary Authority of Singapore (MAS) Tharman Shanmugaratnam (Senior Minister & Minister in charge of MAS) reply to question on mortgage loans in Singapore (Private Residential & HDB). In 2022, 62% of private residential properties have outstanding mortgage loans & 42% of HDB properties have outstanding mortgage loans. MAS Tharman Shanmugaratnam: “On 25 November 2022, MAS’ stress tests show that most households are financially resilient to income and interest rate shocks, although some households would be vulnerable under a more stressed economic environment. As interest rates continue to rise, all households should prudently manage their borrowings, especially when considering new mortgage loans.”
“ 62% of Private Properties with Loans & 42% of HDB Properties with Loans in 2022 “
Ads & Announcements MAS Tharman Shanmugaratnam on Private Residential Properties & HDB with Outstanding Mortgage Loans Chairman Monetary Authority of Singapore Board, Tharman Shanmugaratnam
Reply to Parliamentary Question on on Private Residential Properties & HDB with Outstanding Mortgage Loans
Date: For Parliament Sitting on 29 November 2022
Mr Chua Kheng Wee Louis, MP, Sengkang GRC
To ask the Prime Minister how has the share of private residential properties and HDB flats with outstanding mortgage loans changed since the 2008 global financial crisis.
Answer by Mr Tharman Shanmugaratnam, Senior Minister and Minister in charge of MAS:
1. The share of private residential property owners with outstanding mortgage loans increased from 54% to 62% between 2011 and 2013, before stabilising since. It was 62% in 2022. In comparison, those HDB flat owners with outstanding mortgage loans has decreased from 57% to 42% from 2011 to 2022.
2. As reported in its Financial Stability Review published on 25 November, MAS’ stress tests show that most households are financially resilient to income and interest rate shocks, although some households would be vulnerable under a more stressed economic environment. As interest rates continue to rise, all households should prudently manage their borrowings, especially when considering new mortgage loans.2021 Data Release 2020 List of Private Banks in Hong Kong2020 List of Private Banks in Singapore 2020 Top 10 Largest Family Office2020 Top 10 Largest Multi-Family Offices2020 Report: Hong Kong Private Banks & Asset Mgmt - $4.49 Trillion2020 Report: Singapore Asset Mgmt - $3.48 Trillion AUM Register Below Latest 2022 data & reports, insights & news Every Saturday & Sunday 2 pm Direct to your inbox Save 2 to 8 hours per week. Organised for success For Investors | Professionals | Executives New to Caproasia? Join 10,000 + Learn More | Sign Up Today Caproasia.com | Caproasia Access 2022 Events | TFC - Find Services Grow Business | Contact Us For CEOs, Heads, Senior Management, Market Heads, Desk Heads, Financial Professionals, Investment Managers, Asset Managers, Fund Managers, Hedge Funds, Boutique Funds, Analysts, Advisors, Wealth Managers, Private Bankers, Family Offices, Investment Bankers, Private Equity, Institutional Investors, Professional Investors Get Ahead in 60 Seconds. Join 10,000 + Save 2 to 8 hours weekly. Organised for Success. Subscribe / Sign Up / Contact Us
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Originally posted on: https://www.caproasia.com/2022/12/01/singapore-mas-tharman-shanmugaratnam-62-of-private-properties-with-loans-42-of-hdb-properties-with-loans-in-2022/?utm_source=rss&utm_medium=rss&utm_campaign=singapore-mas-tharman-shanmugaratnam-62-of-private-properties-with-loans-42-of-hdb-properties-with-loans-in-2022