No More Deferred Payment

Wef today, the Government has withdrawn the popular deferred payment schemes for all uncompleted properties, due to strong economic and property mkt conditions. The scheme was first introduced in Oct97 when the economy was in recession.

* URA-DPS Withdrawal , AsiaOne-Pty Mkt *

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Though not unexpected, but still came in as a little surprise to me.
The mkt gonna cool down further & speculators will hv to think twice or even thrice before jumping into the water.
Guess this also helps to reduce Bank's risks. In 1-3yrs time, when projects obtain their TOPs, many will hv to service their loans. Who knows what will happen then.