Banks are tightening their financing to property investment deals as global credit squeeze has raised awareness of risks, and several mega projects here have left less liquidity for others. S'pore law also caps banks' exposure to property-related loans (excl owner-occupied properties) to 35% of their total loans.
Given a softer property mkt now, banks are giving smaller loans to buffer against a fall in property values, and smaller or new players may find it harder to get loans for their property development.
* AsiaOne-Tightening *
Saturday, March 1, 2008
Tightened Credit
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