Reuters SG
Singapore has unveiled a package of measures for the property market, including tightening lending limits for housing loans in response to a rise in interest rates, as well as new steps to moderate demand. The move would ensure "prudent borrowing" and "avoid future difficulties" in servicing home loans, said Singapore's central bank, the Ministry of National Development and the Housing & Development Board in a joint statement late on Thursday. The measures - including lowering the amount of government loans available to buy public housing by 5 percentage points - were announced late on Thursday and came into effect from Friday.