Implementation Of A Maximum LTV of 70%, for 3rd properties and beyond only...
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 Nov 3 2010, 08:14 PM
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#1
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5,379 posts Joined: Jul 2009  
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QUOTE(neuro11 @ Nov 3 2010, 08:02 PM) How does it affect the property market price? I personally think it wont affect the price. Anyone mind to explain further. it will not affect the price, good news for those home stayers, easier to get the choice units as flippers will stay away already...Thanks  |
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Nov 3 2010, 10:27 PM
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#2
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QUOTE(wonghs @ Nov 3 2010, 09:49 PM) This is a wise move by BNM. IMO, property prices will cool down, but unlikely to drop. Those badly affected will be the recent launched projects, especially studio/soho developments (whee there are a lots of flippers)... Many sohos/studio are under commercial title, so it is considered non-residential, BNM policy of LTV 70% applies on 3rd house (which is residential), this is the doubt that need to be clear....Added on November 3, 2010, 10:31 pm QUOTE(wonghs @ Nov 3 2010, 10:02 PM) BUT, Very unlikely this will happen, bank negara may not smart but they are not stupid. I am sure there will be a measurement and control to stop this from happening. Most of the developers are public listed companies and subject to auditing, if they try to be smart and do something funny and against the BNM ruling like creating thousands of credit notes (as rebates to home buyers) they will be in the trouble. I dont think these big names like SP Setia, Mah Sing, I&P, Sime Darby will take risks and play funny with BNM.i am sure the developers & the banks will find ways to solve this:- 1) Developers will further inflated the property prices, then give you say 20% discount, end up you only pay 10%... On the bank side, all commercial banks licence are controlled by BNM, and subject to BNM annual audits.. This post has been edited by cheahcw2003: Nov 3 2010, 10:33 PM |
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