QUESTION NO 2290

NOTICE PAPER 1450 OF 2022

FOR WRITTEN ANSWER

 

Date: For Parliament Sitting on 20 October 2022

Name and Constituency of Member of Parliament

Mr Chua Kheng Wee Louis, MP, Sengkang GRC

Question:

To ask the Prime Minister of the current stock of private residential properties (a) what is the percentage of properties that have an outstanding mortgage loan; (b) what is the average Loan-To-Value ratio of such mortgage loans; and (c) what is the percentage of such mortgage loans that are used to finance (i) owner-occupied properties and (ii) investment properties respectively.

Answer by Mr Tharman Shanmugaratnam, Senior Minister and Minister in charge of MAS:

1. Based on latest available data, about 63% of owners of private residential properties had outstanding mortgage loans as of Q2 2022.
 
2. The average Loan-to-Value (LTV) ratio of outstanding mortgage loans on private residential properties extended by financial institutions was at 44.3% as of Q2 2022.

3. As of Aug 2022, approximately 75% of outstanding mortgage loans on private residential properties were for the financing of owner-occupied properties and the remaining 25% were for investment properties. 

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