Debated in Parliament on 20 Oct 2022.
Mr Chua Kheng Wee Louis asked 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.
Based on latest available data, about 63% of owners of private residential properties had outstanding mortgage loans as of the second quarter of 2022.
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 the second quarter of 2022.
As of August 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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