At a glance:
''  Tenure of residential loans (whether new or re'nanced)capped at 35 years.
''  For tenures exceeding 30 years or loan periods extending beyond age 65:
  '  Individual borrowers with one or more outstanding loans: LTV cap reduced from 60% to 40%
  '  Individual borrowers without outstanding loans: LTV cap reduced from 80% to 60%
''  LTV ratio for non'individual borrowers: reduced from 50% to 40%

MAS's recent cooling measure was expected, given still rising property prices despite cooling measures likes the ABSD and a fast ramp'up of HDB and EC supply. The LTV cap reduction for loan periods extending beyond age 65 is very likely aimed at curbing investment and speculation in property from the wealthier middle'aged. We expect this measure to be impac''ul in the short to medium term, considering Singapore's demographics (59.9% or 3.25mil of the population are aged 35 and above).

Source: AmFraser