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.
Mr Tharman Shanmugaratnam (for the Prime Minister): 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.
Prime Minister’s Office
20 October 2022