Seems like the banks are enhancing their ‘risk management’ for this Pandemic affected economy.
This is not unexpected as reports from Bloomberg has also mentioned that “Singapore Banks Post Profit Declines on Mounting Provisions”.
The advocacy of detailed and robust financial planning is of the utmost importance when you are planning to purchase your home or property investment.
So far, the data from the property sector may seem resilient. However, we are in a unprecedented territory of a Pandemic, you need a trusted advisors in this area to plan for this long haul. “Buying a property is a long term commitment…”, especially when you need a higher gearing for your purchase.
Feel free to contact Trusted Advisor for a meaningful conversation to what is involved in a detailed planning. Beside understanding your financial situation, it will be objective data-driven on the fair pricing at your targeted purchase.