Penrose by CDL

Daily property news 8 Apr 2020

BUSINESSES that apply to defer payments for their secured property loans, as well as property owners doing so for residential mortgages, will not be subject to the total debt servicing ratio (TDSR), the Monetary Authority of Singapore (MAS) said on Tuesday.

Businesses that have taken up mortgage equity withdrawal loans secured on residential or non-residential properties are also not subject to property curbs such as TDSR and loan-to-value (LTV) limits.

The TDSR sets limits on how much property buyers can borrow against their monthly income.

CHINESE tycoon Tong Jinquan has sold a substantial stake in IReit Global to the real estate investment trust’s key unitholders and strategic partners, Tikehau Capital and City Developments (CDL), for S$64 million.