Likewise, they are more cautious with foreigners buying high-end apartments.

To safeguard themselves, the banks would insist that they use their own in-house valuer or reputable certified valuers.

Owners of high-end homes asking for a loan would need to prove their repayment ability and the purpose of the purchase or risk having their applications rejected.

The banks also avoid putting all the eggs in one basket by avoid ‘any concentration’ in a single housing project or a certain district so as to average the odds. (5 Sept)

Edited by Sam Gian – Independent Real Estate Sale Consultant