Reuters, 14 Sep 2009
SINGAPORE, Sept 14 (Reuters) - Singapore will release more land for development and make it harder for home buyers to defer payments, steps aimed at curbing speculation in the housing market and that drove down property stocks on Monday.
With immediate effect, banks and developers will not be allowed to offer loans on homes under construction where the borrower need only put down as little as a 5 percent cash downpayment and defer repayment of the principal until after building is completed.
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