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Potential homebuyers spooked by rising interest rates
Unaffordable downpayments are also deterrents.
Economic uncertainty and the prospect of rising interest rates are the top obstacles for potential property buyers in Singapore, according to iProperty's Asia Property Market Sentiment Report for 1H 2015.
Almost three out of ten or 28% of respondents cited these factors as their main deterrent to getting home loans, while 23% of those polled lamented that unaffordable downpayments are keeping them from buying properties.
Another 16% cited insufficient incomes as the obstacle to buying properties, while 14% had difficulty qualifying for loans.
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