According to Bank Negara statistics, outstanding loans growth for the banking sector grew 11.9% to RM841.74bil in July year-on-year. Mortgages make up the largest portion with some 26.8% of the total loans outstanding as at end July.
The move is aimed at curbing speculative property transactions in a bid to contain escalating property prices.
For those who buying the 1st and 2nd property still valid for 90% loan financing, 70% loan financing effect for 3rd property home buyers. However, for property investors, may think twice about investing in properties if they have to cough up more money.
