Singapore home sales climb as Moody’s cuts outlook for banks

[CityFarmer]

Singapore property still booming...

Singapore home sales climb as Moody’s cuts outlook for banks

Singapore’s June home sales rose for a second month to the highest since a March record as Moody’s Investors Service cut its outlook for the city’s banking system on concern that borrowing costs may climb.

Home sales rose 24% to 1,806 units last month from a revised 1,459 units in May, the Urban Redevelopment Authority said on its website today, the highest since 2,793 units in March. Moody’s said the “rapid” loan growth and rising property prices in the city adds more risk to credit quality.

http://www.theedgesingapore.com/the-dail...banks.html