SINGAPORE - Credit Bureau of Singapore has launched a new property loan index aiming to track loan delinquencies and demand for housing credit

Property market watchers will now have more options to read trends in the property sector and uncover details such as credit demand, loans approval and credit delinquency.

Currently the index shows a dropping trend for for housing credit over the past 4 months. of around to a figure down to just 38 percent, or 13,870 (August)

This could only lead to property prices tapering off most likely in the coming months.

Currently bank loan approvals are at a positive 22 percent above baseline, just behind credit demand at positive 59 percent, showing Singapore borrowers are keeping a leash on housing mortgages.

The Credit Bureau of Singapore latest figures also show mortgagees with more than one property loan which jumped to 38,520

The index is a monthly update