Singapore's banks face muted growth in prized mortgages this year

Singapore banks' mortgages may end 2024 with flat to low-single-digit growth, say Bloomberg Intelligence analysts Rena Kwok and Ken Foong. 

“The lenders will likely be selective in pricing to defend market share despite mortgages' good risk-return profile,” say Kwok and Foong in a Jan 10 report. “Defaults are low with DBS's (SGX:D05)  mortgages the least risky. Demand for homes looks healthy due to their inflation-hedging ability and positive supply-demand dynamics.”