Property Cooling Measures

12th Round – 6th July 2018

  1. ABSD rates for Singaporeans and SPRs purchasing their first residential property will remain unchanged at 0% and 5% respectively; Rates for individuals buying their second and subsequent properties will be raised by 5%, while that for corporate entities will be increased by 10%; Non-remittable ABSD on residential developers 5%
  2. LTV limits tightened by 5% for all housing loans granted by financial institutions

11th Round – 11th of March 2017

  1. Seller Stamp Duty (SSD) reduced by 4% for each tier. With this change, SSD will only apply to properties sold within 3 years of purchase, down from 4 years previously
  2. TDSR will not apply to mortgage equity withdrawal loans with Loan-to-Value (LTV) ratio equal to or below 50%
  3. Introduced Additional Conveyance Duties (ACD) for Property Holding Equity (PHE). ACD plugs a loophole that exempted companies from paying ABSD and BSD in the past. A PHE is a company whose primary (i.e., > 50%) tangible assets are Singapore residential properties

10th Round – 9th of December 2013

  1. Reduce EC Cancellation Fees from 20% to 5%
  2. Resale Levy for Second-Timer Applicants
  3. Revision of Mortgage Loan Terms

9th Round – 28th August 2013

  1. Bank Loan max HDB tenure reduced from 35 to 30 years
  2. Bank Loan LTV for HDB reduced from 80% to 60% if > 25 to 30 years or loan past age 65

8th Round – 29th June 2013

  1. All borrowers to be mortgagors and no guarantors;
  2. Total Debt Servicing Ratio (TDSR) capped at 60% for property loans for Singapore & Overseas for residential / non-residential properties to individuals or entities set up solely to purchase the property.
  3. For joint borrowings, the income-weighted average age of borrowers to be used.

7th Round – 12 January 2013

  1. ABSD increased for SC, PR & Overseas Buyers
  2. LTV further reduced for 2nd or more property ownership
  3. Min Cash Down Payment: 25% for 2nd or more loans
  4. MSR for HDB Loan: 30% of gross monthly income.
  5. PR HDB flat ownership restrictions
  6. New Executive Condominium rulings for developers
  7. Industrial Properties SSD increased (3 years: 15%; 10%; 5%)

6th Round – 6th of October 2012

Capping all residential loans at 35 years. Loan > 30 years will attract higher LTV, applicable to both private and HDB properties.

5th Round – 8th of December 2011

Introducing Additional Buyer’s Stamp Duty (ABSD)

4th Round – 14th of January 2011

  1. SSD increased (4 years: 16%; 12%; 8%; 4%)
  2. LTV lowered to 50% for non-individuals
  3. LTV lowered from 70% to 60% for 2nd or more housing loans

3rd Round – 30th of August 2010

  1. SSD increased (3 years: 3%; 2%; 1%)
  2. For 2nd or more outstanding housing loans (incl. HDB Loans)
    – Minimum cash payment is increased from 5% to 20%
    – LTV is lowered from 80% to 70%

2nd Round – 20th of February 2010

  1. Introduction of Seller’s Stamp Duty (SSD) 
  2. Lowering LTV to 80% for all housing loans

1st Round – 14th of September 2009

  1. Reinstatement of the Confirmed List for 1H10 GLS
  2. Removal of Interest Absorption Scheme (IAS) and Interest-Only Housing Loans (IOL)
  3. Non-extension of Jan 2009 Budget assistant measures (mainly pertaining to Residential Property Act)