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Property Cooling Measures
15th Round - 27th April 2023
1. ABSD rates for Singaporeans and SPRs purchasing their first residential property will remain unchanged at 0% and 5% respectively
2. Rates for individuals Singaporeans buying their second property will be raised to 20%, while SPRs ABSD rates will be raised to 30%
3. Rates for individuals Singaporeans buying their third property will be raised by to 25%, while SPRs ABSD rates will be raised to 30%
3. Rates for individuals Singaporeans buying their third property will be raised by to 30%, while SPRs ABSD rates will be raised to 35%
4. Rates for individuals Foreigners buying any residential property will be raised to 60% (except for Foreigners Eligible for ABSD Remission under Free Trade Agreements (FTAs)
5. Corporate entities ABSD rates will be increased to 65%
14th Round - 30th September 2022
1. The Loan-to-Value (LTV) limit for HDB loans will be lowered from 85% to 80%
2. Increase in Total Debt Servicing Ratio (TDSR) and Mortgage Servicing Ratio (MSR) by 0.5%. Bank Loan's interest floor rate is 4% and HDB interest floor. rate is 3%.
3. Private homeowners will need to wait for 15 months after the sale of their home before they can purchase a non-subsidised HDB resale flat. This 15-month wait-out period will be exempted for seniors aged 55 and above who are moving from their private property to a 4-room or smaller resale flat.
13th Round - 16th December 2021
1. ABSD rates for Singaporeans and SPRs purchasing their first residential property will remain unchanged at 0% and 5% respectively
2. Rates for individuals Singaporeans buying their second property will be raised to 17%, while SPRs ABSD rates will be raised to 25%
3. Rates for individuals Singaporeans buying their third property will be raised by to 25%, while SPRs ABSD rates will be raised to 30%
4. Rates for individuals Foreigners buying any residential property will be raised to 30% (except for Foreigners Eligible for ABSD Remission under Free Trade Agreements (FTAs)
5. Corporate entities ABSD rates will be increased to 35%; Non-remittable ABSD on residential developers 5%
6. Total Debt Servicing Ratio (TDSR) capped at 55% for property loans
7. LTV for HDB granted loans reduced to 85%
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 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 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 - 12th 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 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 December 2011
Introducing Additional Buyer’s Stamp Duty (ABSD)
4th Round - 14th 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 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 february 2010
1. Introduction of Seller’s Stamp Duty (SSD)
2. Lowering LTV to 80% for all housing loans )
1st Round - 14th September 2010
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)