Latest and most comprehensive property cooling measures and policies changes

14 Sept 2009

  1. Reinstatement of the Confirmed Government Land Sale List

  2. Removal of the Interest Absorption Scheme (IAS) and Interest-Only Housing Loans (IOL)

19 Feb  2010

  1. Introducing a Seller’s Stamp Duty (SSD) – 3%-$5400 on all residential properties and residential lands within 1 year from the date of purchase; and

  2. Lowering the Loan-to-Value (LTV) limit to 80% for all housing loans

30 Aug  2010

  1. Increase the holding period for imposition of Seller’s Stamp Duty (SSD) from the current one year to three years. Staggered SSD Sold within 1 year (3%-5400), 2 year (2/3 of SSD) and 3 year (1/3 of SSD)

  2. Those with more than 1 outstanding residential loan, Increase the minimum cash payment from 5% to 10% and  Loan-to-Value (LTV) limit from 80% to 70%.

  3. For HDB,

  • Increase min occupation period (MOP) from 3 years to 5 years

  • Disallowed concurrent ownership of HDB and private properties with MOP.

13 Jan 2011

  1. Increase SSD from 3 to 4 years

  2. Raise the SSD rates to 16% (1st ), 12% (2nd), 8% (3rd) and 4% (4th )

  3. LTV lowered for non individual from 70% to 50%

  4. If you have more than 1 outstanding residential loan, LTV lowered from 70% to 60%

8 Dec 2011

Additional Buyer Stamp Duty for Residential properties

  • For Foreigners and non-individuals, 10% ABSD

  • For PR buying  2nd or more properties, 3 % ABSD

  • For Singaporean buying 3rd or more properties, 3% ABSD

4 Sept 2012

Effective 4 Nov 2012, URA cap the dwelling units in suburban areas,  Maximum number of DUs per development    ≤  MP Allowable GPR x Site Area  / 70 sqm

5 Oct 2012

  1. Effective 6 Oct 2012, residential loan tenure for residential loan cap at 35 years – apply to  both individual and non-individual borrowers.

  2. For tenure > 30 years or extend beyond the retirement age of 65,

  • Individual borrowers with one or more outstanding housing loans,  LTV reduced to 40%

  • Individual borrowers without outstanding  housing loans, LTV reduced to 60%

3. Non-individual borrowers  LTV lowered from 50% to 40%.

12 Jan 2013

Increase Additional Buyer Stamp Duty (ABSD)

  • SC buying 1st residential – No ABSD

  • SC buying 2nd residential property from 0% to 7%

  • SC buying 3rd or subsequent properties from 3% to 10%

  • PR buying 1st residential property from  0% to 5%

  • PR buying 2nd or subsequent residential property from 3% to 10%

  • Foreigners and Non individual from 10% to 15%

Lower Loan To Value (LTV)  for housing loans

  • Individual obtaining 2nloan, LTV lower from 60% to 50% or 30% if loan tenure exceed 30 years or extend beyond retirement age of 65 years.

  • Individual obtaining 3rd loan, LTV lower from 60% to 40% or 20% if loan tenure exceed 30 years or extend beyond retirement age of 65 years.

  • Non individual LTV lower from 40% to 20%

Minimum Cash Down payment for residential property

  • Individual with outstanding loan and are obtaining 2nd or subsequent loan, minimum cash down payment  will be increase from 10% to 25%

 Measures for Public Housing

  • Tighter eligibility for loans to buy HDB flats:PRs who own a HDB flat will be disallowed from subletting their whole flat.

    • MAS will cap the Mortgage Servicing Ratio (MSR) for housing loans  at 30% of a borrower’s gross monthly income.
    •  For loans granted by HDB, the cap on the MSR will be lowered from 40% to 35%.
  • PRs who own a HDB flat must sell their flat within six months of purchasing a private residential property in Singapore.

  • Tighten the terms for granting HDB loans and the use of CPF funds for the purchase of HDB flats with remaining leases of less than 60 years wef 1 July 2013

Measures for Executive Condominium Developments

  • The maximum strata floor area of new EC units will be capped at 160 square metres.

  • Sales of new dual-key EC units will be restricted to multi-generational families only.

  • Developers of future EC sale sites from the Government Land Sales programme will only be allowed to launch units for sale 15 months from the date of award of the sites or after the physical completion of foundation works, whichever is earlier.

  • Private enclosed spaces and private roof terraces will be treated as gross floor area

Industrial Property Market: Seller’s Stamp Duty (SSD)

  • SSD at 15% if the property is sold in the first year of purchase, i.e. the property is held for one year or less from the date of purchase.

  • SSD at 10% if the property is sold in the second year of purchase,

  • SSD at 5% if the property is sold in the third year of purchase

For clarifications, resale properties or other enquiries, please SMS/Call 9745-5178 or fill in details below.

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