Singapore property cooling measures, 1996 to 2025
Every national round of residential property measures on record, in the order they took effect: stamp duty, loan limits and eligibility rules. See the market page for how they line up against prices, rates and supply.
What property cooling measures are in force in Singapore today?
The most recent round, 4 Jul 2025 (Seller's stamp duty back to 4 years), is the latest of 24 rounds since 1996. Today ABSD runs up to 60% for a foreigner, a bank can lend up to 75% of the price on a first housing loan, and a resale within a seller's stamp duty window of 4 years still pays it.
What applies today
Every round, 2025 back to 1996
Red where a round tightened borrowing or buying, green where it eased. Newest first.
4 Jul 2025 · Tightening
Seller's stamp duty back to 4 years
Seller's stamp duty extended from 3 to 4 years at 16%, 12%, 8% and 4%, for homes bought from this date. Source
20 Aug 2024 · Tightening
HDB loans cut to 75%
HDB loans cut from 80% to 75% of value, in line with bank loans, alongside larger CPF housing grants. Source
27 Apr 2023 · Tightening
ABSD for foreigners doubled to 60%
ABSD raised to 60% for foreigners, 20% on a citizen's second home and 30% on a permanent resident's second; first-home rates unchanged. Source
15 Feb 2023 · Tightening
Top buyer's stamp duty rates raised to 5% and 6%
Buyer's stamp duty of 5% on the part of a home's value from S$1.5 million to S$3 million, and 6% above S$3 million. Source
30 Sep 2022 · Tightening
Higher stress-test rates, HDB loans 80%
The interest rate private loans are tested at raised from 3.5% to 4%, and a 3% test rate set for HDB loans; HDB loans cut from 85% to 80% of value; private owners must wait 15 months before buying a resale flat. Source
16 Dec 2021 · Tightening
ABSD raised, debt servicing ratio 55%
ABSD raised to 17% on a citizen's second home, 25% on a permanent resident's second and 30% for foreigners; the debt servicing ratio cut from 60% to 55%; HDB loans cut from 90% to 85% of value. Source
6 Jul 2018 · Tightening
ABSD raised, loan limits cut 5 points
ABSD raised to 12% on a citizen's second home, 15% on a permanent resident's second and 20% for foreigners; every bank loan limit cut 5 points, to 75% on a first loan. Source
20 Feb 2018 · Tightening
Top buyer's stamp duty rate raised to 4%
A new 4% buyer's stamp duty tier on the part of a home's value above S$1 million. Source
11 Mar 2017 · Easing
Seller's stamp duty cut to 3 years
Seller's stamp duty cut to 3 years at 12%, 8% and 4%; equity-withdrawal loans up to 50% of value freed from the debt servicing ratio. Source
27 Aug 2013 · Tightening
HDB loan terms tightened
HDB loans capped at 25 years and 30% of income; bank loans for HDB flats capped at 30 years; permanent residents must wait 3 years before buying a resale flat. Source
29 Jun 2013 · Tightening
Total debt servicing ratio introduced
All property loan repayments capped at 60% of gross monthly income, tested at an interest rate of at least 3.5%. Source
12 Jan 2013 · Tightening
ABSD raised, second-loan limit cut
ABSD raised to 15% for foreigners and companies, 7% on a citizen's second home and 5% on a permanent resident's first; a second housing loan limited to 50% of value, with 25% in cash; a 30% mortgage servicing cap on bank loans for HDB flats. Source
6 Oct 2012 · Tightening
Loan tenure capped at 35 years
Home loans capped at 35 years, with lower loan limits for tenures over 30 years or running past age 65. Source
8 Dec 2011 · Tightening
Additional buyer's stamp duty introduced
ABSD of 10% for foreigners and companies, 3% for permanent residents buying a second home, and 3% for citizens buying a third. Source
14 Jan 2011 · Tightening
Seller's stamp duty to 4 years
Seller's stamp duty extended to 4 years at 16%, 12%, 8% and 4%; a second housing loan limited to 60% of value, and 50% for companies. Source
30 Aug 2010 · Tightening
Seller's stamp duty to 3 years
Seller's stamp duty extended to sales within 3 years; buyers with an existing housing loan limited to 70% of value, with 10% in cash. Source
20 Feb 2010 · Tightening
Seller's stamp duty back, loan limit 80%
Seller's stamp duty reintroduced on homes sold within 1 year; bank housing loans cut from 90% to 80% of value. Source
14 Sep 2009 · Tightening
Interest absorption and interest-only loans banned
Developer interest absorption schemes and interest-only housing loans disallowed for uncompleted private homes. Source
26 Oct 2007 · Tightening
Deferred payment scheme withdrawn
Developers could no longer let buyers of uncompleted private homes defer most of the payment until completion. Source
19 Jul 2005 · Easing
Loan limit raised to 90%
Bank housing loans raised from 80% to 90% of value, and the minimum cash payment for private homes cut from 10% to 5%. Source
1 Sep 2002 · Easing
CPF allowed for part of the down payment
Loans stayed capped at 80%, but CPF savings could now cover half of the 20% down payment, cutting the cash needed to 10%. Source
12 Oct 2001 · Easing
1996 tax and foreign-loan curbs lifted
The income tax on gains from sales within 3 years was removed, and foreigners could again take Singapore-dollar housing loans. This is the date of the announcement in Parliament; the effective date is not confirmed. Source
18 Nov 1997 · Easing
Seller's stamp duty suspended
Seller's stamp duty on homes sold within 3 years suspended during the Asian financial crisis. This is the date of the government's announcement; the effective date is not confirmed. Source
15 May 1996 · Tightening
Anti-speculation package
Housing loans capped at 80% of value; gains on homes sold within 3 years taxed as income; seller's stamp duty on sales within 3 years; foreigners and foreign companies barred from Singapore-dollar housing loans. Source
Rounds by year
| Year | Rounds | Titles |
|---|---|---|
| 2025 | 1 | Seller's stamp duty back to 4 years |
| 2024 | 1 | HDB loans cut to 75% |
| 2023 | 2 | Top buyer's stamp duty rates raised to 5% and 6%; ABSD for foreigners doubled to 60% |
| 2022 | 1 | Higher stress-test rates, HDB loans 80% |
| 2021 | 1 | ABSD raised, debt servicing ratio 55% |
| 2018 | 2 | Top buyer's stamp duty rate raised to 4%; ABSD raised, loan limits cut 5 points |
| 2017 | 1 | Seller's stamp duty cut to 3 years |
| 2013 | 3 | ABSD raised, second-loan limit cut; Total debt servicing ratio introduced; HDB loan terms tightened |
| 2012 | 1 | Loan tenure capped at 35 years |
| 2011 | 2 | Seller's stamp duty to 4 years; Additional buyer's stamp duty introduced |
| 2010 | 2 | Seller's stamp duty back, loan limit 80%; Seller's stamp duty to 3 years |
| 2009 | 1 | Interest absorption and interest-only loans banned |
| 2007 | 1 | Deferred payment scheme withdrawn |
| 2005 | 1 | Loan limit raised to 90% |
| 2002 | 1 | CPF allowed for part of the down payment |
| 2001 | 1 | 1996 tax and foreign-loan curbs lifted |
| 1997 | 1 | Seller's stamp duty suspended |
| 1996 | 1 | Anti-speculation package |
This timeline is curated by homequant from MAS's official "Macroprudential Policies in Singapore" page and the primary announcement each round cites; it never enters a valuation or a tax figure (those come from the versioned rules behind /rates). Every entry above links its own source.