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A short history of the Singapore property market

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Fifteen of sixteen measures since 2009 tightened the market

FreeTimeline

Fifteen of sixteen measures since 2009 tightened the market

Red: tighter. Green: easier. Impact is my own rating from 1 (minor) to 3 (major).

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Fifteen of sixteen measures since 2009 tightened the marketRed: tighter. Green: easier. Impact is my own rating from 1 (minor) to 3 (major).200820122016202020242028Stamp duties onlyLoan and debt limits onlyStamp duty and loan limits togetherEasingABSD introducedTop BSD rate 4% above S$1mBSD up for dearer homesABSD up (foreigners 60%)SSD back to four yearsInterest-only loans banned35-year loan limitTDSR introduced (60%)TDSR floor 4%, 15-month waitSSD starts; LTV 80%SSD 3 years; LTV 70%SSD up to 16%; LTV 60%ABSD 15%; LTV 50% and 40%ABSD up; LTV down 5 pointsABSD up; TDSR 55%SSD 3 years; TDSR easedABSD introduced: 7 Dec 2011 (impact 3)7 Dec 2011impact 3Top BSD rate 4% above S$1m: 19 Feb 2018 (impact 1)19 Feb 2018impact 1BSD up for dearer homes: 14 Feb 2023 (impact 1)14 Feb 2023impact 1ABSD up (foreigners 60%): 26 Apr 2023 (impact 2)26 Apr 2023impact 2SSD back to four years: 3 Jul 2025 (impact 2)3 Jul 2025impact 2Interest-only loans banned: 14 Sep 2009 (impact 1)14 Sep 2009impact 135-year loan limit: 5 Oct 2012 (impact 2)5 Oct 2012impact 2TDSR introduced (60%): 28 Jun 2013 (impact 3)28 Jun 2013impact 3TDSR floor 4%, 15-month wait: 29 Sep 2022 (impact 2)29 Sep 2022impact 2SSD starts; LTV 80%: 19 Feb 2010 (impact 3)19 Feb 2010impact 3SSD 3 years; LTV 70%: 30 Aug 2010 (impact 2)30 Aug 2010impact 2SSD up to 16%; LTV 60%: 13 Jan 2011 (impact 3)13 Jan 2011impact 3ABSD 15%; LTV 50% and 40%: 11 Jan 2013 (impact 3)11 Jan 2013impact 3ABSD up; LTV down 5 points: 5 Jul 2018 (impact 3)5 Jul 2018impact 3ABSD up; TDSR 55%: 15 Dec 2021 (impact 2)15 Dec 2021impact 2SSD 3 years; TDSR eased: 10 Mar 2017 (impact 2)10 Mar 2017impact 2

Source: MND, MAS, IRAS and MOF releases via the Propwise policy timeline. HDB-only measures are left out. Impact sizes are a PropInsights rating (a judgment, not data): data/catalog/pmcm-policy-events.csv.

View the data as a table
Fifteen of sixteen measures since 2009 tightened the market
EventStartEndNote
ABSD introduced2011-12-07impact 3
Top BSD rate 4% above S$1m2018-02-19impact 1
BSD up for dearer homes2023-02-14impact 1
ABSD up (foreigners 60%)2023-04-26impact 2
SSD back to four years2025-07-03impact 2
Interest-only loans banned2009-09-14impact 1
35-year loan limit2012-10-05impact 2
TDSR introduced (60%)2013-06-28impact 3
TDSR floor 4%, 15-month wait2022-09-29impact 2
SSD starts; LTV 80%2010-02-19impact 3
SSD 3 years; LTV 70%2010-08-30impact 2
SSD up to 16%; LTV 60%2011-01-13impact 3
ABSD 15%; LTV 50% and 40%2013-01-11impact 3
ABSD up; LTV down 5 points2018-07-05impact 3
ABSD up; TDSR 55%2021-12-15impact 2
SSD 3 years; TDSR eased2017-03-10impact 2
Topic
A short history of the Singapore property market
Segment
The overall market
Chart type
Timeline
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A short history of the Singapore property market

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