Sales fell 29% to 59% after five tightening rounds and rose 54% after the 2017 easing

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Sales fell 29% to 59% after five tightening rounds and rose 54% after the 2017 easing

Change in average quarterly sales, four quarters after versus four before (2025: three quarters after)

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Sales fell 29% to 59% after five tightening rounds and rose 54% after the 2017 easingChange in average quarterly sales, four quarters after versus four before (2025: three quarters after)2009201220152018202120242027Tighter (red) or easier (green)SSD, LTV cut to 80%ABSD introducedLoan tenure cap, LTVTDSR introducedSSD cut to 3 yearsHigher ABSD, lower LTVHigher ABSD, TDSR 55%TDSR floor up, HDB LTVHigher ABSDSSD back to 4 yearsSSD, LTV cut to 80%: Feb 2010 (+7.8%)Feb 2010+7.8%ABSD introduced: Dec 2011 (+8.5%)Dec 2011+8.5%Loan tenure cap, LTV: Oct 2012 (-37.5%)Oct 2012-37.5%TDSR introduced: Jun 2013 (-58.9%)Jun 2013-58.9%SSD cut to 3 years: Mar 2017 (+53.5%)Mar 2017+53.5%Higher ABSD, lower LTV: Jul 2018 (-28.7%)Jul 2018-28.7%Higher ABSD, TDSR 55%: Dec 2021 (-32.8%)Dec 2021-32.8%TDSR floor up, HDB LTV: Sep 2022 (-37.3%)Sep 2022-37.3%Higher ABSD: Apr 2023 (-9.6%)Apr 2023-9.6%SSD back to 4 years: Jul 2025 (-3.4%)Jul 2025-3.4%

Source: URA private residential sales and policy dates (MAS, MOF, MND, IRAS releases), 2009 Q1 to 2026 Q2. PropInsights calculation; rows from data/derived/timeline_policy_windows.csv.

Medians and counts only: no unit-level data.

View the data as a table
Sales fell 29% to 59% after five tightening rounds and rose 54% after the 2017 easing
EventStartEndNote
SSD, LTV cut to 80%2010-02-19+7.8%
ABSD introduced2011-12-07+8.5%
Loan tenure cap, LTV2012-10-05-37.5%
TDSR introduced2013-06-28-58.9%
SSD cut to 3 years2017-03-10+53.5%
Higher ABSD, lower LTV2018-07-05-28.7%
Higher ABSD, TDSR 55%2021-12-15-32.8%
TDSR floor up, HDB LTV2022-09-29-37.3%
Higher ABSD2023-04-26-9.6%
SSD back to 4 years2025-07-03-3.4%
Topic
What transaction volumes tell us
Segment
The overall market
Chart type
Timeline
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