Property Cooling Measures

14-Sep-2009 

  • Reinstatement of the Confirmed List for the 1st Half 2010 Government Land Sales (GLS) Programme

  • Removal of the Interest Absorption Scheme (IAS) and Interest-Only Housing Loans (IOL), with effect from today, i.e. 14 Sep 2009.

  • Non-extension of the Jan 2009 Budget assistance measures for the property market when the measures expire.

    Source: http://www.ura.gov.sg/pr/text/2009/pr09-63.html


19-Feb-2010

  • Introduction of Seller’s Stamp Duty (SSD) on sale of private residential properties including residential lands within 1 year of purchase.

  • Reduction in Loan-to-Value (LTV) limit to 80% for all housing loans provided by financial institutions regulated by the Monetary Authority of Singapore (MAS)

    Source: http://www.ura.gov.sg/pr/text/2010/pr10-09.html

5-Mar-2010

30-Aug-2010 

  • Increase in Seller’s Stamp Duty (SSD) holding period to 3 years, at rates of 3%, 2%and 1%.

  • For buyers with one or more outstanding housing loans at time of the new housing purchase:

1) Increase in minimum cash payment from 5% to 10% of the valuation limit

2) Reduction of Loan-to-Value (LTV) limit to 70% for housing loans granted by financial institutions regulated by MAS.

Source: http://www.ura.gov.sg/pr/text/2010/pr10-99.html

  • Allow households earning between $8,000 and $10,000, to buy new DBSS flats with a $30,000 CPF Housing Grant.

  • Increase the supply of new flats, Design, Build and Sell Scheme (DBSS) flats, and Executive Condominiums (EC).

  • Shorten the completion time of Build-To-Order (BTO) flats, from 3 years to 2.5 years.

  • Increase in Minimum Occupation Period (MOP) of non-subsidised flats from 3 years to 5 years for resale and subletting

  • Disallow concurrent ownership of both HDB flats and private residential properties within the Minimum Occupation Period (MOP).

    Source:
    http://www.hdb.gov.sg/fi10/fi10296p.nsf/PressReleases/895204E2295BDC394825778E007FA919?OpenDocument

  18-Oct-2010


13-Jan-2011
 

  • Increase in the Seller’s Stamp Duty (SSD) holding period from 3 to 4 years.

  • Increase in SSD rates to 16%, 12%, 8% and 4% on the selling price of private residential properties if property is sold in the 1st, 2nd, 3rd and 4th year of purchase respectively
     
  • Reduction in the Loan-To-Value (LTV) limit to 50% on housing loans granted by financial institutions regulated by MAS, from non-individual purchasers

  • Reduction in the Loan-To-Value (LTV) limit to 60% on housing loans granted by financial institutions regulated by MAS, from individuals with outstanding housing loans, at the time of the new housing purchase.

    Source: http://www.ura.gov.sg/pr/text/2011/pr11-07.html

7-Dec-2011

  • Introduction of Additional Buyer's Stamp Duty (ABSD), above the current Buyer's Stamp Duty on selected categories of residential property purchases:

          i) 10% ABSD - foreigners and non-individuals (corporate entities) 


          ii) 3% ABSD - permanent residents (PRs) owning one and buying the
              2nd and subsequent
  

          iii) 3% ABSD - Singapore Citizens owning 2 and buying the 3rd and subsequent


           Source:http://www.ura.gov.sg/pr/text/2011/pr11-162.html


spacer
agent image
agency logo
Janet Fong
*SNR Associate Director, CEA BOUQUET JAN/FEB 2016
ORANGETEE & TIE PTE LTD
janetfongsy@gmail.com
CEA Licence No.:
L3009250K / R019968D
+(65) 9642 0875