Every cooling measure and major housing policy change since 2009, with the official source for each.
104 announcements from 2009 to 2026. Each entry gives the announcement date, the date the change took effect, and a link to the official page. The current and past values of each rule are on the rules page. Entries markedUnverified could not be confirmed on an official page.
Collective sale (en bloc) consent thresholds lowered for older developments: Land Titles (Strata) (Amendment) Bill 2026 passed
Parliament passed the Land Titles (Strata) (Amendment) Bill 2026 on 8 Sep 2026. Collective sale consent thresholds become 90% below 10 years old, 80% for 10 to 39 years, 70% for 40 to 59 years and 65% for 60 years and older. The requisition threshold to start a sale rises to 35% of owners, the signature period falls from 12 to 6 months, and the restriction after a failed attempt rises from 2 to 3 years.
Ministry of Law is a primary government source. MinLaw press release of 4 Aug 2026 (first reading, numbers above); Second Reading speech by Minister Edwin Tong dated 8 Sep 2026 at https://www.mlaw.gov.sg/second-reading-speech-of-the-land-titles-strata-amendment-bill-2026-by-minister-edwin-tong-sc/. Passage date comes from https://www.parliament.gov.sg/parliamentary-business/bills-introduced (Bill No. 18/2026: introduced 04.08.2026, date passed 08.09.2026). Not yet in force: MinLaw says the commencement date will be announced, and I found no commencement notice as at 2026-10-04, so effective_from is null. The regime also extends majority-consent collective sale to non-strata developments with long flat leases. Most changes apply to ongoing exercises where the first signature to the collective sale agreement is not yet obtained at commencement; committees mid-signature may opt in and get 7 months.
HDBMND
HDB and EC income ceilings raised; extra ballot chances for families with children
At National Day Rally 2026 the monthly household income ceiling rose from S$14,000 to S$16,000 for families (new subsidised HDB flats, resale flats with the CPF Housing Grant, HDB loans) and from S$7,000 to S$8,000 for singles aged 35 and above. The ceiling for new ECs rose from S$16,000 to S$18,000. First-timer families with or expecting children get one extra ballot chance per Singapore Citizen child aged 18 or below from the Feb 2027 sales exercise.
HDB page and MND press release list are dated 23 Aug 2026 (NDR 2026). New ceilings apply to HFE letter applications from 24 Aug 2026; the new EC ceiling applies to land sale tenders closing on or after 24 Aug 2026 (not to balance units in existing ECs). Annex A (https://www.hdb.gov.sg/-/media/hdb-pulse/news/2026/increase-in-income-ceilings-and-greater-support-for-families-with-children/Annex-A.pdf) gives the extended-family ceiling as S$24,000 and also lifts the PPHS, Fresh Start and Step-Up CPF Housing Grant ceiling from S$7,000 to S$8,000 and the Lease Buyback, Silver Housing Bonus and CCA/2-room Flexi ceiling for seniors from S$14,000 to S$16,000. The release does not change the EHG income ceiling (the CPF Board page https://www.cpf.gov.sg/member/infohub/educational-resources/a-guide-to-enhanced-cpf-housing-and-proximity-grant shows S$9,000). The next BTO exercise moves from October to November 2026 (about 7,960 flats).
Stamp dutyMOF
Developer ABSD remission: longer timelines for large and mega en bloc sites
For en bloc sites bought on or after 29 Jul 2026, MOF and MND set longer housing developer ABSD remission timelines: Large Sites (700 to 1,399 units) get 6 years and Mega Sites (1,400 units or more) 7 years for completion and sale, up from 5.5 years, with the commencement timeline kept at 2.5 years. Mega Sites must sell at least 50% of units by the end of year 6, and the redevelopment must yield at least 1.5 times the existing units.
Release dated 28 July 2026 (MOF and MND; MND list also 28 Jul 2026). Projects in more than one category of the complex-projects framework get a further 6 months (6.5 and 7.5 years, with a 3-year commencement timeline). Regular en bloc sites (5 to 699 units) stay at 2 years to commence and 5 years to complete and sell. Housing developers pay 40% ABSD, of which 35% is remittable. The IRAS page https://www.iras.gov.sg/taxes/stamp-duty/for-property/appeals-refunds-reliefs-and-remissions/common-stamp-duty-remissions-and-reliefs-for-property/sites-for-development-of-five-or-more-residential-units/absd-housing-developers-remission-timeline-extensions-for-complex-projects-and-corenet-x repeats the change but did not load readable text through WebFetch.
HDBHDB
15-month wait-out removed for private property owners buying non-subsidised HDB resale flats without an HDB loan
With immediate effect, private residential property owners and ex-owners who buy a non-subsidised HDB resale flat without an HDB housing loan no longer face the 15-month wait-out. They must sell any private property, in Singapore or overseas, within six months of completing the purchase. The 30-month wait-out remains for subsidised flats, resale flats with grants, ECs and HDB loans.
HDB and MND pages are dated 28 July 2026 when read in a browser (MND press release list also shows 28 Jul 2026). A curl or WebFetch read of the HDB page shows 27 July because the raw timestamp is 2026-07-27T16:00Z (UTC). The release gives the reason: HDB resale prices fell 0.1% in 1Q2026 and 0.3% in 2Q2026. The 15-month wait-out began on 30 Sep 2022. The release does not name the Minister who announced it.
HDBHDB
Community Care Apartments: age eligibility lowered from 65 to 55, fees cut with new subsidies
MOH, MND and HDB lowered the age eligibility for Community Care Apartments from 65 to 55 and cut monthly Basic Service Package fees by 18% to 75% with new subsidies. The age change applies from the October 2026 BTO sales exercise and to CCAs offered in later Sale of Balance Flats exercises.
Page published 13 Jul 2026 (Singapore time). The 23 Aug 2026 income ceiling release says the next BTO exercise moves from October to November 2026, so the effective exercise shifted and effective_from is left null. The sixth CCA project is at Toa Payoh.
SupplyMND
Government Land Sales programme 2H2026: 4,745 private units on the Confirmed List
MND said the 2H2026 GLS Programme has nine Confirmed List and 13 Reserve List sites yielding 9,200 private units. The Confirmed List has 4,745 units (including 735 EC units), taking 2026 Confirmed List supply to 9,320 units, more than 50% above the 10-year annual average.
Release dated Jun 3, 2026 (same programme also on https://www.ura.gov.sg/news/media/pr26-41/). The White site at Town Hall Link (Jurong Lake District) goes to tender in July 2026 under the Confirmed List. No programme start date is stated, so effective_from is null.
For EC Government Land Sales sites with tender closing dates on or after 8 May 2026, MND extends the EC Minimum Occupation Period from 5 to 10 years (EC owners can sell to any buyer after the 15th year), ends the Deferred Payment Scheme, and raises the first-timer quota from 70% to 90% with the priority period lengthened from one month to two years.
Release dated May 8, 2026. The rules apply to sites by tender closing date, so ECs from earlier tenders keep the 5-year MOP. During the 10-year MOP buyers cannot rent out the whole unit, buy another residential property, or sell to SCs and PRs. EC income ceiling was raised separately on 23 Aug 2026.
HDBHDB
Third Child Priority Scheme quota doubled and extended to expectant parents
At the Committee of Supply, SMS Sun Xueling announced that the Third Child Priority Scheme quota rises from up to 5% to up to 10% of flats in BTO and Sale of Balance Flats exercises, and that families expecting their third child become eligible. It applies from the June 2026 BTO exercise.
Same release (4 Mar 2026, Singapore time) announced new public housing at Pearl's Hill (about 1,700 flats) and Toa Payoh West. The June 2026 exercise application window opened on 17 Jun 2026 (https://www.hdb.gov.sg/hdb-pulse/news/2026/hdb-launches-6952-flats-across-7-projects-in-june-2026-bto-sales-exercise). In the same COS debate (https://www.mnd.gov.sg/newsroom/parliament-matters/speeches/view/speech-by-minister-chee-hong-tat-at-the-committee-of-supply-debate) Minister Chee Hong Tat said the Government was reviewing the BTO income ceiling, the 15-month wait-out and EC policy; those reviews led to the 8 May, 28 Jul and 23 Aug 2026 events.
OtherHDB
Temporary rental occupancy cap relaxation extended to 31 Dec 2028
HDB and URA extended by two years, to 31 Dec 2028, the relaxed occupancy cap that lets 4-room and larger HDB flats and private homes of at least 90 sqm house up to eight unrelated persons (instead of six).
Page published 16 Jan 2026 (Singapore time). The cap was first relaxed in Jan 2024 until 31 Dec 2026. Owners of private homes must register with URA; HDB owners need HDB approval. effective_from is null because the extension takes over from the current 31 Dec 2026 end date and the page gives no start day.
SupplyHDB
HDB to launch about 19,600 BTO flats in 2026
HDB said it will launch about 19,600 BTO flats in 2026 in February, June and October, including more than 4,000 Shorter Waiting Time flats, and remains on track to offer about 55,000 flats from 2025 to 2027.
Page published 8 Jan 2026 (Singapore time). The 23 Aug 2026 income ceiling release moved the October 2026 exercise to November 2026.
2025
SupplyMND
Government Land Sales programme 1H2026: 4,575 private units on the Confirmed List
MND said the 1H2026 GLS Programme has nine Confirmed List and 12 Reserve List sites yielding 9,185 private units, similar to 2H2025. The Confirmed List has 4,575 units (including 635 EC units) and the Reserve List 4,610 units. The Jurong Lake District Master Developer site will be sold as separate parcels.
Release dated Dec 2, 2025 on the MND page. No programme start date is stated on the page, so effective_from is null.
TaxMOF
One-off property tax rebate for owner-occupiers in 2026
MOF and IRAS announced a one-off 2026 property tax rebate of 15% for owner-occupied HDB flats and 10%, capped at S$500, for owner-occupied private residential property. One- and two-room HDB owner-occupiers continue to pay no property tax.
Release dated 28 November 2025 (also on IRAS newsroom, 28 Nov 2025). The rebate applies to the 2026 property tax bills (sent from Dec 2025, due 31 Jan 2026), so effective_from is the start of 2026. IRAS page https://www.iras.gov.sg/taxes/property-tax/property-owners/2026-property-tax-bill adds that from 1 Jan 2026 the Extended GIRO Scheme (24-month instalments) needs all owners aged 65 or above, owner-occupation and Assessable Income not above S$39,000. The IRAS page words the rebate as 'up to 15%, capped at $500'; the MOF release gives 15% for HDB with no cap and 10% capped at S$500 for private, which is used here.
HDBHDB
Family Care Scheme (Proximity), higher second-timer BTO quota and enhanced Deferred Income Assessment
From the July 2025 sales exercises HDB rolled out the Family Care Scheme (Proximity), which replaces the Married Child Priority Scheme and Senior Priority Scheme, and raised the second-timer share of 3-room and larger BTO flats by 5 pp (3-room Standard up to 20%; 3-room Plus/Prime and 4-room and larger up to 10%). It also eased Deferred Income Assessment (only one of the two applicants must be a student or National Serviceman) and took the Fresh Start Housing Grant to S$75,000.
Page published 20 Jul 2025 (Singapore time; the raw timestamp is 2025-07-19T16:00Z). The July 2025 sales exercise applications opened on 23 Jul 2025 per the HDB launch release. FCS (Joint Balloting), the second component, started with the October 2025 sales exercise (applications opened 15 Oct 2025, https://www.hdb.gov.sg/hdb-pulse/news/2025/october-2025-bto-sales-exercise). Under FCS (Proximity), up to 30% of 2-room Flexi BTO flats and up to 2% of SBF flats go to first-timer singles applying under the scheme. rule_ids left empty because FCS is a priority scheme, not the Proximity Housing Grant.
Stamp dutyMND
Seller's Stamp Duty holding period back to four years, rates raised by 4 pp
MND, MOF and MAS announced that the SSD holding period for residential property goes from three to four years and each tier rises by 4 pp: 16% up to 1 year, 12% over 1 to 2 years, 8% over 2 to 3 years, 4% over 3 to 4 years. It applies to residential property purchased on or after 4 Jul 2025, 12.00am.
Joint release (MAS page dated 3 July 2025; MND page title is the same). IRAS page https://www.iras.gov.sg/taxes/stamp-duty/for-property/selling-or-disposing-property/seller's-stamp-duty-(ssd)-for-residential-property confirms 3 Jul 2025 and 'no transition period'. HDB flat owners are not affected because of the Minimum Occupation Period. The release reverts to the pre-2017 four-year period.
HDBHDB
Parenthood Provisional Housing Scheme (PPHS) rental voucher extended to 31 Dec 2025
HDB extended the PPHS Voucher by six months to 31 Dec 2025 for eligible families renting on the open market while awaiting a new flat. Eligible families receive S$300 a month on a reimbursement basis, and the household income ceiling is S$7,000.
About 200 households expected to benefit. The page does not state the voucher's original end date; the extension runs to 31 Dec 2025. HDB expected PPHS supply of about 4,000 units by end-2025.
SupplyMND
Government Land Sales programme 2H2025: 4,725 private units on the Confirmed List
MND said the 2H2025 GLS Programme has 10 Confirmed List and 12 Reserve List sites yielding about 9,200 private units. The Confirmed List has 4,725 units, including 990 EC units, taking 2025 Confirmed List supply to close to 10,000 units and EC supply to about 2,000 units, the most in a year since 2014.
Release dated Jun 13, 2025 on the MND page. The release does not state a start date for the programme, so effective_from is null.
HDBMND
Silver Housing Bonus enhanced
From 1 Dec 2025 seniors who right-size to a 3-room or smaller flat qualify for the Silver Housing Bonus by committing a net increase of up to S$60,000 in their CPF Retirement Account (which can come from CPF housing refunds, so no cash top-up may be needed). The maximum bonus rises from S$30,000 to S$40,000 (extra S$10,000 for a 2-room or smaller flat, including Community Care Apartments), and sellers of private property with Annual Value of S$21,000 to S$31,000 become eligible for up to S$10,000 (3-room) or S$20,000 (2-room).
Announced by Minister Desmond Lee at the MND Committee of Supply debate on 5 Mar 2025. The HDB page says the enhancements take effect from 1 December 2025. The 2026 income ceiling rise (23 Aug 2026) later lifts the Silver Housing Bonus income ceiling from S$14,000 to S$16,000.
Stamp dutyMOF
ABSD remission timelines extended for housing developers' complex projects
MOF and MND extended the developer ABSD remission timelines by 6 months for projects in any one of four complex-project categories (large en bloc sites of at least 700 units and at least 1.5 times the existing yield, complex technical or infrastructure sites, Strategic Development Incentive projects, higher-productivity projects), or by 12 months if in more than one category. This applies to residential land acquired on or after 6 Mar 2025.
Same release extends the CORENET X qualifying period: the 6-month extension for smaller projects (GFA under 30,000 sqm) now covers first submissions up to 31 Dec 2026, while it ceases for projects of at least 30,000 sqm with first submissions after 31 Dec 2025. Release is dated 5 March 2025 and says the revisions apply to land acquired on or after 06 March 2025.
HDBMOF
Budget 2025: Fresh Start Housing Grant raised to S$75,000 and Fresh Start extended to first-timer public rental families
In Budget 2025 the Government said it will raise the Fresh Start Housing Grant for second-timer public rental families with children from S$50,000 to S$75,000. It also lets first-timer public rental families with children buy shorter-lease subsidised flats under Fresh Start, with the Enhanced CPF Housing Grant (EHG) of up to S$120,000.
Budget statement paras 119-120. The Budget date (18 Feb 2025) is on https://www.mof.gov.sg/budget-archives/budget-2025/. MND/HDB gave the details at the Committee of Supply on 5 Mar 2025 (https://www.mnd.gov.sg/newsroom/press-releases/view/providing-more-support-for-home-buyers-and-public-rental-families): grant S$60,000 upfront into CPF OA plus S$15,000 over five years; first-timer families can apply from April 2025 and book flats from the first BTO exercise in 2026. The higher grant applies from the July 2025 sales exercises, which opened on 23 Jul 2025 (HDB release at https://www.hdb.gov.sg/hdb-pulse/news/2025/hdb-launches-10209-flats-in-the-july-2025-bto-and-sbf-sales-exercises). The same COS release said HDB will hold another Sale of Balance Flats exercise later in 2025. Budget 2025 had no new property tax or stamp duty measure for housing.
SupplyMND
HDB to launch over 25,000 new flats in 2025
MND and HDB announced about 19,600 BTO flats (including about 3,800 Shorter Waiting Time flats) and over 5,500 Sale of Balance Flats for 2025, and over 50,000 flats from 2025 to 2027. From the Feb 2025 sales exercise HDB shortlists applicants up to 200% of flat supply, down from 300%.
Joint MND and HDB release. The Feb 2025 sales exercise (with the largest-ever SBF) is the point where the 200% shortlisting applies; the release does not give the exact application dates, so effective_from is set to the announcement date.
2024
TaxMOF
2025 property tax rebate and annual value band revision confirmed
MOF and IRAS confirmed a one-off 2025 property tax rebate of 20% for owner-occupied HDB flats and 15% (capped at S$1,000) for owner-occupied private homes. They also confirmed the revised owner-occupier AV bands from Budget 2024 apply from 1 Jan 2025. One- and two-room HDB flats still pay no property tax.
Rebate announcement only. The band change itself dates from 16 Feb 2024.
HDBHDB
First BTO launch under Standard, Plus and Prime framework
HDB launched 8,573 flats in 15 projects (7 Standard, 7 Plus, 1 Prime) in the October 2024 BTO exercise. Subsidy recovery on first resale is 6% to 8% for the Plus projects and 9% for the Prime project. First-timer singles can apply for 2-room Flexi flats in all locations, and the higher EHG applies.
HDB site returns 403 to curl but opens in a browser. The HDB framework page confirms a 10-year MOP and no whole-flat rental for Plus and Prime, and a 5-year MOP for Standard.
Cooling measureMND
HDB loan LTV cut to 75% and Enhanced CPF Housing Grant raised
MND and HDB lowered the HDB housing loan LTV limit from 80% to 75% for complete resale applications received from 20 Aug 2024 and for BTO from the October 2024 exercise. The Enhanced CPF Housing Grant maximum rose from S$80,000 to S$120,000 for first-timer families and from S$40,000 to S$60,000 for singles. Total grants for a first-timer family buying a resale flat reach up to S$230,000.
Joint MND-HDB release dated 19 Aug 2024, effective 20 Aug 2024 12.00am. It says PM Wong announced the EHG increase at NDR 2024. The HDB 16 Oct 2024 release calls 20 Aug 2024 the announcement date of the EHG increase.
HDBMND
Lower initial downpayment for young couples with deferred income assessment, COS 2024
At MND Committee of Supply 2024, HDB said it would cut the downpayment at Agreement for Lease to 2.5% of the flat price for young couples (students or NSFs) who defer income assessment, from the June 2024 BTO exercise. A S$300 a month PPHS open-market rental voucher would run for one year from July 2024.
Start is the June 2024 BTO sales exercise. The primary page gives no day, so effective_from is null.
TaxMOF
Owner-occupier property tax annual value bands revised, Budget 2024
Budget 2024 shifted all annual value (AV) bands for owner-occupier residential property tax up from 1 Jan 2025. The 0% band now covers the first S$12,000 of AV (was S$8,000), and the top 32% rate applies above S$140,000 (was above S$100,000). Rates per band stay the same.
The IRAS overview PDF has the AV bands but no date. The Budget date of 16 Feb 2024 comes from https://www.mof.gov.sg/news-resources/newsroom/deputy-prime-minister-and-minister-for-finance-mr-lawrence-wong-delivered-singapore-s-fy2024-budget-statement-on-16-feb-2024/ . MOF release of 29 Nov 2024 says the bands were announced at Budget 2024.
Stamp dutyMOF
ABSD concession for single senior citizens and lower developer clawback, Budget 2024
MOF and MND extended the ABSD refund concession to single Singapore citizens aged 55 and above buying a replacement private home on or after 16 Feb 2024, if they sell their first home within the set period. For housing developers, the ABSD remission clawback falls when at least 90% of units are sold within 5 years. Example: at 99% sold, clawback drops from 35% to 25% on sites bought on or after 16 Dec 2021.
Joint MOF and MND release on Budget 2024 day. The same release restates housing developer ABSD of 40% (5% non-remittable plus 35% remittable) for land bought on or after 16 Dec 2021, which began in Dec 2021, not in 2024.
2023
TaxMOF
Property tax: final step of rate increase and 2024 rebate
MOF and IRAS confirmed that the second and final step of the property tax rate increase announced at Budget 2022 takes effect on 1 Jan 2024. It hits non-owner-occupied residential properties and owner-occupied properties with annual value above S$30,000. Non-owner-occupied rates become 12%, 20%, 28% and 36% in four bands. Owner-occupiers get a one-off rebate of up to 100%, capped at S$1,000.
The rate increase itself was announced at Budget 2022 (outside this era). This is the 30 Nov 2023 confirmation and rebate. Rate bands are in IRAS Annex B: https://www.iras.gov.sg/docs/default-source/media-releases/annex-b-progressive-property-tax-rates-for-residential-properties-effective-1-jan-2024.pdf . Lead list tied property tax changes to Budget 2023, but Budget 2023 added no new property tax rate change.
HDBMND
Plus flat resale conditions detailed: 30-month wait-out and income ceiling
At the post-NDR engagement, Minister Desmond Lee said resale Plus flats can be bought only by Singaporeans, with a 30-month wait-out for private property owners and an income ceiling for resale buyers equal to the prevailing BTO ceiling (S$14,000 for families and singles at the time). Plus flat buyers from HDB face subsidy recovery at first resale.
Resale conditions apply when Plus flats reach the resale market after the 10-year MOP, so there is no near-term effective date. Current MND framework page shows a S$16,000 ceiling for Plus resale buyers, which came later.
HDBMND
Standard, Plus and Prime BTO classification announced at National Day Rally 2023
PM Lee announced a new BTO classification from 2H2024. Standard flats keep standard subsidies and rules. Plus flats (choicer locations in each region) get more subsidies, a 10-year MOP, no whole-flat rental, subsidy recovery on first resale and tighter resale conditions. Prime flats (choicest locations) get the most subsidies and tightest rules. First-timer singles can apply for 2-room Flexi flats in all locations.
Joint MND-HDB release dated 20 Aug 2023 (NDR 2023 date). Implementation began with the October 2024 BTO launch on 16 Oct 2024 (HDB page). Lead list placed the Plus/Prime announcement in Aug 2024, which is wrong.
Cooling measureMND
ABSD rates raised, April 2023
MOF, MND and MAS raised ABSD: Singapore citizens 20% for the 2nd property (was 17%) and 30% for the 3rd and later (was 25%); PRs 30% for the 2nd (was 25%) and 35% for the 3rd and later (was 30%); foreigners 60% (was 30%); entities and trusts 65% (was 35%). First-property rates stay at 0% for citizens and 5% for PRs. Housing developers were not in the increase. ACDB for property holding entities rose from up to 46% to up to 71%. Applies to purchases from 27 Apr 2023, with a transitional rule for options granted on or before 26 Apr 2023 and exercised by 17 May 2023.
Joint release by MOF, MND and MAS. MOF mirror: https://www.mof.gov.sg/news-resources/newsroom/measures-for-a-sustainable-property-market/ . The ABSD rate table is an image, so the developer rate (35% remittable plus 5% non-remittable, unchanged since 16 Dec 2021) is taken from footnotes and the MAS macroprudential page.
HDBMND
Family and Parenthood Priority Scheme and tighter BTO non-selection rules, MND Committee of Supply 2023
Minister Desmond Lee announced that the Parenthood Priority Scheme would be renamed the Family and Parenthood Priority Scheme and widened to cover First-Timer Parents and Married Couples. Up to 40% of BTO supply and 60% of SBF supply would be set aside for it. First-timers would become second-timers in the ballot for one year after one non-selection count (was two).
Speech says the changes would apply to flat applications later in 2023 and that HDB needed time to implement system changes. No exact start date on the primary page, so effective_from is null.
HDBHDB
CPF Housing Grant raised for first-time resale buyers, Budget 2023
HDB raised the CPF Housing Grant for first-timer families buying a resale flat from S$50,000 to S$80,000 (2- to 4-room) and from S$40,000 to S$50,000 (5-room or larger). First-timer singles get S$40,000 (was S$25,000) for 2- to 4-room and S$25,000 (was S$20,000) for 5-room. Total resale grants rise to up to S$190,000 for families and S$95,000 for singles. Applies to resale applications submitted from 3:30pm on 14 Feb 2023. The release also announced a new First-Timer sub-category (families with children and married couples aged 40 and below) with an extra BTO ballot chance.
Joint MND-HDB press release issued on Budget day. Cut-off for qualifying resale applications was 3:30pm on 14 Feb 2023.
Stamp dutyMOF
Buyer's Stamp Duty raised for higher-value properties, Budget 2023
MOF raised the top BSD rates. Residential: 5% on the portion above S$1.5m up to S$3m, and 6% above S$3m (was 4% above S$1.5m). Non-residential: 4% on the portion above S$1m up to S$1.5m, and 5% above S$1.5m (was 3% above S$1m). Applies to properties acquired on or after 15 Feb 2023, with a transitional rule for options granted on or before 14 Feb 2023 and exercised by 7 Mar 2023. ACDB for property holding entities rose from up to 44% to up to 46%.
Lead list gave 5% on S$1m-1.5m and 6% above S$1.5m for residential. The primary page shows the new bands start at S$1.5m and S$3m.
2022
TaxMOF
Annual Values revised for 2023 with one-off property tax rebate for owner-occupiers
Annual Values of most residential properties are revised up from 1 Jan 2023, reflecting a rise of more than 20% in market rents since 1 Jan 2022. The Government gives a one-off 60% property tax rebate, capped at S$60, for owner-occupied properties. The progressive rates announced in Budget 2022 also start in 2023.
One- and two-room HDB owner-occupiers continue to pay no property tax in 2023 because their Annual Values stay below S$8,000.
Cooling measureMAS
Property measures, September 2022: higher TDSR and MSR rate floor, HDB loan LTV 80%, 15-month wait-out
MAS raised the medium-term interest rate floor for TDSR and MSR by 0.5 pp to 4% (residential) and 5% (non-residential). HDB set a 3% interest rate floor to compute eligible loan amounts and cut the HDB loan LTV limit from 85% to 80%. Private property owners and ex-owners must wait 15 months to buy a non-subsidised HDB resale flat, except seniors aged 55 and above moving to a 4-room or smaller resale flat. Joint MAS, MND and HDB release.
LEAD-LIST DATE CONTRADICTED: lead gave 30 Sep 2022; MAS release is dated 29 Sep 2022 and the measures took effect 30 Sep 2022. MAS floor applies to OTPs granted on or after 30 Sep 2022 (previous floor 3.5% residential, 4.5% non-residential). HDB floor applies to HLE applications received on or after 30 Sep 2022, 00:00; the HDB concessionary rate stays 2.6%. HDB LTV applies to sales exercises launched and complete resale applications received on or after 30 Sep 2022. No ABSD, developer ABSD, EHG or income ceiling change was part of this package. MND copy dated 29 Sep 2022 is on the MND site.
HDBMND
More BTO flats set aside for first-timers
From the Aug 2022 BTO exercise (launched 30 Aug 2022), at least 85% of 3-room and 95% of 4-room and larger BTO flats in non-mature estates are set aside for first-timer families, up from 70% and 85%. Up to 65% of non-senior 2-room Flexi flats in non-mature estates go to first-timer singles, up from 50%.
Mature estates keep at least 95% for first-timer families. MND page is a JavaScript page; text read through the MND site API. Release date taken from the MND site API (27 Aug 2022).
Stamp dutyMOF
Additional Conveyance Duties (Trust) for property-holding entities and Stamp Duties (Amendment) Bill 2022
The Stamp Duties (Amendment) Bill 2022 introduces ACD (Trust), payable on transfers on or after 10 May 2022 of equity interests in residential property-holding entities into any living trust once the significant ownership threshold is reached, even if no beneficial owner is identifiable. The Bill also sets stamp duty treatment for renunciation of interests in residential property held on trust.
Companion to the 8 May 2022 ABSD (Trust) announcement. Rate and refund details for ACD (Trust) were not read beyond the first paragraphs of the release.
Stamp dutyMOF
ABSD (Trust) at 35% on residential property transferred into a living trust
ABSD of 35% applies on any transfer of residential property into a living trust on or after 9 May 2022, even where no beneficial owner is identifiable. A refund is available if all beneficial owners are identifiable individuals with vested, unchangeable interests; the refund equals the gap to the highest applicable ABSD rate.
LEAD-LIST DATE CONTRADICTED: lead gave 9 May 2022; MOF release is dated 8 May 2022 and the rule applies from 9 May 2022. IRAS refund application must be made within six months after the instrument is executed.
HDBMND
MND Committee of Supply 2022: Fresh Start grant to S$50,000, HDB buyback for EIP-constrained owners
The Fresh Start Housing Grant rises from S$35,000 to S$50,000 from the May 2022 sales launch, and Fresh Start families can also buy shorter-lease 3-room flats. HDB will buy back flats from eligible owners stuck by Ethnic Integration Policy quotas after the 10-year ownership and minimum occupation period.
EIP buyback release: https://www.mnd.gov.sg/newsroom/press-releases/view/more-support-for-flat-owners-constrained-by-the-ethnic-integration-policy . Fresh Start grant change applies from the May 2022 HDB sales launch; the 3-room Fresh Start option start date is not stated. MND pages are JavaScript pages; text read through the MND site API.
TaxMOF
Budget 2022: progressive property tax for residential properties
Non-owner-occupied residential property tax rates rise from 10% to 20% to 12% to 36%, and owner-occupied rates on annual value above S$30,000 rise from 4% to 16% to 6% to 32%. The rise is phased over two steps, starting with tax payable in 2023.
Step 1 from 1 Jan 2023, final rates from 1 Jan 2024 (IRAS Budget 2022 overview of tax changes: https://www.iras.gov.sg/docs/default-source/budget-2022/budget-2022---overview-of-tax-changes69937d71-ba59-4b39-b1e5-7e85b2504e1c.pdf?sfvrsn=8339ba5a_5). Step 1 rates: owner-occupied top rate 23%; non-owner-occupied 11% to 27%.
2021
SupplyMND
Housing supply stepped up after December 2021 cooling measures
MND said HDB would launch up to 23,000 BTO flats a year in 2022 and 2023, and is prepared to launch up to 100,000 flats in total from 2021 to 2025 if needed. The 1H2022 Government Land Sales confirmed list rose to 2,785 private residential units from 2,000 in 2H2021.
BTO figures come from the minister's media briefing remarks of 16 Dec 2021. GLS figures come from the MND 1H2022 GLS release of 16 Dec 2021 (https://www.mnd.gov.sg/newsroom/press-releases/view/release-of-first-half-of-2022-government-land-sales-(gls)-programme). MND pages are JavaScript pages; text read through the MND site API.
ABSD rose to 17% (citizens, 2nd property), 25% (citizens 3rd and later; PRs 2nd), 30% (PRs 3rd and later; foreigners) and 35% (entities and developers, with the developer 5% non-remittable portion unchanged). TDSR fell from 60% to 55%, and the HDB loan LTV limit from 90% to 85%. Joint MOF, MND and MAS release.
LEAD-LIST DATE CONTRADICTED: lead gave 16 Dec 2021; MOF, MND and MAS releases are dated 15 Dec 2021 and the measures took effect 16 Dec 2021. ABSD applies where the OTP is granted on or after 16 Dec 2021 (old rates if OTP granted by 15 Dec 2021, exercised by 5 Jan 2022). TDSR applies to OTPs on or after 16 Dec 2021. HDB LTV applies to new flat applications for sales exercises launched after 16 Dec 2021 and complete resale applications from 16 Dec 2021. Bank LTV stayed at 75%. MAS copy: https://www.mas.gov.sg/news/media-releases/2021/measures-to-cool-the-property-market
HDBMND
Prime Location Public Housing (PLH) model announced
New public housing in prime central locations carries extra subsidies recovered on resale, resale limited to buyers who meet HDB purchase conditions (income ceiling currently S$14,000), a 10-year minimum occupation period and no renting out of the whole flat. First project at Rochor, Nov 2021 BTO exercise.
PLH is the 2021 model later folded into the Plus and Prime framework; the rule id hdb.mop.plus-prime is used for the 10-year MOP. Subsidy recovery percentage was left to the Nov 2021 BTO launch. Not retroactive to existing flat owners. MND page is a JavaScript page; text read through the MND site API.
OtherMND
Extension of COVID-19 relief for property developers (third extension)
A further 6-month extension to the Project Completion Period, to ABSD remission commencement and completion timelines for qualifying housing developers, and to Qualifying Certificate timelines. No further extension to the deadline to sell all units.
MOF copy of the joint release; MND copy dated 28 Jun 2021. Measures apply with immediate effect.
LendingMAS
MAS and industry extend property loan reduced instalment window to 30 Sep 2021
The application window for reduced property loan instalments (60% of the monthly instalment, until 31 Dec 2021) and other personal relief measures was extended from 30 Jun 2021 to 30 Sep 2021 for borrowers still in difficulty.
Window had been due to expire 30 Jun 2021. The release gives no start date for the extension, so effective_from is null.
HDBMND
MND Committee of Supply 2021: prime location housing model flagged, HFE letter planned
MND said HDB flats in prime locations need a new housing model and would consult the public first. HDB will add an HDB Flat Eligibility (HFE) letter to replace the HDB Loan Eligibility letter, plus integrated bank loan applications on the HDB Flat Portal later in 2021.
Also announced a pilot Joint Singles Scheme (operator-run) rental model. Details of the prime location model came on 27 Oct 2021. MND page is a JavaScript page; text read through the MND site API.
2020
OtherMND
Additional COVID-19 relief for property developers (second 6-month extension)
A further 6-month extension to the Project Completion Period, to ABSD remission timelines for commencement and completion, and to Qualifying Certificate completion timelines. No further extension to the deadline to sell all units.
MOF copy of the joint release; MND copy dated 8 Oct 2020. Measures apply with immediate effect. A separate MND release of 12 Oct 2020 widened the COVID-19 (Temporary Measures) Act to commercial and industrial OTP and SPA contracts; not listed here.
LendingMAS
MAS and industry: reduced instalment plans for property loans
Extended support for borrowers who cannot resume full repayments: reduced instalments pegged at 60% of the monthly instalment for up to 9 months on residential, commercial and industrial property loans, for those with income loss of at least 25%. Applications from 9 Nov 2020 to 30 Jun 2021.
Original deferral relief was due to expire 31 Dec 2020. The release body does not mention TDSR or MSR.
OtherMND
COVID-19 relief for property developers and ABSD remission timelines
Immediate 6-month extensions to the Project Completion Period, to ABSD remission timelines for housing developers, to Qualifying Certificate timelines for foreign developers, and to the sale deadline of the first property for married couples claiming ABSD remission on a second property. Cooling measures were not changed.
MOF copy of the joint release; MND copy at https://www.mnd.gov.sg/newsroom/press-releases/view/temporary-relief-measures-for-property-sector-due-to-coronavirus-disease-2019-(covid-19)-pandemic (dated 6 May 2020). Measures apply with immediate effect.
LendingMAS
MAS second COVID-19 package: refinancing investment property loans without TDSR or MSR
Individuals with investment property loans out of lock-in can refinance or reprice without meeting TDSR and MSR, up to 31 Dec 2020. Deferral extends to commercial and industrial property loans and to mortgage equity withdrawal loans, and MAS waived TDSR for withdrawal loans with LTV of 50% or less.
Applications for these reliefs start from 6 May 2020 (tenure extension for debt consolidation plans from 18 May 2020). Later MAS pages show the refinancing waiver extended to 30 Sep 2021; the release that extended it was not pinned down.
LendingMAS
MAS and industry: deferral of residential mortgage payments (COVID-19)
Individuals with residential property loans can defer principal, or principal and interest, up to 31 Dec 2020, with no interest charged on deferred interest. Lenders approve if the borrower is not more than 90 days in arrears as at 6 Apr 2020, and no proof of COVID-19 impact is needed.
Lead list said Apr 2020; MAS release is dated 31 Mar 2020. Opt-in relief by banks and finance companies, announced with ABS, LIA, GIA and FHAS. The release gives 6 Apr 2020 as the arrears test date; it does not give a start date for mortgage deferment applications, so effective_from is null. MAS issued related notices on 5 Apr 2020 (not opened).
TaxMOF
Resilience Budget: property tax rebate up to 100% for non-residential properties
For 2020, qualifying commercial properties hit hard by COVID-19 (hotels, serviced apartments, tourist attractions, shops, restaurants) pay no property tax, and other non-residential properties such as offices and industrial get a 30% rebate. The statement also suspends late payment charges on HDB mortgage arrears for three months.
Enhances the Unity Budget rebate (15% to 30%). The IRAS page on the Resilience, Solidarity and Fortitude Budgets gives the rebate period as 1 Jan 2020 to 31 Dec 2020. The Solidarity Budget (6 Apr 2020) added a rule that owners pass the rebate to tenants; not listed as a separate event.
HDBMND
MND Committee of Supply 2020: Silver Housing Bonus and Lease Buyback bonus raised
The Silver Housing Bonus rose from S$20,000 to S$30,000, with one top-up of S$60,000 to the CPF Retirement Account and no need to sell a larger flat. Maximum Lease Buyback Scheme bonuses rose 50% to S$30,000, S$15,000 and S$7,500 by flat size. HDB will drop Re-Offer of Balance Flats exercises and let unwed parents aged 21 and above buy a 3-room flat in non-mature estates.
SHB and LBS changes take effect from 4 Mar 2020; applicants awaiting a bonus get the enhanced amount from 1 Apr 2020. MND page is a JavaScript page; text read through the MND site API.
TaxMOF
Budget 2020 (Unity Budget): property tax rebate for non-residential properties
The Unity Budget announced a Property Tax Rebate for 2020 of 15% to 30% for qualifying non-residential properties, later enhanced on 26 Mar 2020.
The source page (26 Mar 2020 Resilience Budget statement) states the 15% to 30% rebate was announced in the Unity Budget. The Unity Budget date of 18 Feb 2020 is stated in IRAS guide Property Tax Rebate for Non-Residential Properties in 2020 (https://www.iras.gov.sg/media/docs/default-source/e-tax/property-tax-rebate-for-non-residential-properties-in-2020-(fifth-edition).pdf?sfvrsn=c22cb8f_4) and on the MOF Budget 2020 release. The Unity Budget page itself does not mention the rebate, so no per-property-type split is given here.
2019
HDBMND
Enhanced CPF Housing Grant and higher HDB and EC income ceilings
A new Enhanced CPF Housing Grant (EHG) replaces the Additional and Special CPF Housing Grants: up to S$80,000 for first-timer families (household income S$9,000 or less) and up to S$40,000 for first-timer singles aged 35 and above earning up to S$4,500. Income ceilings rise from S$12,000 to S$14,000 (HDB flats, resale grants, HDB loans), from S$6,000 to S$7,000 (singles) and from S$14,000 to S$16,000 (ECs from developers).
Announced by Minister Lawrence Wong on the evening of 10 Sep 2019; EHG and new ceilings from 11 Sep 2019. Full EHG needs a flat whose lease covers the buyers to age 95, otherwise pro-rated. Lead-list date of 11 Sep 2019 is the effective date. MND page is a JavaScript page; text read through the MND site API.
CPFMND
CPF usage and HDB loan rules tied to remaining lease covering age 95
Maximum CPF use and the full 90% HDB loan LTV now depend on the remaining lease covering the youngest buyer to age 95; otherwise the amounts are pro-rated. The minimum remaining lease for CPF use falls from 30 to 20 years. Withdrawals above the Basic Retirement Sum after age 55 need a property whose lease covers the member to age 95.
Rules take effect from 10 May 2019. Previously the CPF test used age 80 and a 30-year minimum lease. MND page is a JavaScript page; text read through the MND site API. A matching CPF Board page exists but was not opened.
HDBMND
MND Committee of Supply 2019: BTO announced 6 months ahead, Step-Up Grant widened
From May 2019 HDB announces BTO projects six months ahead and cuts balloting time from 6 to 3 weeks. The S$15,000 Step-Up CPF Housing Grant extends to 3-room resale flats in non-mature estates and to second-timer rental families buying 2-room or 3-room flats. The Fresh Start child age limit rises from 16 to 18.
Step-Up grant revisions take effect from the May 2019 sales exercise (exact day not stated on the page). MND page is a JavaScript page; text read through the MND site API.
2018
Cooling measureMND
Property cooling measures, July 2018: higher ABSD and lower LTV limits
ABSD rose to 12% (citizens, 2nd property), 15% (citizens 3rd and later; PRs 2nd and later), 20% (foreigners) and 25% (entities); developers pay an extra 5% that cannot be remitted. Bank LTV limits fell by 5 pp to 75%, 45% and 35% for the 1st, 2nd and 3rd and later housing loans (55%, 25% and 15% for long tenures). First-property ABSD stayed at 0% for citizens and 5% for PRs. Joint MOF, MND and MAS release.
MOF and MAS texts are dated 5 Jul 2018; the MAS page metadata shows published date 6 Jul 2018. Rates and LTV apply where the OTP is granted on or after 6 Jul 2018. Transitional rule: old ABSD applies if OTP granted by 5 Jul 2018 and exercised by 26 Jul 2018. Mortgage equity withdrawal LTV also cut to 75% and 45%. MAS copy: https://www.mas.gov.sg/news/media-releases/2018/raising-additional-buyers-stamp-duty-rates-and-tightening-loan-to-value-limits
HDBMND
MND Committee of Supply 2018: deferred income assessment, end of divorce time-bar
MND announced about 3,000 flats with shorter waiting time by 2019, deferred income assessment for young first-timer couples (students, NSmen, recent graduates), and removal of the 3-year time-bar on subsidised flat purchase after divorce. The Fresh Start Housing Scheme rental requirement was cut from two years to one.
The divorce time-bar removal applies to flat applications received on or after 6 Mar 2018; deferred income assessment applies from the May 2018 sales exercise. MND page is a JavaScript page; text read through the MND site API.
HDBMND
Budget 2018: Proximity Housing Grant enhanced
The Proximity Housing Grant for families buying a resale flat to live with parents or children rose from S$20,000 to S$30,000; living near stays at S$20,000. Singles aged 35 and above buying to live with parents get S$15,000 (up from S$10,000), and singles buying near parents get a new S$10,000. The proximity test became within 4 km.
Announced in the Budget Statement of 19 Feb 2018; applies to resale applications received on or after 3.30 pm, 19 Feb 2018. The 4 km proximity rule also applies to the Married Child Priority Scheme and Senior Priority Scheme from the May 2018 BTO and SBF exercise. MND page is a JavaScript page; text read through the MND site API.
Stamp dutyMOF
Budget 2018: top BSD rate raised to 4% above S$1m
Budget 2018 raised the top marginal Buyer's Stamp Duty rate from 3% to 4% on the part of a residential property's value above S$1 million, for residential properties acquired on or after 20 Feb 2018. Non-residential BSD rates did not change. The 3% tier now applies to the next S$640,000 (S$360,000 to S$1m).
MOF release is dated 19 Feb 2018 (Budget day); rates apply to acquisitions from 20 Feb 2018. Transitional rule: old rates apply if the OTP was granted on or before 19 Feb 2018 and exercised by 12 Mar 2018. Lead-list date of 20 Feb 2018 is the effective date, not the announcement date.
2017
Cooling measureMND
SSD holding period cut to 3 years; TDSR relaxed for equity withdrawal
Seller's Stamp Duty now applies only to residential property sold within 3 years (was 4), at 12% / 8% / 4% for sale in year 1 / 2 / 3, for property bought on or after 11 Mar 2017. MAS stopped applying TDSR to mortgage equity withdrawal loans with LTV of 50% or below, while ABSD rates and LTV limits stayed unchanged.
LEAD-LIST DATE CONTRADICTED: lead 11 Mar 2017; the joint press release dateline is 10 March 2017 and the changes take effect from 11 March 2017. Same release tabled the Stamp Duties (Amendment) Bill so that significant owners of residential property-holding entities pay stamp duty on equity transfers (para 7 and 8). Old SSD rates were 16% / 12% / 8% / 4% for years 1 to 4. The MND copy is at https://www.mnd.gov.sg/newsroom/press-releases/view/joint-press-release-on-measures-relating-to-residential-property .
HDBMND
Committee of Supply 2017: help for first-time buyers and right-sizing elderly
MND announced BTO flats with shorter waiting time (first 1,000 units in 2018), a 95% family quota for 4-room and larger flats in those projects, a Deferred Downpayment Scheme for elderly right-sizers from the May 2017 BTO and SBF exercises, and a Temporary Loan Scheme for resale transactions from 8 Mar 2017. Parenthood Provisional Housing Scheme rents were cut by S$200 to S$400 from 1 Apr 2017.
Two MND releases on the same day: https://www.mnd.gov.sg/newsroom/press-releases/view/more-help-for-first-time-home-buyers-to-get-a-flat-earlier and https://www.mnd.gov.sg/newsroom/press-releases/view/more-help-for-the-elderly-who-are-right-sizing . Page text read through the MND site API.
HDBMND
Budget 2017: CPF Housing Grant raised for first-timer resale buyers
For resale applications received on or after 3.30pm on 20 Feb 2017, the CPF Housing Grant for first-timer families rose from S$30,000 to S$50,000 for 4-room or smaller flats and S$40,000 for 5-room or larger flats. For first-timer singles it rose from S$15,000 to S$25,000 (4-room or smaller) and S$20,000 (5-room), taking the maximum grants to S$110,000 for families and S$55,000 for singles.
Announced by the Minister for Finance in the Budget Statement; the Budget 2017 statement para D.8 confirms the change (https://isomer-user-content.by.gov.sg/153/5cd379e8-67d4-4388-8838-b778a39fb904/fy2017_budget_statement.pdf). The maximum totals include the Additional CPF Housing Grant and Proximity Housing Grant. Page text read through the MND site API.
2016
HDBMND
Fresh Start Housing Scheme opens for application
Applications for the Fresh Start Housing Scheme opened on 1 Dec 2016. Families apply to HDB and are emplaced on the scheme before they can apply for a 2-room Flexi flat in a BTO or Sale of Balance Flats exercise, within 1 year of emplacement.
Implementation notice for the scheme announced on 11 Apr 2016. Page text read through the MND site API.
LendingMAS
MAS fine-tunes TDSR rules on refinancing
MAS extended the TDSR refinancing exemption to all owner-occupied residential loans, including those bought after TDSR began (and the 30% MSR limit likewise for owner-occupied HDB and EC loans). Investment property loans can be refinanced above the 60% TDSR if the borrower commits to repay at least 3% of the outstanding balance within no more than 3 years and passes the lender's credit assessment.
MAS states this is not a relaxation of the cooling measures and that TDSR still applies to new property loans. The release dateline is 1 September 2016 and the annex says 'with effect from 1 September 2016'; the MAS macroprudential page https://www.mas.gov.sg/publications/macroprudential-policies-in-singapore labels it 'published on 2 September 2016'. Supersedes the transition period in the 10 Feb 2014 release.
HDBMND
Committee of Supply 2016: Fresh Start Housing Scheme announced
MND announced the Fresh Start Housing Scheme for second-timer public rental families with young children: a 2-room Flexi flat on a 45 to 65 year lease, another HDB concessionary loan, a resale levy capped at S$30,000 (99-year lease) and a Fresh Start Housing Grant of S$35,000 for a 60 or 65 year lease. The Tenants' Priority Scheme was extended to second-timer rental families from the May 2016 sales exercises.
Scheme to start in late 2016 (opened 1 Dec 2016); Tenants' Priority Scheme extension from the May 2016 sales exercises, no exact day given. Minimum Occupation Period for Fresh Start flats is 20 years. Page text read through the MND site API.
2015
HDBMND
HDB and EC income ceilings and housing grants raised, August 2015
From 24 Aug 2015 the income ceiling for families buying new HDB flats or resale flats with the CPF Housing Grant rose from S$10,000 to S$12,000 (singles S$5,000 to S$6,000) and the EC ceiling from S$12,000 to S$14,000. A S$20,000 Proximity Housing Grant (singles S$10,000) replaced the Higher-Tier CPF Housing Grant, and from the Sep 2015 BTO exercise the Special CPF Housing Grant doubled to a maximum of S$40,000 with its income ceiling raised from S$6,500 to S$8,500.
Joint MND and HDB release. Elderly income ceilings for Lease Buyback, Silver Housing Bonus and short-lease 2-room Flexi flats also rose from S$10,000 to S$12,000. The release also says MND and HDB were studying a Fresh Start Housing Scheme. Page text read through the MND site API.
HDBMND
2-room Flexi Scheme introduced
MND and HDB merged the 2-room flat and Studio Apartment schemes into the 2-room Flexi Scheme, with 99-year flats for families and singles and short-lease flats (15 to 45 years) for citizens aged 55 and above. At least 40% of 2-room Flexi flats in a BTO project go to the elderly.
Implemented from the September 2015 BTO exercise (para 15); no single effective date is given. Page text read through the MND site API.
OtherMND
Housing developers must report weekly sales data
From 25 May 2015 housing developers must submit unit-level sales volumes and prices to the Controller of Housing every week, published by URA from 5 Jun 2015. The Option to Purchase and Sale and Purchase forms and new show unit rules take effect on 20 Jul 2015.
Implements the April 2013 amendments to the Housing Developers (Control and Licensing) Act. Page text read through the MND site API.
HDBMND
Committee of Supply 2015: housing measures
MND confirmed the enhanced Lease Buyback Scheme from 1 Apr 2015 (4-room flats, income ceiling for Lease Buyback and Silver Housing Bonus from S$3,000 to S$10,000) and raised the singles quota for 2-room BTO flats in non-mature estates from 30% to up to 50% from the May 2015 BTO exercise. MND also said it would study a new 2-room flat scheme and help for households just above the income ceiling.
Page text read through the MND site API (https://www.mnd.gov.sg/api/articles); the page itself renders in JavaScript. Income ceiling was last raised in 2011 (raised in Aug 2015, see the 24 Aug 2015 event).
2014
HDBHDBUnverified
Lease Buyback Scheme and Silver Housing Bonus enhancements announced
MND and HDB announced four enhancements: Lease Buyback extended to 4-room flats, the income ceiling for Lease Buyback and the Silver Housing Bonus raised from S$3,000 to S$10,000, a lower CPF top-up for households with two or more owners, and a choice of lease length from 15 to 35 years.
The date 3 Sep 2014 comes from a search engine summary of the original HDB InfoWEB release https://www20.hdb.gov.sg/fi10/fi10296p.nsf/PressReleases/8891D802BA22AA6E48257D4800212EEA?OpenDocument . That host no longer resolves, so the release could not be opened. The four enhancements and the 1 Apr 2015 start are confirmed on the MND COS 2015 page in source_url, which calls them 'previously announced'.
Budget 2014 restated Buyer's Stamp Duty as 1% on the first S$180,000, 2% on the next S$180,000 and 3% on the remainder, the same levels as the old S$1, S$2 and S$3 per S$100. Stamp duty on leases moved to 0.4% of total rent for terms up to four years, for instruments executed on or after 22 Feb 2014.
Stamp duty table in the Budget 2014 Annex (Ministry of Finance, Stamp Duties, item 1). The delivery date of 21 Feb 2014 is on the MOF notice https://www.mof.gov.sg/news-resources/newsroom/2014-budget-statement-to-be-delivered-at-3-30pm-on-friday-21-february-2014/ (the PDF text does not print it). Para A.12 of the statement says it is too early to relax the cooling measures. The change is presentational for BSD; it is recorded so the rate history is complete. The PDF is on MOF's Isomer content host.
LendingMAS
MAS broadens TDSR exemption for refinancing
MAS exempted owner-occupied properties bought before 29 Jun 2013 from the 60% TDSR when refinancing, even if the owner has other property or loans. Refinancing of investment property loans above 60% TDSR was allowed until 30 Jun 2017 under a debt reduction plan.
The MSR and tenure limits likewise do not apply when refinancing owner-occupied properties bought before their start dates (footnotes 2 to 4). Revised rules took immediate effect. Superseded for investment loans by the 1 Sep 2016 release.
2013
Cooling measureMND
Executive Condominium scheme refined, December 2013
MND cut the EC cancellation fee from 20% to 5% of the purchase price, required second-timers who buy ECs directly from developers to pay a resale levy, and MAS capped the MSR at 30% for bank loans to buy ECs directly from developers.
Press release dated 9 Dec 2013 (Monday). The MSR cap applies where the OTP is granted on or after 10 Dec 2013; the cancellation fee and resale levy apply to EC land sales launched on or after 9 Dec 2013. The copy is hosted by MAS; the original MND page was not found (the MND site API returns no articles dated before Jan 2015).
Cooling measureMND
HDB loan and resale measures, August 2013
MND and HDB cut the maximum HDB loan tenure from 30 to 25 years and the HDB loan MSR limit from 35% to 30%, and MAS cut the maximum bank-loan tenure for HDB flats from 35 to 30 years (60% LTV for a borrower with no other loan if tenure exceeds 25 years). SPR households must wait 3 years before buying a resale flat, the Special CPF Housing Grant income ceiling rose from S$2,250 to S$6,500 and a S$15,000 Step-Up CPF Housing Grant was added.
LEAD-LIST DATE CONTRADICTED: lead 28 Aug 2013; the joint MND and HDB press release is dated 27 Aug 2013 (embargoed until 5:30pm) and the HDB-side changes and the SPR 3-year wait apply from 27 Aug 2013 5:30pm. The bank-loan terms apply to OTPs granted on or after 28 Aug 2013 (Annex C); this is why MAS sources show 28 Aug. The SHG and Step-Up grant changes start from the Jul 2013 BTO exercise. This copy of the press release is hosted by MAS; the original MND or HDB page was not found. The MAS page https://www.mas.gov.sg/publications/macroprudential-policies-in-singapore also lists it as an August 2013 measure.
LendingMAS
MAS introduces the Total Debt Servicing Ratio (TDSR) framework
MAS required financial institutions to compute a TDSR for all property loans to individuals and expects loans not to exceed a TDSR of 60% of gross monthly income. The computation uses a medium-term interest rate of 3.5% for housing loans (4.5% for non-residential), and LTV rules were refined to stop circumvention of the tighter limits on second and later loans.
LEAD-LIST DATE CONTRADICTED: lead 29 Jun 2013; the release dateline is 28 June 2013 and para 10 says the rules take effect from 29 June 2013. The MAS page https://www.mas.gov.sg/publications/macroprudential-policies-in-singapore labels the release 'published on 29 June 2013'. Interest rate floor and TDSR threshold are in footnote 5 and para 8 of the release. Refinancing of existing loans was exempted if conditions in the MAS guidelines were met.
TaxMOF
Budget 2013: more progressive residential property tax
Budget 2013 widened the 0% owner-occupier band from the first S$6,000 to S$8,000 of annual value and added owner-occupier rates of 8% to 16% for higher annual values. Non-owner-occupied residential property, taxed at a flat 10%, gets new marginal rates of 12% to 20% for annual value above S$30,000, and vacancy refunds end.
Budget Speech 2013, delivered in Parliament on 25 Feb 2013 (paras D.55 to D.73). Phased in over two years from 1 Jan 2014, full effect from 1 Jan 2015 (para D.70); vacancy refund removed from 1 Jan 2014 (para D.72 and D.73). The speech does not list every bracket. The IRAS page https://www.iras.gov.sg/taxes/property-tax/property-owners/property-tax-reliefs/lower-property-tax-rates-for-owner-occupied-residential-properties shows the owner-occupier schedule effective 1 Jan 2015 to 31 Dec 2022 (0% first S$8,000, 4% next S$47,000, then 6%, 8%, 10% and higher tiers). The PDF is on MOF's Isomer content host, not on mof.gov.sg.
Cooling measureMND
Property cooling measures, January 2013
Joint MOF, MND, MAS and MTI package. ABSD rose to 0%/7%/10% for citizens (1st/2nd/3rd+ property), 5%/10%/10% for PRs and 15% for foreigners and entities; LTV fell to 50% (2nd loan) and 40% (3rd+ loan) with a 25% minimum cash down payment, and MAS capped the MSR at 30% for bank loans to buy HDB flats (HDB loan MSR cut from 40% to 35%).
Dateline 11 Jan 2013; measures effective 12 Jan 2013 (LEAD-LIST 12 Jan is the effective date). Annexes I to IV read at https://www.mas.gov.sg/-/media/MAS/resource/news_room/press_releases/2013/Annex-I.pdf (II, III, IV same folder). Also in the package: LTV 30%/20% where tenure exceeds 30 years or the loan runs past age 65, LTV 20% for non-individuals; industrial SSD 15%/10%/5% for holding periods of up to 1, 2 and 3 years on property bought on or after 12 Jan 2013 (rates confirmed on IRAS page https://www.iras.gov.sg/taxes/stamp-duty/for-property/selling-or-disposing-property/seller's-stamp-duty-(ssd)-for-industrial-property because the table does not render in the MAS page text); PRs owning HDB flats cannot sublet the whole flat and must sell the flat within 6 months of buying private property; EC rules (160 sqm cap, dual-key restricted, 15-month launch rule); from 1 Jul 2013 CPF and HDB loan limits for flats with under 60 years of lease. ABSD transition: an OTP granted on or before 11 Jan 2013 and exercised by 1 Feb 2013 could claim the old rate.
2012
HDBHDB
Silver Housing Bonus and Lease Buyback Scheme made more attractive, December 2012
The CPF top-up needed for the Silver Housing Bonus fell to S$60,000 per household (cash proceeds kept capped at S$100,000 for those below the Minimum Sum), and the S$20,000 bonus is paid fully in cash. The enhanced Lease Buyback Scheme lifts its bonus from S$10,000 to S$20,000 in cash, lowers the top-up and relaxes eligibility. Applications open 1 Feb 2013.
Archived copy of the HDB InfoWEB release dated 27 Dec 2012 (original page retired). Eligible elderly whose first housing transaction was on or after 17 Feb 2012 can apply.
LendingMAS
Maximum loan tenure of 35 years and tighter LTV limits, October 2012
MAS capped the tenure of all new residential property loans (including refinancing) at 35 years from 6 Oct 2012. For loans over 30 years, or running past age 65, the LTV limit is 60% with no outstanding housing loan and 40% with one or more. The LTV limit for non-individual borrowers fell from 50% to 40%. The rules cover private homes and HDB flats.
The current MAS page shows its date as 06 Oct 2012, but the archived original (web.archive.org/web/20190614022249/http://www.mas.gov.sg:80/news-and-publications/media-releases/2012/MAS-Restricts-Loan-Tenure-for-Residential-Properties.aspx) reads 'Singapore, 5 October 2012', and MAS Notice 632 was last revised on 5 Oct 2012. Rules apply where the option to purchase (or sale and purchase agreement) is dated on or after 6 Oct 2012; for refinancing, where the application date is on or after 6 Oct 2012.
HDBHDB
Special CPF Housing Grant extended to 3-room flats for lowest-income buyers
The S$20,000 Special CPF Housing Grant for first-timer households earning S$1,500 or less, previously limited to 2-room standard flats in non-mature estates, was extended to 3-room standard flats in non-mature estates from the July 2012 BTO launch. Total AHG plus SHG for these households is S$60,000.
Archived copy of the HDB InfoWEB release dated 31 Jul 2012 (original page retired). The release states the change 'will take effect from the July BTO launch' (launched 31 Jul 2012).
HDBHDB
HDB subletting rule for permanent residents tightened, July 2012
SPR flat owners may sublet after meeting the MOP only if they have not sublet before. Approval is for 1 year instead of 3, extensions need extenuating reasons, and total subletting over the period of ownership is capped at 5 years. Rules for citizens are unchanged.
Archived copy of the HDB InfoWEB release (original page retired). The release also reports enforcement figures: 7,000 inspections and 56 owners acted on in 2011.
HDBHDB
HDB 2-room income ceiling in mature estates raised to S$5,000
The monthly income ceiling for 2-room flats in mature towns and estates rose from S$2,000 to S$5,000 (non-mature estates stay at S$2,000). Buyers who book a flat and then cancel are barred from applying for a new HDB flat, DBSS flat, EC or resale flat with grants for 1 year, with exceptions.
Archived copy of the HDB InfoWEB release dated 28 Mar 2012, issued with the March 2012 BTO/SBF launch (original page retired). The page gives no separate effective date; the launch date is used.
HDBHDB
HDB family priority schemes enhanced, March 2012
A Multi-Generation Priority Scheme lets parents and a married child apply jointly for flats in the same BTO project. Ballot chances under the Married Child Priority Scheme for first-timers applying to live together rose from 4 to 6 (second-timers 2 to 3), and 30% of 2012 BTO flats were planned in mature estates.
Archived copy of the HDB InfoWEB release (original page retired). The release says the measures take effect from the March 2012 BTO exercise, which HDB launched on 28 Mar 2012.
HDBHDB
HDB and EC allocation for second-timers raised, March 2012
The share of BTO flats in non-mature estates set aside for second-timers tripled from 5% to 15%. The share of new EC units reserved for second-timers in the first month of sale rose from 5% to 30%.
Archived copy of the HDB InfoWEB release (original page retired). Announced in Parliament by the Minister for National Development. The BTO change applies from the March 2012 sales exercise; the EC change applies with immediate effect, including to projects already in their first month of sale.
HDBMOF
Budget 2012: Silver Housing Bonus and enhanced Lease Buyback Scheme
Budget 2012 introduced a Silver Housing Bonus of S$20,000 (S$15,000 cash and S$5,000 to CPF) for older Singaporeans who sell their flat and buy a 3-room or smaller HDB flat, with sale proceeds used to top up CPF savings to the Minimum Sum. It also doubled the Lease Buyback Scheme incentive from S$10,000 to S$20,000.
Budget speech delivered in Parliament on 17 Feb 2012. A later HDB release (27 Dec 2012) says eligible elderly whose first housing transaction was on or after 17 Feb 2012 can apply, with applications opening 1 Feb 2013.
2011
Cooling measureMOF
Additional Buyer's Stamp Duty introduced, December 2011
An Additional Buyer's Stamp Duty (ABSD) applies on top of Buyer's Stamp Duty from 8 Dec 2011: 10% for foreigners and non-individuals buying any residential property, 3% for PRs buying a second or later property, and 3% for citizens buying a third or later property. HDB flat purchases are not affected.
Issued by MOF and MND, dated 7 Dec 2011. Remission for options granted on or before 7 Dec 2011 and exercised by 28 Dec 2011 (or the option validity period, if earlier). Reliefs promised for qualifying developers and for Singaporean-foreigner/PR married couples; details were to follow on the IRAS website. The release also plans 1H2012 GLS supply of 14,100 private units and up to 5,000 EC units for 2012. Same release is on mas.gov.sg under media-releases/2011/absd-for-a-stable-and-sustainable-property-market.
HDBHDB
HDB income ceilings raised, August 2011
The monthly income ceiling rose from S$8,000 to S$10,000 for new HDB flats, resale flats with CPF Housing Grant and HDB loans (extended families S$12,000 to S$15,000), and from S$10,000 to S$12,000 for new ECs with a tiered grant of S$30,000, S$20,000 or S$10,000. Single citizens' resale ceiling rose from S$3,000 to S$5,000 with the grant from S$11,000 to S$15,000, and the Joint Singles and Studio Apartment ceilings from S$8,000 to S$10,000.
Archived copy of the HDB InfoWEB release dated 15 Aug 2011 (original page retired). Immediate effect for applications received from 15 Aug 2011; for ECs, projects launched for public sale from 15 Aug 2011. The DBSS ceiling stayed at S$10,000. The MOF/MND ABSD release of 7 Dec 2011 also confirms the EC ceiling change to S$12,000 in Aug 2011.
LendingMASUnverified
MAS LTV limits extended to loans secured by residential property, July 2011
From 27 Jul 2011, for credit facilities that are not used to buy a home but are secured by residential property, the LTV limit is 80% for borrowers with no outstanding housing loan and 60% for borrowers with one or more outstanding loans.
No media release or announcement page found. The date is the effective date from MAS Notice 632 amendment history ('MAS Notice 632 (Amendment) 2011 with effect from 27 July 2011'), so the announcement date may be earlier. The scope description comes from the LTV table in that Notice (application date on or after 27 Jul 2011, credit facility otherwise secured by residential property).
HDBHDB
HDB income ceiling for 3-room standard flats in non-mature estates raised to S$5,000
The monthly household income ceiling to buy 3-room standard flats in non-mature estates rose from S$3,000 to S$5,000. HDB also planned about 14,000 BTO flats in 1H2011 (up to 22,000 for the year) and shortened the BTO selection timeline.
Archived copy of the HDB InfoWEB release (original page retired). The new ceiling applies to the BTO projects at Sengkang and Bukit Panjang launched on 28 Feb 2011, so 3 Mar 2011 is used as the effective date.
HDBHDB
Special CPF Housing Grant details, March 2011
The Special CPF Housing Grant (SHG), on top of the AHG, is S$20,000 for income up to S$1,500 (2-room standard flats in non-mature estates), S$15,000 for S$1,501 to S$1,750, S$10,000 for S$1,751 to S$2,000 and S$5,000 for S$2,001 to S$2,250 (3-room standard flats). It applies to first-time buyers of new HDB flats in non-mature estates and takes effect from 3 Mar 2011.
Archived copy of the HDB InfoWEB release (original page retired). One flat buyer must have worked continuously for at least one year. Announced by the Minister for National Development in Parliament (Committee of Supply).
HDBMOF
Budget 2011: Special CPF Housing Grant announced
Budget 2011 announced a Special CPF Housing Grant (SHG) for low-income families making a first-time purchase of a Build-To-Order flat, on top of the existing Additional CPF Housing Grant, for families earning up to S$2,250 a month (about S$175 million of grants a year).
Budget statement delivered in Parliament on 18 Feb 2011. Details were given by the Minister for National Development on 3 Mar 2011 (separate event).
Cooling measureMND
Property cooling measures, January 2011
SSD rose to 16%, 12%, 8% and 4% of the full consideration for residential property sold in years 1, 2, 3 and 4 after purchase (bought on or after 14 Jan 2011). The LTV limit fell to 50% for non-individual purchasers and from 70% to 60% for individuals with one or more outstanding housing loans. HDB loans stay at 90% LTV.
Joint release by MND, MOF and MAS dated 13 January 2011; measures take effect 14 Jan 2011. Borrowers who show evidence of having sold their existing property keep the 80% LTV. Same release is on mas.gov.sg under media-releases/2011/measures-to-maintain-a-stable-and-sustainable-property-market. MAS Notice 632 is dated 13 Jan 2011.
2010
HDBHDB
HDB measures after National Day Rally 2010: DBSS income ceiling, 5-year MOP for non-subsidised flats
Households earning S$8,000 to S$10,000 may buy new DBSS flats with a S$30,000 CPF Housing Grant (no HDB loan). The MOP for resale and subletting of non-subsidised flats rose from 3 to 5 years. Buyers of non-subsidised flats may not own private residential property within the MOP and must dispose of existing private property within 6 months of the flat purchase.
Archived copy of the HDB InfoWEB release dated 30 Aug 2010 (original page retired). It says the Prime Minister announced the measures at the National Day Rally on 29 Aug 2010. DBSS change applies to projects launched after 30 Aug 2010; MOP changes apply to resale applications received from 30 Aug 2010. The release also states HDB would offer more than 16,000 new flats in 2010 and up to 22,000 in 2011.
Cooling measureMND
Property cooling measures, August 2010
The SSD holding period rose from 1 year to 3 years for property bought on or after 30 Aug 2010 (full rate in year 1, two-thirds in year 2, one-third in year 3). For buyers with one or more outstanding housing loans, minimum cash payment rose from 5% to 10% of the valuation limit and the LTV limit fell from 80% to 70%. HDB loans stay at 90% LTV.
Joint release by MND, MOF and MAS, immediate effect. Same text is on mas.gov.sg under media-releases/2010/measures-to-maintain-a-stable-and-sustainable-property-market. The release says SSD does not affect HDB lessees because the MOP is at least 3 years.
HDBHDB
HDB: SC/SPR household subsidy cut by S$10,000, SPR quota and EIP change, March 2010
HDB withheld S$10,000 of housing subsidy from households of a Singapore citizen and a Singapore permanent resident (grant reduced by S$10,000 for resale, DBSS and EC; S$10,000 premium on new flats), restorable on citizenship. It added a quota for non-Malaysian SPR households of 5% per neighbourhood and 8% per block, and raised the Indian/Others ethnic limits to 12% and 15%.
Archived copy of the HDB InfoWEB release (original page retired). The release says the changes are implemented with immediate effect.
HDBHDB
HDB second concessionary loan policy revised, March 2010
HDB removed the condition that a buyer must upgrade to get a second concessionary loan. It also cut the second loan by all CPF proceeds and part of the cash proceeds from the sale of the past flat; buyers keep the greater of S$25,000 or half of the cash proceeds.
Archived copy of the HDB InfoWEB release (original page retired). The release says 'immediate effect' from the date of announcement. Buyers who sold their private property stay ineligible for a second concessionary loan.
HDBHDB
HDB minimum occupation period for non-subsidised resale flats raised to 3 years
The minimum occupation period (MOP) for resale of non-subsidised HDB flats (resale flats bought without a CPF housing grant) rose from 1 year (bank loan or no loan) or 2.5 years (HDB loan) to 3 years. Subsidised flats keep the 5-year MOP.
Archived copy of the HDB InfoWEB release (original page retired). Announced in Parliament by the Minister for National Development. Applies to resale applications received by HDB from 5 Mar 2010; existing lessees keep their original MOP.
TaxMOF
Budget 2010: progressive property tax for owner-occupied homes
Budget 2010 replaced the flat 4% owner-occupier property tax rate and the 1994 rebates with three tiers for property tax payable from January 2011: 0% on the first S$6,000 of Annual Value, 4% on the next S$59,000 and 6% on the balance above S$65,000.
MOF press release dated 22 Feb 2010 summarising the Budget Statement. The effective date is given as 'property tax payable from January 2011'; 2011-01-01 is the first day of that year. Other properties stayed at 10%.
Cooling measureMND
Seller's Stamp Duty introduced and LTV limit cut to 80%, February 2010
A Seller's Stamp Duty (SSD) of 1% on the first S$180,000, 2% on the next S$180,000 and 3% on the balance applies to residential property bought on or after 20 Feb 2010 and sold within 1 year. The LTV limit for housing loans from MAS-regulated lenders fell from 90% to 80%; HDB loans stay at 90%.
Joint release by MND, MOF and MAS. SSD does not apply to HDB flats (minimum occupation period applies); it does apply to resale ECs and HUDC flats. The 80% LTV covers private homes, ECs, HUDC and HDB flats (incl. DBSS) when the option to purchase is dated on or after 20 Feb 2010. The release does not mention a minimum cash down payment (see notes file). Same release is on mas.gov.sg under media-releases/2010/measures-to-ensure-a-stable-and-sustainable-property-market.
2009
Cooling measureMND
Interest-only loans and Interest Absorption Scheme disallowed, September 2009
MAS disallowed the Interest Absorption Scheme and interest-only housing loans with immediate effect. The Government also said it would reinstate the Confirmed List of the Government Land Sales Programme in 1H2010 and would not extend the property-related Budget 2009 assistance measures when they expire (Jan 2010 and Jan 2011).
Joint release by MND, MOF, Ministry of Law and MAS. The scheme ban applies to all private residential projects except uncompleted projects whose units were already offered under the scheme before 14 Sep 2009. Page read through WebFetch because curl to mas.gov.sg returns a maintenance page.
HDBHDB
Enhanced Additional CPF Housing Grant, February 2009
The Additional CPF Housing Grant (AHG) income ceiling rose from S$4,000 to S$5,000 and the maximum grant from S$30,000 to S$40,000, and the continuous-employment condition fell from 2 years to 1 year. It applies to new and DBSS flat bookings and resale applications on or after 6 Feb 2009.
Archived copy of the HDB InfoWEB press release (the original www.hdb.gov.sg/fi10 page is retired). The release says the Minister for National Development announced the details in Parliament that day. It states AHG was first introduced on 3 Mar 2006 and enhanced in Aug 2007. Budget 2009 had announced the increase on 22 Jan 2009.
TaxMOF
Budget 2009: property tax rebates, developer relief and higher Additional CPF Housing Grant
Budget 2009 gave a 40% property tax rebate for owner-occupied homes and for industrial and commercial properties for 2009, and removed income tax on Net Annual Value from Year of Assessment 2010. It also deferred property tax on land approved for development, let qualifying-certificate developers dispose of units over 4 years (up from 2), and raised the Additional CPF Housing Grant cap from S$30,000 to S$40,000 with the income ceiling from S$4,000 to S$5,000.
Budget statement delivered in Parliament on 22 Jan 2009. Rebates are for calendar year 2009 (no single effective date). The AHG details and effective date (6 Feb 2009) came in a separate HDB release, listed as its own event.