Singapore Property Measures – 20 February 2010
These measures are the 2nd set of property cooling measures since market heated up in 2009.
1. Introducing a Seller’s Stamp Duty (SSD) on all residential properties and residential lands that are bought on or after 20 February 2010 and sold within 1 year from the date of purchase
- The SSD will be applied at the standard ad valorem stamp duty rates  for the conveyance, assignment or transfer of property: 1% for the first $180,000 of the consideration, 2% for the next $180,000, and 3% for the balance.
- The SSD will not be applicable to HDB flats as they are already subject to a minimum occupation period of at least one year.
2. Lowering the Loan-to-Value (LTV) limit to 80% for all housing loans provided by financial institutions regulated by the Monetary Authority of Singapore (MAS)
- The LTV limit will be lowered from 90% to 80% for all housing loans provided by financial institutions regulated by the MAS. The 80% LTV limit will apply to all housing loans granted by financial institutions for private residential properties, Executive Condominiums, HUDC flats and HDB flats (including those under the Design, Build and Sell Scheme, or DBSS flats)
- Loans granted by HDB for HDB flats (including DBSS flats) will still have an LTV cap of 90%.
Read more on the subsequent cooling measures announced after 20th February 2010.
Read more on the subsequent cooling measures announced before 20th February 2010.