Singapore
property cooling measures from 2009
14 September 2009
§
Interest absorption scheme
(IAS)removed
§
Government Land Sale programme
reinstated
19 February 2010
§
Max load-to-value (LTV) limit ↓from
90% to 80%
§
Seller’s stamp duty (SSD) levied on
sale of private residential property within 1 year of purchase
30 August 2010
§
SSD holding period increased to 3
years with rates charged on a sliding scale of 3%, 2% & 1%
§
For buyers with o/s HL, min cash
down-payment increased from 5% to 10% of valuation limit & LTV↓ from 80% to
70%
§
Min. occupation period of
non-subsidized HDB flats ↑from 3 to 5 years (resale & subletting
restriction)
14 January 2011
§
SSD holding period ↑ to 4 years &
rates chargeable changed to 16% , 12%, 8% & 4%
§
LTV 60% for 2nd HL
§
LTV 50% for companies
8 December 2011
Additional Buyer’s Stamp Duty (ABSD)
+ 10% for foreigners
+ 3% for PR’s’2nd property
+ 3% for Singaporean’s 3rd
property above existing duty:
1% on the 1st $180k
2% on the next $180k
3% on the remainder
6 October 2012
§
Max tenure 35 years for purchase.
§
LTV ↓ if > 30 years or the sum of
tenure & age > 65years. i.e. LTV 60% if no HL, 40% with ≥ 1 HL
§
Refinancing tenure 35 years less no
of years since 1st HL disbursed
§
LTV for companies ↓ from 50% to 40%
12 January 2013
§
ABSD:
PR’s 1st property (5%) & Singaporean‘s
2nd property (7%). PR’s 2nd property & Singaporean’s
3rd property at 10%. Foreigners & company 15%.
§
LTV:
2nd HL at 50% (30% if tenure > 30 years
or loan past age 65). 3rd HL at 40% (20% tenure > 30years or loan
past age 65). For cooperates, LTV ↓ from 40% to 20%.
Min Cash Down Payment: Applying for 1st
HL : NO change, i.e 5% and 10% if tenure >30 years or loan extends past age
65. 2nd & subsequent HL at 25% (↑ from 10%)
§
Mortgage
Service Ratio for HDB loan for purchase & refinancing: 30%
of borrower’s gross monthly income.
§
PR
HDB flat restriction: Sell flat within 6 months of private
property purchase (BUC – 6 months from TOP/SCS) & cannot sublet whole flat
§
Others: Executive Condo construction
& sale restrictions & Seller’s stamp duty on industrial properties
29 June 2013
§
All borrowers to be mortgagers and
no
guarantors
§
Total Debt Servicing Ratio (TDSR) capped
at 60% for property loans for Singapore & overseas, for residential /
non-residential properties, to individuals or entitles set up solely to purchase
property
§
For joint borrowings, the income-weighted
average age of borrowers to be used
28 August 2013
§
Bank’s max HDB tenure reduced from 35
to 30 years
§
Bank’s HDB LTV reduced from 80% to
60% if > 25 to 30 years or loan past age 65