Rules for New Housing Loans - Monetary Authority of Singapore
The core pillars of Singapore's property cooling framework remain in full force to ensure affordability for citizens: 🛑 Additional Buyer's Stamp Duty (ABSD)
Pay 0% ABSD on their first home. However, buying a second home triggers a 20% tax, and a third home triggers 30%. ⚖️ Loan-to-Value (LTV) and Debt Servicing Limits new rules for buying property in singapore
Whether you are a local buyer or a foreign investor, navigating the market requires a solid understanding of these updated frameworks. 🏗️ 1. Revamped Rules for New Private Home Launches
Subject to a prohibitive 60% ABSD on any residential property purchase, effectively limiting the market to ultra-high-net-worth buyers. Rules for New Housing Loans - Monetary Authority
If you sell a property within the first 4 years of purchase, the SSD rates have been raised by 4 percentage points across all tiers to further penalize fast flipping. 🏛️ 3. Ongoing Tax & Cooling Measures
The landscape shifted significantly following rules targeting property flipping, as well as reforms rolled out to safeguard buyers of brand-new private homes. 🏗️ 1
For HDB flats and Executive Condominiums (ECs), your property loan installment cannot exceed 30% of your gross monthly income. 🏡 4. Eligibility Restrictions by Residency