Policy before and after · Macroprudential

Singapore introduces Seller's Stamp Duty and reduces the housing-loan LTV limit

Announced 19 February 2010 · Effective 20 February 2010

Read the full event recordCompare with another policyCreate research brief

Comparison anchored to effective date: 20 February 2010. Before: 22 November 2009 to 19 February 2010. After: 20 February 2010 to 20 May 2010. The same 90 days on each side; the anchor day counts as after.

Before · 22 Nov 2009 to 19 Feb 2010

3 land-sales awards

  • 12 land-sales steps in all
  • 0 other archive events

The event

Announced 19 Feb 2010

Effective 20 Feb 2010

The effective date is the anchor.

After · 20 Feb 2010 to 20 May 2010

12 land-sales awards

  • 42 land-sales steps in all
  • All 90 days observable

What this comparison can and cannot show

Generated from this window's records

Recorded

  • 1 verified claim on this event records a before and an after value.
  • 3 land-sales awards in the 90 days before the effective date, and 12 in the 90 observable days after.
  • None of the 4 tracked series has a whole period on both sides of a 90-day window, so no market figure is compared.

Cannot be concluded

  • That this event moved any figure on this page. The comparison is by date; nothing here is attributed to the event.
  • A reading of the concurrent land sales and events as responses to this one. They are listed by date alone.
About this eventIssuing authority, category, affected market, primary source, summary
Announced
19 February 2010
Effective
20 February 2010
Issuing authority
Monetary Authority of Singapore, Ministry of National Development, Ministry of Finance
Category
Macroprudential
Affected market
Private residential property and residential land, and housing loans granted by MAS-regulated financial institutions for private residential property, executive condominiums, HUDC flats, HDB flats and DBSS flats. HDB concessionary loans were not affected.
Primary source
Measures To Ensure A Stable And Sustainable Property Market. Joint press release, Ministry of National Development, Ministry of Finance and Monetary Authority of Singapore, 19 February 2010, with footnotes 2, 5 and 6.

On 19 February 2010 Singapore introduced Seller's Stamp Duty on residential property and residential land acquired on or after 20 February 2010 and disposed of within one year, charged on the prevailing ad valorem conveyance scale of 1% on the first S$180,000, 2% on the next S$180,000 and 3% on the remainder. The maximum loan-to-value for housing loans from MAS-regulated financial institutions was reduced from 90% to 80%.

In brief

In brief

  • 3 GLS site awards were recorded in the before window and 12 in the after window.

What changed

No policy matrix is recorded for this event. These are its verified claims that store a before and an after value.

As recorded in the claimBeforeAfterChangeSource
Maximum FI housing-loan LTV, reduced from 90%90%80%−10 ptsClaim 2

Observed around this event

View linked outcomes

The same statistic over the 90 days before and after the anchor. Figures describe what was recorded in each window; they do not attribute a change to this event.

Singapore private residential transactions, all types of sale

units · Total over whole quarterly periods inside each 90-day window

Before

None

Coverage 0/90 days

After

None

Coverage 0/90 days

Difference

Not stated

No whole quarterly period of this series falls inside either window, so no comparison is stated. A longer window may contain one.

Provenance
Source
Urban Redevelopment Authority
Series kind
FLOW
Basis
Observation periods wholly inside each window, values as originally recorded.
Origin
Calculated (sum of published period values)
Shown because
Mapped to this kind of event

Private Residential Property Price Index, All Residential

index (2009Q1=100) · Value in the latest whole quarterly period inside each 90-day window

Before

None

Coverage 0/90 days

After

None

Coverage 0/90 days

Difference

Not stated

No whole quarterly period of this series falls inside either window, so no comparison is stated. A longer window may contain one.

Provenance
Source
Urban Redevelopment Authority
Series kind
INDEX
Basis
Observation periods wholly inside each window, values as originally recorded.
Origin
Source fact (latest whole period)
Shown because
Mapped to this kind of event

HDB Resale Price Index

index (2009Q1=100) · Value in the latest whole quarterly period inside each 90-day window

Before

None

Coverage 0/90 days

After

None

Coverage 0/90 days

Difference

Not stated

No whole quarterly period of this series falls inside either window, so no comparison is stated. A longer window may contain one.

Provenance
Source
Housing & Development Board
Series kind
INDEX
Basis
Observation periods wholly inside each window, values as originally recorded.
Origin
Source fact (latest whole period)
Shown because
Mapped to this kind of event

URA Private Residential Property Price Index, all residential properties, level (1Q2009 = 100)

index

Comparison unavailable: series aggregation type is unresolved.

Provenance
Source
Urban Redevelopment Authority
Series kind
Unresolved (not recorded)
Basis
Observation periods wholly inside each window, values as originally recorded.
Origin
Unresolved
Shown because
Cited by this event's own outcomes

Concurrent planning and land activity

Land sales and other archive events dated inside the windows, listed by date only. Each land-sales line shows the site as the record stood on that day.

Before the effective date

12 lines

12 land-sales steps (3 awards) · 0 archive events

From the effective date

42 lines

42 land-sales steps (12 awards) · 0 archive events

Explore concurrent events

Before (12)

  1. 8 December 2009 · Land sales

    Westwood Avenue: Tender closed

    Landed · status on 8 December 2009: Tender closed, award pending

  2. 9 December 2009 · Land sales

    Pioneer Road North / Soon Lee Drive: Tender closed

    Business 2 · status on 9 December 2009: Tender closed, award pending

  3. 10 December 2009 · Land sales

    Westwood Avenue: Awarded

    Landed · status on 10 December 2009: Awarded · awarded to Chappelis Pte Ltd at S$38,500,000

  4. 11 December 2009 · Land sales

    Pioneer Road North / Soon Lee Drive: Awarded

    Business 2 · status on 11 December 2009: Awarded · awarded to KNG Realty Pte. Ltd. at S$19,411,112

  5. 5 January 2010 · Land sales

    Choa Chu Kang Road / Woodlands Road: Launched for tender

    Flats or serviced apartments with existing commercial development · status on 5 January 2010: Tender open

  6. 8 January 2010 · Land sales

    Sengkang West Avenue / Fernvale Link: Launched for tender

    Condominium or Flats · status on 8 January 2010: Tender open

  7. 15 January 2010 · Land sales

    Yishun Avenue 11: Launched for tender

    Executive Condominium housing · status on 15 January 2010: Tender open

  8. 15 January 2010 · Land sales

    Compassvale Bow: Launched for tender

    Executive Condominium housing · status on 15 January 2010: Tender open

  9. 2 February 2010 · Land sales

    Tampines Avenue 1 / Avenue 10: Launched for tender

    Residential · status on 2 February 2010: Tender open

  10. 4 February 2010 · Land sales

    Sengkang West Avenue / Fernvale Link: Tender closed

    Condominium or Flats · status on 4 February 2010: Tender closed, award pending

  11. 8 February 2010 · Land sales

    Sengkang West Avenue / Fernvale Link: Awarded

    Condominium or Flats · status on 8 February 2010: Awarded · awarded to Sunmaster Holdings Pte. Ltd. at S$200,500,000

  12. 9 February 2010 · Land sales

    Mohamed Sultan Road: Launched for tender

    Transitional Office · status on 9 February 2010: Tender open

After (42)

  1. 23 February 2010 · Land sales

    Choa Chu Kang Road / Woodlands Road: Tender closed

    Flats or serviced apartments with existing commercial development · status on 23 February 2010: Tender closed, award pending

  2. 24 February 2010 · Land sales

    Choa Chu Kang Road / Woodlands Road: Awarded

    Flats or serviced apartments with existing commercial development · status on 24 February 2010: Awarded · awarded to Dollar Land Singapore Private Limited at S$164,000,000

  3. 4 March 2010 · Land sales

    Compassvale Bow: Tender closed

    Executive Condominium housing · status on 4 March 2010: Tender closed, award pending

  4. 5 March 2010 · Land sales

    Compassvale Bow: Awarded

    Executive Condominium housing · status on 5 March 2010: Awarded · awarded to Opal Star Pte Ltd & Lum Chang Building Contractors Pte Ltd at S$193,280,000

  5. 8 March 2010 · Land sales

    Yishun Avenue 6 / Yishun Industrial Street 1: Launched for tender

    Business 1 · status on 8 March 2010: Tender open

  6. 11 March 2010 · Land sales

    Yishun Avenue 11: Tender closed

    Executive Condominium housing · status on 11 March 2010: Tender closed, award pending

  7. 15 March 2010 · Land sales

    Yishun Avenue 11: Awarded

    Executive Condominium housing · status on 15 March 2010: Awarded · awarded to MCC Land (Singapore) Pte. Ltd. at S$127,800,000

  8. 15 March 2010 · Land sales

    Yishun Avenue 6 / Yishun Avenue 9: Launched for tender

    Business 1 · status on 15 March 2010: Tender open

  9. 16 March 2010 · Land sales

    Tampines Avenue 1 / Avenue 10: Tender closed

    Residential · status on 16 March 2010: Tender closed, award pending

  10. 18 March 2010 · Land sales

    Mohamed Sultan Road: Tender closed

    Transitional Office · status on 18 March 2010: Tender closed, award pending

  11. 19 March 2010 · Land sales

    Mohamed Sultan Road: Awarded

    Transitional Office · status on 19 March 2010: Awarded · awarded to Link (THM) Holdings Pte Ltd at S$17,190,000

  12. 19 March 2010 · Land sales

    Tampines Avenue 1 / Avenue 10: Awarded

    Residential · status on 19 March 2010: Awarded · awarded to Sim Lian Land Pte Ltd at S$302,000,000

  13. 23 March 2010 · Land sales

    Simei Street 3: Launched for tender

    Residential · status on 23 March 2010: Tender open

  14. 23 March 2010 · Land sales

    Boon Lay Way / Lakeside Drive: Launched for tender

    Residential · status on 23 March 2010: Tender open

  15. 25 March 2010 · Land sales

    Woodlands Avenue 12: Launched for tender

    Business 1 · status on 25 March 2010: Tender open

  16. 29 March 2010 · Land sales

    Upper Changi Road North / Flora Drive: Launched for tender

    Residential · status on 29 March 2010: Tender open

  17. 31 March 2010 · Land sales

    Yishun Avenue 11 / Yishun Central: Launched for tender

    Design, Build and Sell Scheme public housing · status on 31 March 2010: Tender open

  18. 6 April 2010 · Land sales

    Yishun Avenue 6 / Yishun Industrial Street 1: Tender closed

    Business 1 · status on 6 April 2010: Tender closed, award pending

  19. 7 April 2010 · Land sales

    Tampines Road: Launched for tender

    Landed · status on 7 April 2010: Tender open

  20. 9 April 2010 · Land sales

    Yishun Avenue 6 / Yishun Industrial Street 1: Awarded

    Business 1 · status on 9 April 2010: Awarded · awarded to OKH Management Pte Ltd at S$27,200,000

  21. 13 April 2010 · Land sales

    Yishun Avenue 6 / Yishun Avenue 9: Tender closed

    Business 1 · status on 13 April 2010: Tender closed, award pending

  22. 14 April 2010 · Land sales

    Sengkang East Ave / Buangkok Drive: Launched for tender

    Executive Condominium housing · status on 14 April 2010: Tender open

  23. 14 April 2010 · Land sales

    Sembawang Road / Canberra Drive: Launched for tender

    Strata Landed or Condominium / Flats · status on 14 April 2010: Tender open

  24. 16 April 2010 · Land sales

    Yishun Avenue 6 / Yishun Avenue 9: Awarded

    Business 1 · status on 16 April 2010: Awarded · awarded to Soilbuild Group Holdings Ltd at S$29,290,000

  25. 20 April 2010 · Land sales

    Upper Serangoon Road / Pheng Geck Avenue: Launched for tender

    Residential · status on 20 April 2010: Tender open

  26. 20 April 2010 · Land sales

    Hougang Avenue 2: Launched for tender

    Residential · status on 20 April 2010: Tender open

  27. 21 April 2010 · Land sales

    Stamford Road / North Bridge Road: Launched for tender

    Commercial · status on 21 April 2010: Tender open

  28. 21 April 2010 · Land sales

    Woodlands Avenue 12: Tender closed

    Business 1 · status on 21 April 2010: Tender closed, award pending

  29. 26 April 2010 · Land sales

    Jurong Gateway Road: Launched for tender

    White (Commercial / Hotel / Residential) · status on 26 April 2010: Tender open

  30. 27 April 2010 · Land sales

    Upper Changi Road North / Flora Drive: Tender closed

    Residential · status on 27 April 2010: Tender closed, award pending

  31. 27 April 2010 · Land sales

    Woodlands Avenue 12: Awarded

    Business 1 · status on 27 April 2010: Awarded · awarded to Boon Keng Development Pte Ltd at S$65,180,000

  32. 30 April 2010 · Land sales

    Upper Changi Road North / Flora Drive: Awarded

    Residential · status on 30 April 2010: Awarded · awarded to Tripartite Developers Pte Ltd at S$148,300,000

  33. 4 May 2010 · Land sales

    Boon Lay Way / Lakeside Drive: Tender closed

    Residential · status on 4 May 2010: Tender closed, award pending

  34. 5 May 2010 · Land sales

    Punggol Field / Punggol Road: Launched for tender

    Executive Condominium housing · status on 5 May 2010: Tender open

  35. 5 May 2010 · Land sales

    Yishun Ave 2 / Ave 7 / Canberra Drive: Launched for tender

    Condominium or Flats · status on 5 May 2010: Tender open

  36. 6 May 2010 · Land sales

    Tampines Road: Tender closed

    Landed · status on 6 May 2010: Tender closed, award pending

  37. 6 May 2010 · Land sales

    Boon Lay Way / Lakeside Drive: Awarded

    Residential · status on 6 May 2010: Awarded · awarded to Keppel Land (Mayfair) Pte Ltd at S$302,980,000

  38. 10 May 2010 · Land sales

    Tampines Road: Awarded

    Landed · status on 10 May 2010: Awarded · awarded to Fragrance Properties Pte Ltd at S$16,250,000

  39. 11 May 2010 · Land sales

    Simei Street 3: Tender closed

    Residential · status on 11 May 2010: Tender closed, award pending

  40. 14 May 2010 · Land sales

    Simei Street 3: Awarded

    Residential · status on 14 May 2010: Awarded · awarded to CEL Development Pte Ltd at S$152,688,000

  41. 18 May 2010 · Land sales

    Yishun Avenue 11 / Yishun Central: Tender closed

    Design, Build and Sell Scheme public housing · status on 18 May 2010: Tender closed, award pending

  42. 20 May 2010 · Land sales

    Hougang Avenue 2: Tender closed

    Residential · status on 20 May 2010: Tender closed, award pending

Methodology5 rules
  • Comparison anchored to effective date: 20 February 2010. The anchor is the effective date where one is recorded, otherwise the announcement date.
  • The windows are the same number of days on each side of the anchor, and the anchor day belongs to the after window.
  • A series counts toward a window only for observation periods wholly inside it, with values as originally recorded, not as later revised.
  • Where no whole period falls inside a window, no value and no difference is stated; a day no whole period covers is missing, never zero.
  • Concurrent land sales and archive events are listed by date alone. Nothing on this page is attributed to the event.

Sources

The event's sources (3)

Primary sources3
  • Measures To Ensure A Stable And Sustainable Property Market. Joint press release, Ministry of National Development, Ministry of Finance and Monetary Authority of Singapore, 19 February 2010, with footnotes 2, 5 and 6.

    Ministry of National Development · Primary source · Published 19 February 2010

    Open original source

  • HDB Resale Price Index, quarterly official dataset, 1990-Q1 to 2026-Q2. Retrieved 14 August 2026 via the data.gov.sg datastore API. Final index values, not flash estimates.

    Housing & Development Board · Primary source · Published 14 August 2026

    Open original source

  • URA Private Residential Property Price Index By Type Of Property, quarterly, base 1Q2009 = 100. SingStat TableBuilder table M212261, Residential Properties series, 206 quarters 1975-Q1 to 2026-Q2. Retrieved 14 August 2026 via the open TableBuilder API.

    Urban Redevelopment Authority · Primary source · Published 14 August 2026

    Open original source

Event checked against its primary sources on 14 August 2026. Each claim keeps its own verification status.

Observed series come from the published statistics named on each card. Land-sales lines link to the site record and its releases.