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 window
Comparison anchored to effective date: 20 February 2010. Before: 24 August 2009 to 19 February 2010. After: 20 February 2010 to 18 August 2010. The same 180 days on each side; the anchor day counts as after.
Before · 24 Aug 2009 to 19 Feb 2010
10 land-sales awards
- 30 land-sales steps in all
- 1 other archive event
- Singapore private residential transactions, all types of sale: 6,632 (Q4 2009)
The event
Announced 19 Feb 2010
Effective 20 Feb 2010
The effective date is the anchor.
After · 20 Feb 2010 to 18 Aug 2010
22 land-sales awards
- 72 land-sales steps in all
- All 180 days observable
- Singapore private residential transactions, all types of sale: 10,168 (Q2 2010)
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.
- 10 land-sales awards in the 180 days before the effective date, and 22 in the 180 observable days after.
- 3 of 4 tracked series have a whole period on both sides, so a before and after figure is stated for them.
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
- Singapore private residential transactions, all types of sale totalled 6,632 in the whole periods inside the 180 days before the effective date (Q4 2009) and 10,168 in those inside the 180 days after (Q2 2010).
- Private Residential Property Price Index, All Residential was 118.4 in Q4 2009, the latest whole period before the effective date, and 131.7 in Q2 2010, the latest whole period in the 180 days after.
- 10 GLS site awards were recorded in the before window and 22 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 claim | Before | After | Change | Source |
|---|---|---|---|---|
| Maximum FI housing-loan LTV, reduced from 90% | 90% | 80% | −10 pts | Claim 2 |
Observed around this event
View linked outcomesThe same statistic over the 180 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 180-day window
Before
6,632
Q4 2009
Coverage 92/180 days
After
10,168
Q2 2010
Coverage 91/180 days
Difference
+3,536
+53.3%
Qualified: whole periods cover 92/180 days before and 91/180 days after. Days outside a whole period are not counted and are not treated as zero. The two totals span different numbers of days.
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 180-day window
Before
118.4
Q4 2009
Coverage 92/180 days
After
131.7
Q2 2010
Coverage 91/180 days
Difference
+13.3
+11.2%
Qualified: whole periods cover 92/180 days before and 91/180 days after. Days outside a whole period are not counted and are not treated as zero.
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 180-day window
Before
109
Q4 2009
Coverage 92/180 days
After
116.6
Q2 2010
Coverage 91/180 days
Difference
+7.6
+7%
Qualified: whole periods cover 92/180 days before and 91/180 days after. Days outside a whole period are not counted and are not treated as zero.
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
31 lines
30 land-sales steps (10 awards) · 1 archive event
From the effective date
72 lines
72 land-sales steps (22 awards) · 0 archive events
Explore concurrent eventsHide concurrent events
Before (31)
25 August 2009 · Land sales
Chestnut Avenue: AwardedCondominium or Flats · status on 25 August 2009: Awarded · awarded to Sunny Vista Developments Pte. Ltd. And Hong Realty (Private) Limited at S$143,680,000
3 September 2009 · Land sales
New Bridge Road: Tender closedHotel · status on 3 September 2009: Tender closed, award pending
7 September 2009 · Land sales
New Bridge Road: AwardedHotel · status on 7 September 2009: Awarded · awarded to Leedon Investments Pte Ltd at S$67,699,800
8 September 2009 · Land sales
Dakota Crescent: Tender closedResidential · status on 8 September 2009: Tender closed, award pending
9 September 2009 · Land sales
Serangoon Avenue 3: Launched for tenderResidential · status on 9 September 2009: Tender open
9 September 2009 · Land sales
Dakota Crescent: AwardedResidential · status on 9 September 2009: Awarded · awarded to UOL Development (Novena) Pte. Ltd. at S$329,000,800
14 September 2009 · Archive event
Singapore disallows the Interest Absorption Scheme and interest-only housing loans and reinstates the GLS Confirmed ListAnnounced 14 September 2009
17 September 2009 · Land sales
Commonwealth Avenue West / Clementi Avenue 3: Launched for tenderCommercial · status on 17 September 2009: Tender open
17 September 2009 · Land sales
Yio Chu Kang Road / Seletar Road: Tender closedCommercial and Residential · status on 17 September 2009: Tender closed, award pending
22 September 2009 · Land sales
Yio Chu Kang Road / Seletar Road: AwardedCommercial and Residential · status on 22 September 2009: Awarded · awarded to Far East Square Pte. Ltd. at S$119,080,000
7 October 2009 · Land sales
Serangoon Avenue 3: Tender closedResidential · status on 7 October 2009: Tender closed, award pending
8 October 2009 · Land sales
Upper Thomson Road: Launched for tenderResidential · status on 8 October 2009: Tender open
9 October 2009 · Land sales
Serangoon Avenue 3: AwardedResidential · status on 9 October 2009: Awarded · awarded to Intrepid Investments Pte. Ltd. at S$221,207,207
5 November 2009 · Land sales
Upper Thomson Road: Tender closedResidential · status on 5 November 2009: Tender closed, award pending
9 November 2009 · Land sales
Westwood Avenue: Launched for tenderLanded · status on 9 November 2009: Tender open
9 November 2009 · Land sales
Upper Thomson Road: AwardedResidential · status on 9 November 2009: Awarded · awarded to Treasure Well Investments Limited at S$251,338,668
10 November 2009 · Land sales
Commonwealth Avenue West / Clementi Avenue 3: Tender closedCommercial · status on 10 November 2009: Tender closed, award pending
11 November 2009 · Land sales
Pioneer Road North / Soon Lee Drive: Launched for tenderBusiness 2 · status on 11 November 2009: Tender open
17 November 2009 · Land sales
Commonwealth Avenue West / Clementi Avenue 3: AwardedCommercial · status on 17 November 2009: Awarded · awarded to CM Domain Pte. Ltd. at S$541,898,000
8 December 2009 · Land sales
Westwood Avenue: Tender closedLanded · status on 8 December 2009: Tender closed, award pending
9 December 2009 · Land sales
Pioneer Road North / Soon Lee Drive: Tender closedBusiness 2 · status on 9 December 2009: Tender closed, award pending
10 December 2009 · Land sales
Westwood Avenue: AwardedLanded · status on 10 December 2009: Awarded · awarded to Chappelis Pte Ltd at S$38,500,000
11 December 2009 · Land sales
Pioneer Road North / Soon Lee Drive: AwardedBusiness 2 · status on 11 December 2009: Awarded · awarded to KNG Realty Pte. Ltd. at S$19,411,112
5 January 2010 · Land sales
Choa Chu Kang Road / Woodlands Road: Launched for tenderFlats or serviced apartments with existing commercial development · status on 5 January 2010: Tender open
8 January 2010 · Land sales
Sengkang West Avenue / Fernvale Link: Launched for tenderCondominium or Flats · status on 8 January 2010: Tender open
15 January 2010 · Land sales
Yishun Avenue 11: Launched for tenderExecutive Condominium housing · status on 15 January 2010: Tender open
15 January 2010 · Land sales
Compassvale Bow: Launched for tenderExecutive Condominium housing · status on 15 January 2010: Tender open
2 February 2010 · Land sales
Tampines Avenue 1 / Avenue 10: Launched for tenderResidential · status on 2 February 2010: Tender open
4 February 2010 · Land sales
Sengkang West Avenue / Fernvale Link: Tender closedCondominium or Flats · status on 4 February 2010: Tender closed, award pending
8 February 2010 · Land sales
Sengkang West Avenue / Fernvale Link: AwardedCondominium or Flats · status on 8 February 2010: Awarded · awarded to Sunmaster Holdings Pte. Ltd. at S$200,500,000
9 February 2010 · Land sales
Mohamed Sultan Road: Launched for tenderTransitional Office · status on 9 February 2010: Tender open
After (72)
23 February 2010 · Land sales
Choa Chu Kang Road / Woodlands Road: Tender closedFlats or serviced apartments with existing commercial development · status on 23 February 2010: Tender closed, award pending
24 February 2010 · Land sales
Choa Chu Kang Road / Woodlands Road: AwardedFlats 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
4 March 2010 · Land sales
Compassvale Bow: Tender closedExecutive Condominium housing · status on 4 March 2010: Tender closed, award pending
5 March 2010 · Land sales
Compassvale Bow: AwardedExecutive 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
8 March 2010 · Land sales
Yishun Avenue 6 / Yishun Industrial Street 1: Launched for tenderBusiness 1 · status on 8 March 2010: Tender open
11 March 2010 · Land sales
Yishun Avenue 11: Tender closedExecutive Condominium housing · status on 11 March 2010: Tender closed, award pending
15 March 2010 · Land sales
Yishun Avenue 11: AwardedExecutive Condominium housing · status on 15 March 2010: Awarded · awarded to MCC Land (Singapore) Pte. Ltd. at S$127,800,000
15 March 2010 · Land sales
Yishun Avenue 6 / Yishun Avenue 9: Launched for tenderBusiness 1 · status on 15 March 2010: Tender open
16 March 2010 · Land sales
Tampines Avenue 1 / Avenue 10: Tender closedResidential · status on 16 March 2010: Tender closed, award pending
18 March 2010 · Land sales
Mohamed Sultan Road: Tender closedTransitional Office · status on 18 March 2010: Tender closed, award pending
19 March 2010 · Land sales
Mohamed Sultan Road: AwardedTransitional Office · status on 19 March 2010: Awarded · awarded to Link (THM) Holdings Pte Ltd at S$17,190,000
19 March 2010 · Land sales
Tampines Avenue 1 / Avenue 10: AwardedResidential · status on 19 March 2010: Awarded · awarded to Sim Lian Land Pte Ltd at S$302,000,000
23 March 2010 · Land sales
Simei Street 3: Launched for tenderResidential · status on 23 March 2010: Tender open
23 March 2010 · Land sales
Boon Lay Way / Lakeside Drive: Launched for tenderResidential · status on 23 March 2010: Tender open
25 March 2010 · Land sales
Woodlands Avenue 12: Launched for tenderBusiness 1 · status on 25 March 2010: Tender open
29 March 2010 · Land sales
Upper Changi Road North / Flora Drive: Launched for tenderResidential · status on 29 March 2010: Tender open
31 March 2010 · Land sales
Yishun Avenue 11 / Yishun Central: Launched for tenderDesign, Build and Sell Scheme public housing · status on 31 March 2010: Tender open
6 April 2010 · Land sales
Yishun Avenue 6 / Yishun Industrial Street 1: Tender closedBusiness 1 · status on 6 April 2010: Tender closed, award pending
7 April 2010 · Land sales
Tampines Road: Launched for tenderLanded · status on 7 April 2010: Tender open
9 April 2010 · Land sales
Yishun Avenue 6 / Yishun Industrial Street 1: AwardedBusiness 1 · status on 9 April 2010: Awarded · awarded to OKH Management Pte Ltd at S$27,200,000
13 April 2010 · Land sales
Yishun Avenue 6 / Yishun Avenue 9: Tender closedBusiness 1 · status on 13 April 2010: Tender closed, award pending
14 April 2010 · Land sales
Sengkang East Ave / Buangkok Drive: Launched for tenderExecutive Condominium housing · status on 14 April 2010: Tender open
14 April 2010 · Land sales
Sembawang Road / Canberra Drive: Launched for tenderStrata Landed or Condominium / Flats · status on 14 April 2010: Tender open
16 April 2010 · Land sales
Yishun Avenue 6 / Yishun Avenue 9: AwardedBusiness 1 · status on 16 April 2010: Awarded · awarded to Soilbuild Group Holdings Ltd at S$29,290,000
20 April 2010 · Land sales
Upper Serangoon Road / Pheng Geck Avenue: Launched for tenderResidential · status on 20 April 2010: Tender open
20 April 2010 · Land sales
Hougang Avenue 2: Launched for tenderResidential · status on 20 April 2010: Tender open
21 April 2010 · Land sales
Stamford Road / North Bridge Road: Launched for tenderCommercial · status on 21 April 2010: Tender open
21 April 2010 · Land sales
Woodlands Avenue 12: Tender closedBusiness 1 · status on 21 April 2010: Tender closed, award pending
26 April 2010 · Land sales
Jurong Gateway Road: Launched for tenderWhite (Commercial / Hotel / Residential) · status on 26 April 2010: Tender open
27 April 2010 · Land sales
Upper Changi Road North / Flora Drive: Tender closedResidential · status on 27 April 2010: Tender closed, award pending
27 April 2010 · Land sales
Woodlands Avenue 12: AwardedBusiness 1 · status on 27 April 2010: Awarded · awarded to Boon Keng Development Pte Ltd at S$65,180,000
30 April 2010 · Land sales
Upper Changi Road North / Flora Drive: AwardedResidential · status on 30 April 2010: Awarded · awarded to Tripartite Developers Pte Ltd at S$148,300,000
4 May 2010 · Land sales
Boon Lay Way / Lakeside Drive: Tender closedResidential · status on 4 May 2010: Tender closed, award pending
5 May 2010 · Land sales
Punggol Field / Punggol Road: Launched for tenderExecutive Condominium housing · status on 5 May 2010: Tender open
5 May 2010 · Land sales
Yishun Ave 2 / Ave 7 / Canberra Drive: Launched for tenderCondominium or Flats · status on 5 May 2010: Tender open
6 May 2010 · Land sales
Tampines Road: Tender closedLanded · status on 6 May 2010: Tender closed, award pending
6 May 2010 · Land sales
Boon Lay Way / Lakeside Drive: AwardedResidential · status on 6 May 2010: Awarded · awarded to Keppel Land (Mayfair) Pte Ltd at S$302,980,000
10 May 2010 · Land sales
Tampines Road: AwardedLanded · status on 10 May 2010: Awarded · awarded to Fragrance Properties Pte Ltd at S$16,250,000
11 May 2010 · Land sales
Simei Street 3: Tender closedResidential · status on 11 May 2010: Tender closed, award pending
14 May 2010 · Land sales
Simei Street 3: AwardedResidential · status on 14 May 2010: Awarded · awarded to CEL Development Pte Ltd at S$152,688,000
18 May 2010 · Land sales
Yishun Avenue 11 / Yishun Central: Tender closedDesign, Build and Sell Scheme public housing · status on 18 May 2010: Tender closed, award pending
20 May 2010 · Land sales
Hougang Avenue 2: Tender closedResidential · status on 20 May 2010: Tender closed, award pending
24 May 2010 · Land sales
Yishun Avenue 11 / Yishun Central: AwardedDesign, Build and Sell Scheme public housing · status on 24 May 2010: Awarded · awarded to Guthrie (DBP) Pte Ltd And SK Land Pte Ltd at S$148,888,888
25 May 2010 · Land sales
Sengkang East Ave / Buangkok Drive: Tender closedExecutive Condominium housing · status on 25 May 2010: Tender closed, award pending
25 May 2010 · Land sales
Hougang Avenue 2: AwardedResidential · status on 25 May 2010: Awarded · awarded to MCL Land (Serangoon) Pte Ltd at S$207,500,000
27 May 2010 · Land sales
Sengkang East Ave / Buangkok Drive: AwardedExecutive Condominium housing · status on 27 May 2010: Awarded · awarded to Maxdin Pte Ltd & Lee Carriers Pte Ltd at S$176,000,000
2 June 2010 · Land sales
Upper Serangoon Road / Pheng Geck Avenue: Tender closedResidential · status on 2 June 2010: Tender closed, award pending
8 June 2010 · Land sales
Sembawang Road / Canberra Drive: Tender closedStrata Landed or Condominium / Flats · status on 8 June 2010: Tender closed, award pending
11 June 2010 · Land sales
Sembawang Road / Canberra Drive: AwardedStrata Landed or Condominium / Flats · status on 11 June 2010: Awarded · awarded to MCC Land (Singapore) Pte Ltd at S$131,700,000
15 June 2010 · Land sales
Punggol Field / Punggol Road: Tender closedExecutive Condominium housing · status on 15 June 2010: Tender closed, award pending
15 June 2010 · Land sales
Ubi Road 1: Launched for tenderBusiness 1 · status on 15 June 2010: Tender open
15 June 2010 · Land sales
Upper Serangoon Road / Pheng Geck Avenue: AwardedResidential · status on 15 June 2010: Awarded · awarded to Qingdao Construction (Singapore) Pte Ltd at S$113,737,000
17 June 2010 · Land sales
Punggol Field / Punggol Road: AwardedExecutive Condominium housing · status on 17 June 2010: Awarded · awarded to ChoiceHomes Investments Pte Ltd / CEL Development Pte Ltd at S$223,740,000
18 June 2010 · Land sales
Yishun Ave 2 / Ave 7 / Canberra Drive: Tender closedCondominium or Flats · status on 18 June 2010: Tender closed, award pending
23 June 2010 · Land sales
Tampines Avenue 5 / Tampines Central 8: Launched for tenderDesign, Build and Sell Scheme public housing · status on 23 June 2010: Tender open
23 June 2010 · Land sales
Yishun Ave 2 / Ave 7 / Canberra Drive: AwardedCondominium or Flats · status on 23 June 2010: Awarded · awarded to Nam Hee Contractor Pte Ltd. and FCL Topaz Pte. Ltd. at S$229,400,000
24 June 2010 · Land sales
Jurong Gateway Road: Tender closedWhite (Commercial / Hotel / Residential) · status on 24 June 2010: Tender closed, award pending
28 June 2010 · Land sales
Clemenceau Avenue / Havelock Road: Launched for tenderHotel · status on 28 June 2010: Tender open
28 June 2010 · Land sales
Jurong Gateway Road: AwardedWhite (Commercial / Hotel / Residential) · status on 28 June 2010: Awarded · awarded to Lend Lease Retail Investments 3 Pte. Ltd. and Lend Lease Commercial Investments Pte. Ltd. at S$748,888,000
2 July 2010 · Land sales
Miltonia Close: Launched for tenderStrata Landed or Condominium / Flats · status on 2 July 2010: Tender open
2 July 2010 · Land sales
New Upper Changi Road / Bedok North Drive: Launched for tenderMixed commercial and residential · status on 2 July 2010: Tender open
19 July 2010 · Land sales
Kaki Bukit Avenue 4: Launched for tenderBusiness 2 · status on 19 July 2010: Tender open
20 July 2010 · Land sales
Jalan Eunos: Launched for tenderResidential · status on 20 July 2010: Tender open
30 July 2010 · Land sales
Peck Seah Street / Choon Guan Street: Launched for tenderWhite (Commercial / Hotel / Residential) · status on 30 July 2010: Tender open
3 August 2010 · Land sales
Tampines Avenue 5 / Tampines Central 8: Tender closedDesign, Build and Sell Scheme public housing · status on 3 August 2010: Tender closed, award pending
5 August 2010 · Land sales
Punggol Drive / Punggol East: Launched for tenderExecutive Condominium housing · status on 5 August 2010: Tender open
5 August 2010 · Land sales
Pasir Ris Drive 3 / Pasir Ris Drive 4: Launched for tenderCondominium or Flats · status on 5 August 2010: Tender open
5 August 2010 · Land sales
Hougang Avenue 7: Launched for tenderCondominium or Flats · status on 5 August 2010: Tender open
6 August 2010 · Land sales
Tampines Avenue 5 / Tampines Central 8: AwardedDesign, Build and Sell Scheme public housing · status on 6 August 2010: Awarded · awarded to Sim Lian Land Pte Ltd at S$178,128,000
11 August 2010 · Land sales
Ubi Road 1: Tender closedBusiness 1 · status on 11 August 2010: Tender closed, award pending
17 August 2010 · Land sales
Ubi Road 1: AwardedBusiness 1 · status on 17 August 2010: Awarded · awarded to Oxley Rising Pte Ltd at S$158,100,000
18 August 2010 · Land sales
Stamford Road / North Bridge Road: Tender closedCommercial · status on 18 August 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
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
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
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.