Linked outcomes

Singapore raises property-loan stress-test floors, cuts the HDB housing-loan LTV limit to 80%, and introduces a temporary 15-month HDB resale wait-out

Announced 29 September 2022 · Effective 30 September 2022 · Cooling measure

Comparison anchored to effective date: 30 September 2022.

Before and after figures are the 180-day windows of the before and after view, not each outcome record's own window. A link here is an association the archive records; it is not a finding that the event produced the outcome.

In brief

In brief

  • 12 outcome records are linked to this event: 4 with computable series, 0 citing a series whose aggregation type is unresolved, 7 observed without a series, and 1 unresolved.
  • 10 of 12 outcome records name no source, and none has a source document attached.
  • 3 further series are observed around this event through its category mapping, not through an outcome record.

Linked outcomes (12)

Directly referenced: an outcome record on this event. Listed computable first, then not computable, then observed in words, then unresolved; not ranked.

Outcome record 1

HDB resale market, first four calendar quarters containing the post-event period

Supported: every cited series is computable

Every series the outcome record cites has a recorded series type, so the before and after view compares it.

Observation state
Observed
Value basis
Calculated from published series
Outcome window
Q4 2022 - Q3 2023 against Q4 2021 - Q3 2022 · calendar · anchored to the effective date
Temporal relationship
Window recorded as "Q4 2022 - Q3 2023 against Q4 2021 - Q3 2022" (calendar), anchored to the effective date 30 September 2022. No dated window is stored and the label gives no dates, so it is not placed.

HDB Resale Price Index

INDEX · Computable

180 days before

None

0/180 days

180 days after

171.9

Q4 2022 · 92/180 days

Observed change

Not stated

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

Source named: Computed by Prevo from Housing & Development Board HDB Resale Price Index, first 4 calendar quarters containing the post-event period, level at end, periods Q3 2022 to Q3 2023Primary source cited for HDB Resale Price Index: Housing & Development BoardDerived observationEvidence incomplete
  • Gap: The source is named in text; no source document is attached to the outcome record.
Why is this linked?
  1. Policy event

    Singapore raises property-loan stress-test floors, cuts the HDB housing-loan LTV limit to 80%, and introduces a temporary 15-month HDB resale wait-out

    Announced 29 September 2022, effective 30 September 2022

  2. Outcome record

    Outcome record 1: HDB resale market, first four calendar quarters containing the post-event period

    Calendar window "Q4 2022 - Q3 2023 against Q4 2021 - Q3 2022", anchored to the effective date

  3. Metric

    HDB Resale Price Index

    Series type: INDEX

  4. Observed series

    Observed series, value in the latest whole quarterly period inside each 180-day window

    Before: no whole period. After: Q4 2022.

  5. Source

    Housing & Development Board

    Primary source

As recorded on the outcome

Transaction count 27,885 to 25,755, a fall of 7.6%, on symmetric FLOW windows. Transaction-level median resale price 515,000 to 545,000, a rise of 5.8%, uncontrolled for flat mix. HDB Resale Price Index 168.1 to 178.5, a rise of 6.19%, mix-controlled, point to point Q3 2022 to Q3 2023. Every flat type rose more than the aggregate median: 2-room 10.3%, 3-room 7.8%, 4-room 7.6%, 5-room 6.1%, executive 7.8%, against a headline 5.8%.

Record identifiers

event evt_sg_2022_cooling_sep · outcome 0c000000-0000-4000-8000-000000060001 · metrics bd89e9e1-83d4-4cb1-a341-40896143b8d8

Outcome record 5

HDB Resale Price Index, annual trajectory after implementation

Supported: every cited series is computable

Every series the outcome record cites has a recorded series type, so the before and after view compares it.

Observation state
Observed
Value basis
Derived by hand
Outcome window
calendar 2023, 2024, 2025 and 2026 to date · calendar · anchored to the effective date
Temporal relationship
Window recorded as "calendar 2023, 2024, 2025 and 2026 to date" (calendar), anchored to the effective date 30 September 2022. No dated window is stored and the label gives no dates, so it is not placed.

HDB Resale Price Index

INDEX · Computable

180 days before

None

0/180 days

180 days after

171.9

Q4 2022 · 92/180 days

Observed change

Not stated

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

Primary source cited for HDB Resale Price Index: Housing & Development BoardDerived observationEvidence incomplete
  • Gap: Evidence record exists, but no source is named on it.
Why is this linked?
  1. Policy event

    Singapore raises property-loan stress-test floors, cuts the HDB housing-loan LTV limit to 80%, and introduces a temporary 15-month HDB resale wait-out

    Announced 29 September 2022, effective 30 September 2022

  2. Outcome record

    Outcome record 5: HDB Resale Price Index, annual trajectory after implementation

    Calendar window "calendar 2023, 2024, 2025 and 2026 to date", anchored to the effective date

  3. Metric

    HDB Resale Price Index

    Series type: INDEX

  4. Observed series

    Observed series, value in the latest whole quarterly period inside each 180-day window

    Before: no whole period. After: Q4 2022.

  5. Source

    Housing & Development Board

    Primary source

As recorded on the outcome

2023 up 4.94% (171.9 to 180.4). 2024 up 9.70% (180.4 to 197.9). 2025 up 2.88% (197.9 to 203.6). 2026 to date down 0.39% (203.6 to 202.8), a half year, Q4 2025 to Q2 2026.

Record identifiers

event evt_sg_2022_cooling_sep · outcome 0c000000-0000-4000-8000-000000060005 · metrics bd89e9e1-83d4-4cb1-a341-40896143b8d8

Outcome record 6

Private residential market, prices and volume

Supported: every cited series is computable

Every series the outcome record cites has a recorded series type, so the before and after view compares it.

Observation state
Observed
Value basis
Derived by hand
Outcome window
Q4 2022 - Q3 2023 against Q4 2021 - Q3 2022; prices point to point Q3 2022 to Q3 2023 · calendar · anchored to the effective date
Temporal relationship
Window recorded as "Q4 2022 - Q3 2023 against Q4 2021 - Q3 2022; prices point to point Q3 2022 to Q3 2023" (calendar), anchored to the effective date 30 September 2022. No dated window is stored and the label gives no dates, so it is not placed.

Private Residential Property Price Index, All Residential

INDEX · Computable

180 days before

None

0/180 days

180 days after

188.6

Q4 2022 · 92/180 days

Observed change

Not stated

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

Price index of non-landed private residential properties, Core Central Region

INDEX · Computable

180 days before

None

0/180 days

180 days after

145.4

Q4 2022 · 92/180 days

Observed change

Not stated

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

Price index of non-landed private residential properties, Outside Central Region

INDEX · Computable

180 days before

None

0/180 days

180 days after

218.2

Q4 2022 · 92/180 days

Observed change

Not stated

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

Price index of non-landed private residential properties, Rest of Central Region

INDEX · Computable

180 days before

None

0/180 days

180 days after

204.9

Q4 2022 · 92/180 days

Observed change

Not stated

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

Singapore private residential transactions, New Sale (Uncompleted)

FLOW · Computable

180 days before

None

0/180 days

180 days after

620

Q4 2022 · 92/180 days

Observed change

Not stated

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

Singapore private residential transactions, Resale

FLOW · Computable

180 days before

None

0/180 days

180 days after

2,694

Q4 2022 · 92/180 days

Observed change

Not stated

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

Singapore private residential transactions, Sub Sale

FLOW · Computable

180 days before

None

0/180 days

180 days after

204

Q4 2022 · 92/180 days

Observed change

Not stated

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

Primary source cited for Private Residential Property Price Index, All Residential: Urban Redevelopment AuthorityPrimary source cited for Price index of non-landed private residential properties, Core Central Region: Urban Redevelopment AuthorityPrimary source cited for Price index of non-landed private residential properties, Outside Central Region: Urban Redevelopment AuthorityPrimary source cited for Price index of non-landed private residential properties, Rest of Central Region: Urban Redevelopment AuthorityPrimary source cited for Singapore private residential transactions, New Sale (Uncompleted): Urban Redevelopment AuthorityPrimary source cited for Singapore private residential transactions, Resale: Urban Redevelopment AuthorityPrimary source cited for Singapore private residential transactions, Sub Sale: Urban Redevelopment AuthorityDerived observationEvidence incomplete
  • Gap: Evidence record exists, but no source is named on it.
Why is this linked?
  1. Policy event

    Singapore raises property-loan stress-test floors, cuts the HDB housing-loan LTV limit to 80%, and introduces a temporary 15-month HDB resale wait-out

    Announced 29 September 2022, effective 30 September 2022

  2. Outcome record

    Outcome record 6: Private residential market, prices and volume

    Calendar window "Q4 2022 - Q3 2023 against Q4 2021 - Q3 2022; prices point to point Q3 2022 to Q3 2023", anchored to the effective date

  3. Metric

    Private Residential Property Price Index, All Residential

    Series type: INDEX

  4. Observed series

    Observed series, value in the latest whole quarterly period inside each 180-day window

    Before: no whole period. After: Q4 2022.

  5. Source

    Urban Redevelopment Authority

    Primary source

  6. Metric

    Price index of non-landed private residential properties, Core Central Region

    Series type: INDEX

  7. Observed series

    Observed series, value in the latest whole quarterly period inside each 180-day window

    Before: no whole period. After: Q4 2022.

  8. Source

    Urban Redevelopment Authority

    Primary source

  9. Metric

    Price index of non-landed private residential properties, Outside Central Region

    Series type: INDEX

  10. Observed series

    Observed series, value in the latest whole quarterly period inside each 180-day window

    Before: no whole period. After: Q4 2022.

  11. Source

    Urban Redevelopment Authority

    Primary source

  12. Metric

    Price index of non-landed private residential properties, Rest of Central Region

    Series type: INDEX

  13. Observed series

    Observed series, value in the latest whole quarterly period inside each 180-day window

    Before: no whole period. After: Q4 2022.

  14. Source

    Urban Redevelopment Authority

    Primary source

  15. Metric

    Singapore private residential transactions, New Sale (Uncompleted)

    Series type: FLOW

  16. Observed series

    Observed series, total over whole quarterly periods inside each 180-day window

    Before: no whole period. After: Q4 2022.

  17. Source

    Urban Redevelopment Authority

    Primary source

  18. Metric

    Singapore private residential transactions, Resale

    Series type: FLOW

  19. Observed series

    Observed series, total over whole quarterly periods inside each 180-day window

    Before: no whole period. After: Q4 2022.

  20. Source

    Urban Redevelopment Authority

    Primary source

  21. Metric

    Singapore private residential transactions, Sub Sale

    Series type: FLOW

  22. Observed series

    Observed series, total over whole quarterly periods inside each 180-day window

    Before: no whole period. After: Q4 2022.

  23. Source

    Urban Redevelopment Authority

    Primary source

As recorded on the outcome

Prices, point to point Q3 2022 to Q3 2023: overall PPI 187.8 to 196.0, up 4.37%; CCR non-landed 144.4 to 142.5, down 1.32%; RCR non-landed 198.7 to 213.0, up 7.20%; OCR non-landed 224.0 to 237.4, up 5.98%. Volume, island-wide, symmetric FLOW windows: resale 17,723 to 12,011, down 32.2%; all types of sale 29,162 to 19,245, down 34.0%; new sale of uncompleted units 10,537 to 5,986, down 43.2%; sub-sale 649 to 974, up 50.1%.

Record identifiers

event evt_sg_2022_cooling_sep · outcome 0c000000-0000-4000-8000-000000060006 · metrics 7cbef7bc-b216-48c3-851c-91b71553b792, 602eacbe-145c-4dbf-b658-5957ce26496f, 97b127fe-01f7-4813-aa36-c1b09cf518d2, 6a3dbae0-b20d-4f58-8822-d7ef9cbd6648, d3b898e9-92c8-470a-acfd-4d12c9b97184, 085aba1c-43f9-44ac-8333-368bb9ee7c76, a4f5cf1a-54d9-43e7-8b89-b509aa3c9791

Outcome record 7

Private residential rental index

Supported: every cited series is computable

Every series the outcome record cites has a recorded series type, so the before and after view compares it.

Observation state
Observed
Value basis
Calculated from published series
Outcome window
point to point Q3 2022 to Q3 2023 · calendar · anchored to the effective date
Temporal relationship
Spans the event. Window "point to point Q3 2022 to Q3 2023" read as 1 July 2022 to 30 September 2023, against the effective date 30 September 2022. No dated window is stored; the dates are read from the label.

Private Residential Rental Index, Landed, Whole Island

INDEX · Computable

180 days before

None

0/180 days

180 days after

128.7

Q4 2022 · 92/180 days

Observed change

Not stated

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

Private Residential Rental Index, Non-Landed, Whole Island

INDEX · Computable

180 days before

None

0/180 days

180 days after

150

Q4 2022 · 92/180 days

Observed change

Not stated

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

Private Residential Rental Index, Non-Landed, Core Central Region

INDEX · Computable

180 days before

None

0/180 days

180 days after

143.1

Q4 2022 · 92/180 days

Observed change

Not stated

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

Private Residential Rental Index, Non-Landed, Outside Central Region

INDEX · Computable

180 days before

None

0/180 days

180 days after

156.1

Q4 2022 · 92/180 days

Observed change

Not stated

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

Private Residential Rental Index, Non-Landed, Rest of Central Region

INDEX · Computable

180 days before

None

0/180 days

180 days after

156

Q4 2022 · 92/180 days

Observed change

Not stated

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

Source named: Computed by Prevo from Urban Redevelopment Authority Private Residential Rental Index, Non-Landed, Whole Island, first 4 calendar quarters containing the post-event period, level at end, periods Q3 2022 to Q3 2023Primary source cited for Private Residential Rental Index, Landed, Whole Island: Urban Redevelopment AuthorityPrimary source cited for Private Residential Rental Index, Non-Landed, Whole Island: Urban Redevelopment AuthorityPrimary source cited for Private Residential Rental Index, Non-Landed, Core Central Region: Urban Redevelopment AuthorityPrimary source cited for Private Residential Rental Index, Non-Landed, Outside Central Region: Urban Redevelopment AuthorityPrimary source cited for Private Residential Rental Index, Non-Landed, Rest of Central Region: Urban Redevelopment AuthorityDerived observationEvidence incomplete
  • Gap: The source is named in text; no source document is attached to the outcome record.
Why is this linked?
  1. Policy event

    Singapore raises property-loan stress-test floors, cuts the HDB housing-loan LTV limit to 80%, and introduces a temporary 15-month HDB resale wait-out

    Announced 29 September 2022, effective 30 September 2022

  2. Outcome record

    Outcome record 7: Private residential rental index

    Calendar window "point to point Q3 2022 to Q3 2023", anchored to the effective date

  3. Metric

    Private Residential Rental Index, Landed, Whole Island

    Series type: INDEX

  4. Observed series

    Observed series, value in the latest whole quarterly period inside each 180-day window

    Before: no whole period. After: Q4 2022.

  5. Source

    Urban Redevelopment Authority

    Primary source

  6. Metric

    Private Residential Rental Index, Non-Landed, Whole Island

    Series type: INDEX

  7. Observed series

    Observed series, value in the latest whole quarterly period inside each 180-day window

    Before: no whole period. After: Q4 2022.

  8. Source

    Urban Redevelopment Authority

    Primary source

  9. Metric

    Private Residential Rental Index, Non-Landed, Core Central Region

    Series type: INDEX

  10. Observed series

    Observed series, value in the latest whole quarterly period inside each 180-day window

    Before: no whole period. After: Q4 2022.

  11. Source

    Urban Redevelopment Authority

    Primary source

  12. Metric

    Private Residential Rental Index, Non-Landed, Outside Central Region

    Series type: INDEX

  13. Observed series

    Observed series, value in the latest whole quarterly period inside each 180-day window

    Before: no whole period. After: Q4 2022.

  14. Source

    Urban Redevelopment Authority

    Primary source

  15. Metric

    Private Residential Rental Index, Non-Landed, Rest of Central Region

    Series type: INDEX

  16. Observed series

    Observed series, value in the latest whole quarterly period inside each 180-day window

    Before: no whole period. After: Q4 2022.

  17. Source

    Urban Redevelopment Authority

    Primary source

As recorded on the outcome

Non-landed whole island 139.5 to 163.3, up 17.06%. Non-landed CCR 133.4 to 152.7, up 14.47%. Non-landed RCR 145.4 to 172.2, up 18.43%. Non-landed OCR 144.3 to 172.6, up 19.61%. Landed whole island 121.1 to 164.2, up 35.59%.

Record identifiers

event evt_sg_2022_cooling_sep · outcome 0c000000-0000-4000-8000-000000060007 · metrics 0b36d9e5-621a-4c23-ba96-4ef5117fd225, 9871f611-479b-4a74-9ce7-79b64905b27c, af7a4c19-7ccf-4852-9430-67ad37c1d374, caa66796-84c1-4933-9f90-45fb7703c7aa, eaa330c2-46ae-46d1-ac4a-bc53237ae637

Outcome record 2

Million-dollar HDB resale transactions

Observed

Observed and recorded in words, without a structured series.

Observation state
Observed
Value basis
Derived by hand
Outcome window
Q4 2022 - Q3 2023 against Q4 2021 - Q3 2022 · calendar · anchored to the effective date
Temporal relationship
Window recorded as "Q4 2022 - Q3 2023 against Q4 2021 - Q3 2022" (calendar), anchored to the effective date 30 September 2022. No dated window is stored and the label gives no dates, so it is not placed.
Derived observationEvidence incomplete
  • Gap: Evidence record exists, but no source is named on it.
Why is this linked?
  1. Policy event

    Singapore raises property-loan stress-test floors, cuts the HDB housing-loan LTV limit to 80%, and introduces a temporary 15-month HDB resale wait-out

    Announced 29 September 2022, effective 30 September 2022

  2. Outcome record

    Outcome record 2: Million-dollar HDB resale transactions

    Calendar window "Q4 2022 - Q3 2023 against Q4 2021 - Q3 2022", anchored to the effective date

  3. Source

    No source named

As recorded on the outcome

Count 362 to 428, a rise of 18.2%. Share of all resale transactions 1.30% to 1.66%. Median within the subset 1,088,000 to 1,088,000, unchanged. Monthly counts across the anchor ran 45 in September 2022, then 38, 26 and 28 through Q4 2022.

Record identifiers

event evt_sg_2022_cooling_sep · outcome 0c000000-0000-4000-8000-000000060002

Outcome record 3

Buyer composition among million-dollar HDB resale buyers

Observed

Observed and recorded in words, without a structured series.

Observation state
Observed
Value basis
Source-stated figure · Observed · origin: Source fact
Outcome window
1 January to 29 September 2022 · calendar · anchored to the effective date
Temporal relationship
Observed before the event. Window "1 January to 29 September 2022" read as 1 January 2022 to 29 September 2022, against the effective date 30 September 2022. No dated window is stored; the dates are read from the label.
Source document not attachedEvidence incomplete
  • Gap: Evidence record exists, but no source is named on it.
Why is this linked?
  1. Policy event

    Singapore raises property-loan stress-test floors, cuts the HDB housing-loan LTV limit to 80%, and introduces a temporary 15-month HDB resale wait-out

    Announced 29 September 2022, effective 30 September 2022

  2. Outcome record

    Outcome record 3: Buyer composition among million-dollar HDB resale buyers

    Calendar window "1 January to 29 September 2022", anchored to the effective date

  3. Source

    No source named

As recorded on the outcome

Private-property owners and former owners represented approximately 34% of buyers of HDB resale flats sold for S$1 million or more between 1 January and 29 September 2022.

Record identifiers

event evt_sg_2022_cooling_sep · outcome 0c000000-0000-4000-8000-000000060003

Outcome record 4

HDB resale volume by flat type

Observed

Observed and recorded in words, without a structured series.

Observation state
Observed
Value basis
Derived by hand
Outcome window
Q4 2022 - Q3 2023 against Q4 2021 - Q3 2022 · calendar · anchored to the effective date
Temporal relationship
Window recorded as "Q4 2022 - Q3 2023 against Q4 2021 - Q3 2022" (calendar), anchored to the effective date 30 September 2022. No dated window is stored and the label gives no dates, so it is not placed.
Derived observationEvidence incomplete
  • Gap: Evidence record exists, but no source is named on it.
Why is this linked?
  1. Policy event

    Singapore raises property-loan stress-test floors, cuts the HDB housing-loan LTV limit to 80%, and introduces a temporary 15-month HDB resale wait-out

    Announced 29 September 2022, effective 30 September 2022

  2. Outcome record

    Outcome record 4: HDB resale volume by flat type

    Calendar window "Q4 2022 - Q3 2023 against Q4 2021 - Q3 2022", anchored to the effective date

  3. Source

    No source named

As recorded on the outcome

2-room up 48.7%, 3-room down 1.7%, 4-room down 3.9%, 5-room down 17.3%, executive down 24.8%, multi-generation down 57.1%, on symmetric FLOW windows. Larger flats bore almost the entire volume decline.

Record identifiers

event evt_sg_2022_cooling_sep · outcome 0c000000-0000-4000-8000-000000060004

Outcome record 8

HDB rental market, median rent

Observed

Observed and recorded in words, without a structured series.

Observation state
Observed
Value basis
Derived by hand
Outcome window
Q3 2022 to Q3 2023 · calendar · anchored to the effective date
Temporal relationship
Spans the event. Window "Q3 2022 to Q3 2023" read as 1 July 2022 to 30 September 2023, against the effective date 30 September 2022. No dated window is stored; the dates are read from the label.
Derived observationEvidence incomplete
  • Gap: Evidence record exists, but no source is named on it.
Why is this linked?
  1. Policy event

    Singapore raises property-loan stress-test floors, cuts the HDB housing-loan LTV limit to 80%, and introduces a temporary 15-month HDB resale wait-out

    Announced 29 September 2022, effective 30 September 2022

  2. Outcome record

    Outcome record 8: HDB rental market, median rent

    Calendar window "Q3 2022 to Q3 2023", anchored to the effective date

  3. Source

    No source named

As recorded on the outcome

Aggregate up 23.5%. 3-room up 22.7%. 4-room up 23.6%. 5-room up 24.6%. Coverage is 3-room through 5-room only: 1-room, 2-room and executive return no towns with data in both quarters.

Record identifiers

event evt_sg_2022_cooling_sep · outcome 0c000000-0000-4000-8000-000000060008

Outcome record 10

Cross-market comparison, HDB against private

Observed

Observed and recorded in words, without a structured series.

Observation state
Observed
Value basis
Derived by hand
Outcome window
Q4 2022 - Q3 2023 against Q4 2021 - Q3 2022; prices point to point Q3 2022 to Q3 2023 · calendar · anchored to the effective date
Temporal relationship
Window recorded as "Q4 2022 - Q3 2023 against Q4 2021 - Q3 2022; prices point to point Q3 2022 to Q3 2023" (calendar), anchored to the effective date 30 September 2022. No dated window is stored and the label gives no dates, so it is not placed.
Derived observationEvidence incomplete
  • Gap: Evidence record exists, but no source is named on it.
Why is this linked?
  1. Policy event

    Singapore raises property-loan stress-test floors, cuts the HDB housing-loan LTV limit to 80%, and introduces a temporary 15-month HDB resale wait-out

    Announced 29 September 2022, effective 30 September 2022

  2. Outcome record

    Outcome record 10: Cross-market comparison, HDB against private

    Calendar window "Q4 2022 - Q3 2023 against Q4 2021 - Q3 2022; prices point to point Q3 2022 to Q3 2023", anchored to the effective date

  3. Source

    No source named

As recorded on the outcome

HDB resale price up 6.19% and volume down 7.6%. Private resale price up 4.37% and volume down 32.2%. Private volume fell roughly four times as hard as HDB volume while HDB prices grew faster, despite three of the package's four instruments targeting HDB.

Record identifiers

event evt_sg_2022_cooling_sep · outcome 0c000000-0000-4000-8000-000000060010

Outcome record 11

Seasonal anomaly at the anchor quarter

Observed

Observed and recorded in words, without a structured series.

Observation state
Observed
Value basis
Derived by hand
Outcome window
Q4 2022 · calendar · anchored to the effective date
Temporal relationship
Begins on or after the event. Window "Q4 2022" read as 1 October 2022 to 31 December 2022, against the effective date 30 September 2022. No dated window is stored; the dates are read from the label.
Derived observationEvidence incomplete
  • Gap: Evidence record exists, but no source is named on it.
Why is this linked?
  1. Policy event

    Singapore raises property-loan stress-test floors, cuts the HDB housing-loan LTV limit to 80%, and introduces a temporary 15-month HDB resale wait-out

    Announced 29 September 2022, effective 30 September 2022

  2. Outcome record

    Outcome record 11: Seasonal anomaly at the anchor quarter

    Calendar window "Q4 2022", anchored to the effective date

  3. Source

    No source named

As recorded on the outcome

HDB resale Q4 volume as a percentage of September volume times three: 2019 108.6%, 2020 97.2%, 2021 99.2%, 2022 81.7%, 2023 106.7%, 2024 93.5%. Q4 2022 is the outlier against a five-year seasonal baseline, roughly 15 points below the weakest comparison year.

Record identifiers

event evt_sg_2022_cooling_sep · outcome 0c000000-0000-4000-8000-000000060011

Outcome record 12

Buyer composition, the January to November 2024 observation (split from outcome 3)

Observed

Observed and recorded in words, without a structured series.

Observation state
Observed
Value basis
Source-stated figure · Observed · origin: Source fact
Outcome window
January to November 2024 · calendar · anchored to the effective date
Temporal relationship
Begins on or after the event. Window "January to November 2024" read as 1 January 2024 to 30 November 2024, against the effective date 30 September 2022. No dated window is stored; the dates are read from the label.
Source document not attachedEvidence incomplete
  • Gap: Evidence record exists, but no source is named on it.
Why is this linked?
  1. Policy event

    Singapore raises property-loan stress-test floors, cuts the HDB housing-loan LTV limit to 80%, and introduces a temporary 15-month HDB resale wait-out

    Announced 29 September 2022, effective 30 September 2022

  2. Outcome record

    Outcome record 12: Buyer composition, the January to November 2024 observation (split from outcome 3)

    Calendar window "January to November 2024", anchored to the effective date

  3. Source

    No source named

As recorded on the outcome

Private-property owners and former owners represented approximately 12% of buyers of HDB resale flats sold for S$1 million or more between January and November 2024.

Record identifiers

event evt_sg_2022_cooling_sep · outcome 0c000000-0000-4000-8000-000000060012

Outcome record 9

Private residential rental volume (the volume half of the canonical file's O7)

Unresolved

Data unavailable: no observation is recorded.

Observation state
Data unavailable
Value basis
Not derived: no value recorded yet · Not derived · origin: Unresolved
Outcome window
Q4 2022 - Q3 2023 against Q4 2021 - Q3 2022 · calendar · anchored to the effective date
Temporal relationship
Window recorded as "Q4 2022 - Q3 2023 against Q4 2021 - Q3 2022" (calendar), anchored to the effective date 30 September 2022. No dated window is stored and the label gives no dates, so it is not placed.
Source document not attachedEvidence incomplete
  • Gap: Evidence record exists, but no source is named on it.
Why is this linked?
  1. Policy event

    Singapore raises property-loan stress-test floors, cuts the HDB housing-loan LTV limit to 80%, and introduces a temporary 15-month HDB resale wait-out

    Announced 29 September 2022, effective 30 September 2022

  2. Outcome record

    Outcome record 9: Private residential rental volume (the volume half of the canonical file's O7)

    Calendar window "Q4 2022 - Q3 2023 against Q4 2021 - Q3 2022", anchored to the effective date

  3. Source

    No source named

Record identifiers

event evt_sg_2022_cooling_sep · outcome 0c000000-0000-4000-8000-000000060009

Associated indicators (3)

Observed around the selected event: a series mapped to this kind of event, cited by no outcome record.

Singapore private residential transactions, all types of sale

Unresolved

No whole period of this series falls inside the 180-day windows, so nothing is observed at this window length.

Temporal relationship
After: Q4 2022, beginning on or after the event. A period that spans 30 September 2022 counts on neither side.

Singapore private residential transactions, all types of sale

FLOW · Computable

180 days before

None

0/180 days

180 days after

3,588

Q4 2022 · 92/180 days

Observed change

Not stated

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

Primary source cited: Urban Redevelopment Authority
Why is this linked?
  1. Policy event

    Singapore raises property-loan stress-test floors, cuts the HDB housing-loan LTV limit to 80%, and introduces a temporary 15-month HDB resale wait-out

    Announced 29 September 2022, effective 30 September 2022

  2. Category mapping

    Series mapped to cooling measure events

    No outcome record cites it

  3. Metric

    Singapore private residential transactions, all types of sale

    Series type: FLOW

  4. Observed series

    Observed series, total over whole quarterly periods inside each 180-day window

    Before: no whole period. After: Q4 2022.

  5. Source

    Urban Redevelopment Authority

    Primary source

Record identifiers

event evt_sg_2022_cooling_sep · metrics 56dfd10a-d6b9-41a7-b183-7d2b09301f89

Uncompleted private residential units launched, all segments

Unresolved

No whole period of this series falls inside the 180-day windows, so nothing is observed at this window length.

Temporal relationship
After: Q4 2022, beginning on or after the event. A period that spans 30 September 2022 counts on neither side.

Uncompleted private residential units launched, all segments

FLOW · Computable

180 days before

None

0/180 days

180 days after

504

Q4 2022 · 92/180 days

Observed change

Not stated

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

Primary source cited: Urban Redevelopment Authority
Why is this linked?
  1. Policy event

    Singapore raises property-loan stress-test floors, cuts the HDB housing-loan LTV limit to 80%, and introduces a temporary 15-month HDB resale wait-out

    Announced 29 September 2022, effective 30 September 2022

  2. Category mapping

    Series mapped to cooling measure events

    No outcome record cites it

  3. Metric

    Uncompleted private residential units launched, all segments

    Series type: FLOW

  4. Observed series

    Observed series, total over whole quarterly periods inside each 180-day window

    Before: no whole period. After: Q4 2022.

  5. Source

    Urban Redevelopment Authority

    Primary source

Record identifiers

event evt_sg_2022_cooling_sep · metrics b54971ec-d7fd-42ac-9a27-1fe60f0dd742

Private residential units sold, all segments (uncompleted plus completed)

Unresolved

No whole period of this series falls inside the 180-day windows, so nothing is observed at this window length.

Temporal relationship
After: Q4 2022, beginning on or after the event. A period that spans 30 September 2022 counts on neither side.

Private residential units sold, all segments (uncompleted plus completed)

FLOW · Computable

180 days before

None

0/180 days

180 days after

690

Q4 2022 · 92/180 days

Observed change

Not stated

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

Primary source cited: Urban Redevelopment Authority
Why is this linked?
  1. Policy event

    Singapore raises property-loan stress-test floors, cuts the HDB housing-loan LTV limit to 80%, and introduces a temporary 15-month HDB resale wait-out

    Announced 29 September 2022, effective 30 September 2022

  2. Category mapping

    Series mapped to cooling measure events

    No outcome record cites it

  3. Metric

    Private residential units sold, all segments (uncompleted plus completed)

    Series type: FLOW

  4. Observed series

    Observed series, total over whole quarterly periods inside each 180-day window

    Before: no whole period. After: Q4 2022.

  5. Source

    Urban Redevelopment Authority

    Primary source

Record identifiers

event evt_sg_2022_cooling_sep · metrics 1aafa238-9f36-4859-81ee-d6aef8e6b1a2

Related policy events

Related policy events