Policy before and after · Macroprudential
Singapore lowers the HDB housing-loan LTV limit from 80% to 75%
Announced 19 August 2024 · Effective 20 August 2024
Read the full event recordCompare with another policyCreate research brief
Comparison window
Comparison anchored to effective date: 20 August 2024. Before: 21 July 2024 to 19 August 2024. After: 20 August 2024 to 18 September 2024. The same 30 days on each side; the anchor day counts as after.
Before · 21 Jul 2024 to 19 Aug 2024
5 land-sales awards
- 7 land-sales steps in all
- 0 other archive events
The event
Announced 19 Aug 2024
Effective 20 Aug 2024
The effective date is the anchor.
After · 20 Aug 2024 to 18 Sep 2024
0 land-sales awards
- 3 land-sales steps in all
- All 30 days observable
What this comparison can and cannot show
Generated from this window's records
Recorded
- 2 verified claims on this event record a before and an after value.
- 5 land-sales awards in the 30 days before the effective date, and 0 in the 30 observable days after.
- None of the 3 tracked series has a whole period on both sides of a 30-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 August 2024
- Effective
- 20 August 2024
- Issuing authority
- Ministry of National Development, Housing & Development Board
- Category
- Macroprudential
- Affected market
- Housing loans granted by HDB for HDB flat purchases: resale purchases whose complete resale application reached HDB on or after 20 August 2024, 12.00am, and BTO applications from the October 2024 BTO exercise onwards. Loans from banks and other financial institutions are outside it; their 75% limit was stated unchanged.
- Primary source
- Measures to Cool the HDB Resale Market and Provide More Support for First-Time Home Buyers
On 19 August 2024 MND and HDB lowered the loan-to-value limit for housing loans granted by HDB from 80% to 75%, effective from 20 August 2024, 12.00am, for complete resale applications received by HDB on or after that date and for BTO applications from the October 2024 BTO exercise onwards. The limit for loans from banks and other financial institutions stayed at 75%, so the change brought the two headline limits level. The Government described the cut as five percentage points and gave as its reason sustained, strong, broad-based demand for HDB resale flats, citing resale price growth of more than 4% in the first half of 2024. It said the vast majority of HDB-loan borrowers would not be affected and that first-time buyers would be cushioned by housing grants. No change was announced to the TDSR, the MSR, loan tenure or the HDB concessionary interest rate.
In brief
In brief
- 5 GLS site awards were recorded in the before window and 0 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.
Observed around this event
View linked outcomesThe same statistic over the 30 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 periodic periods inside each 30-day window
Before
None
Coverage 0/30 days
After
None
Coverage 0/30 days
Difference
Not stated
No whole periodic 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 periodic period inside each 30-day window
Before
None
Coverage 0/30 days
After
None
Coverage 0/30 days
Difference
Not stated
No whole periodic 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 periodic period inside each 30-day window
Before
None
Coverage 0/30 days
After
None
Coverage 0/30 days
Difference
Not stated
No whole periodic 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
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
7 lines
7 land-sales steps (5 awards) · 0 archive events
From the effective date
3 lines
3 land-sales steps (0 awards) · 0 archive events
Explore concurrent eventsHide concurrent events
Before (7)
1 August 2024 · Land sales
Margaret Drive: Tender closedResidential · status on 1 August 2024: Tender closed, award pending
1 August 2024 · Land sales
Jalan Loyang Besar: Tender closedExecutive Condominium housing · status on 1 August 2024: Tender closed, award pending
7 August 2024 · Land sales
Canberra Crescent: AwardedResidential · status on 7 August 2024: Awarded · awarded to Peak Nature Pte Ltd and Huatland Development Pte. Ltd. at S$279,000,800
7 August 2024 · Land sales
De Souza Avenue: AwardedResidential · status on 7 August 2024: Awarded · awarded to SL Capital (8) Pte Ltd at S$278,900,000
7 August 2024 · Land sales
Zion Road (Parcel B): AwardedResidential · status on 7 August 2024: Awarded · awarded to Valerian Residential Pte. Ltd. at S$730,088,888
7 August 2024 · Land sales
Margaret Drive: AwardedResidential · status on 7 August 2024: Awarded · awarded to Intrepid Investments Pte. Ltd., Hong Realty (Private) Limited and GuocoLand (Singapore) Pte. Ltd. at S$497,000,000
16 August 2024 · Land sales
Jalan Loyang Besar: AwardedExecutive Condominium housing · status on 16 August 2024: Awarded · awarded to CNQC Realty (Progressive) Pte. Ltd., Forsea Residence Pte. Ltd. and ZACD Laserblue Pte. Ltd. at S$557,000,000
After (3)
22 August 2024 · Land sales
Tampines Street 95: Launched for tender, moved from the Reserve List to the Confirmed ListExecutive Condominium housing · status on 22 August 2024: Tender open
12 September 2024 · Land sales
Faber Walk: Launched for tenderResidential · status on 12 September 2024: Tender open
13 September 2024 · Land sales
Jurong Lake District Master Developer site: Not awarded, moved to the Reserve ListWhite site · status on 13 September 2024: Tender not awarded
Recorded relationships
- This event updates Singapore replaces the AHG and SHG with the Enhanced CPF Housing Grant (EHG) and raises HDB income ceilings.
- This event has as its direct predecessor 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.
Methodology5 rules
- Comparison anchored to effective date: 20 August 2024. 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 Cool the HDB Resale Market and Provide More Support for First-Time Home Buyers
Ministry of National Development · Primary source · Published 19 August 2024
Measures to Cool the HDB Resale Market and Provide Greater Support for First-time Home Buyers
Housing & Development Board · Primary source · Published 19 August 2024
Measures to Cool the HDB Resale Market and Greater Support for First-Time Home Buyers
Ministry of National Development · Primary source · Publication date not recorded
Event checked against its primary sources on 26 September 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.