Policy before and after · Macroprudential

Singapore raises SSD to 16% to 4% over four years and tightens LTV limits again

Announced 13 January 2011 · Effective 14 January 2011

Read the full event recordCompare with another policyCreate research brief

Comparison anchored to effective date: 14 January 2011. Before: 15 December 2010 to 13 January 2011. After: 14 January 2011 to 12 February 2011. The same 30 days on each side; the anchor day counts as after.

Before · 15 Dec 2010 to 13 Jan 2011

3 land-sales awards

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

The event

Announced 13 Jan 2011

Effective 14 Jan 2011

The effective date is the anchor.

After · 14 Jan 2011 to 12 Feb 2011

1 land-sales award

  • 10 land-sales steps in all
  • All 30 days observable

What this comparison can and cannot show

Generated from this window's records

Recorded

  • 3 verified claims on this event record a before and an after value.
  • 3 land-sales awards in the 30 days before the effective date, and 1 in the 30 observable days after.
  • None of the 4 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
13 January 2011
Effective
14 January 2011
Issuing authority
Monetary Authority of Singapore, Ministry of National Development, Ministry of Finance
Category
Macroprudential
Affected market
Residential property acquired on or after 14 January 2011, and housing loans from MAS-regulated financial institutions to individuals with outstanding housing loans and to non-individual purchasers.
Primary source
Measures to maintain a stable and sustainable property market. Joint press release, Ministry of National Development, Ministry of Finance and Monetary Authority of Singapore, 13 January 2011.

On 13 January 2011 Singapore extended the Seller's Stamp Duty holding period to four years and replaced the progressive schedule with flat rates of 16%, 12%, 8% and 4%, reduced the loan-to-value limit to 60% for individuals with one or more outstanding housing loans, and imposed a 50% limit on non-individual purchasers.

In brief

In brief

  • 3 GLS site awards were recorded in the before window and 1 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
SSD for disposal within the first year, on the full dutiable value3%16%+13 ptsClaim 1
Revised SSD holding period, extended from three yearsyears34+33.3%Claim 2
LTV for individuals with outstanding housing loans, from 70%70%60%−10 ptsClaim 3

Observed around this event

View linked outcomes

The 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 quarterly periods inside each 30-day window

Before

None

Coverage 0/30 days

After

None

Coverage 0/30 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 30-day window

Before

None

Coverage 0/30 days

After

None

Coverage 0/30 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 30-day window

Before

None

Coverage 0/30 days

After

None

Coverage 0/30 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

7 lines

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

From the effective date

11 lines

10 land-sales steps (1 award) · 1 archive event

Explore concurrent events

Before (7)

  1. 16 December 2010 · Land sales

    Seletar Road: Awarded

    Residential · status on 16 December 2010: Awarded · awarded to Asplenium Land Pte. Ltd. at S$123,000,000

  2. 5 January 2011 · Land sales

    Yuan Ching Road: Tender closed

    Design, Build and Sell Scheme public housing · status on 5 January 2011: Tender closed, award pending

  3. 5 January 2011 · Land sales

    Robinson Road / Boon Tat Street: Tender closed

    Hotel · status on 5 January 2011: Tender closed, award pending

  4. 6 January 2011 · Land sales

    Robertson Quay: Launched for tender

    Hotel · status on 6 January 2011: Tender open

  5. 10 January 2011 · Land sales

    Yuan Ching Road: Awarded

    Design, Build and Sell Scheme public housing · status on 10 January 2011: Awarded · awarded to Hoi Hup Realty Pte Ltd, Sunway Developments Pte Ltd and SC Wong Holdings Pte Ltd at S$131,600,000

  6. 11 January 2011 · Land sales

    Gopeng Street / Peck Seah Street: Tender closed

    Hotel · status on 11 January 2011: Tender closed, award pending

  7. 11 January 2011 · Land sales

    Robinson Road / Boon Tat Street: Awarded

    Hotel · status on 11 January 2011: Awarded · awarded to Royal Group Holdings Pte Ltd at S$86,000,000

After (11)

  1. 14 January 2011 · Land sales

    Gopeng Street / Peck Seah Street: Awarded

    Hotel · status on 14 January 2011: Awarded · awarded to Golden Development Private Limited at S$194,770,000

  2. 17 January 2011 · Archive event

    Singapore lets the Controller of Residential Property charge housing developers for extensions of time

    Effective 17 January 2011

  3. 18 January 2011 · Land sales

    Bedok Reservoir Road: Launched for tender

    Residential · status on 18 January 2011: Tender open

  4. 19 January 2011 · Land sales

    Kaki Bukit Road 4: Launched for tender

    Business 2 · status on 19 January 2011: Tender open

  5. 21 January 2011 · Land sales

    Choa Chu Kang Drive: Launched for tender

    Executive Condominium housing · status on 21 January 2011: Tender open

  6. 21 January 2011 · Land sales

    Sengkang Square / Compassvale Road: Launched for tender

    Condominium or Flats · status on 21 January 2011: Tender open

  7. 21 January 2011 · Land sales

    Bishan Street 14: Launched for tender

    Condominium or Flats · status on 21 January 2011: Tender open

  8. 26 January 2011 · Land sales

    Clementi Avenue 4: Launched for tender

    Design, Build and Sell Scheme public housing · status on 26 January 2011: Tender open

  9. 27 January 2011 · Land sales

    Paya Lebar Road / Eunos Road 8: Launched for tender

    Commercial · status on 27 January 2011: Tender open

  10. 31 January 2011 · Land sales

    Ang Mo Kio Street 62: Launched for tender

    Business 1 · status on 31 January 2011: Tender open

  11. 10 February 2011 · Land sales

    Bartley Road / Lorong How Sun: Launched for tender

    Residential · status on 10 February 2011: Tender open

Methodology5 rules
  • Comparison anchored to effective date: 14 January 2011. 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 (5)

Primary sources5
  • Measures to maintain a stable and sustainable property market. Joint press release, Ministry of National Development, Ministry of Finance and Monetary Authority of Singapore, 13 January 2011.

    Ministry of National Development · Primary source · Published 13 January 2011

    Open original source

  • Joint Press Release on Measures Relating to Residential Property, 10 March 2017, with the SSD annex recording the schedule cut to 12/8/4 over three years. Also carries the TDSR and MEW relaxation and the ACD and PHE stamp-duty regime.

    Ministry of National Development · Primary source · Published 10 March 2017

    Open original source

  • Extension of the Holding Period of Seller's Stamp Duty and Higher SSD Rates for Residential Properties, 3 July 2025, with Table 1. Expressly reverts to the pre-2017 holding period and raises each tier by four percentage points.

    Ministry of Finance · Primary source · Published 3 July 2025

    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.