Singapore property policy archive
Each event is traced to its sources, compared with precedent and followed to its outcomes. Every claim shows its own verification level, and where a source is not yet held, the record says so.
7 December 2011
Singapore introduces the Additional Buyer's Stamp Duty
On 7 December 2011 Singapore introduced the Additional Buyer's Stamp Duty, effective the next day: 10% for foreigners and non-individuals buying any residential property, 3% for Permanent Residents owning one property and buying a second or subsequent, and 3% for citizens owning two and buying a third or subsequent.
13 January 2011
Singapore raises SSD to 16% to 4% over four years and tightens LTV limits again
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.
22 November 2010
Singapore lets the Controller of Residential Property charge housing developers for extensions of time
From 17 January 2011 the Controller of Residential Property may require a housing developer to pay an extension charge when extending the completion or disposal period attached to its approval under section 31 of the Residential Property Act, the approval SLA and MinLaw call a Qualifying Certificate.
30 August 2010
Singapore extends SSD to three years and tightens financing for borrowers with outstanding housing loans
On 30 August 2010 Singapore extended the Seller's Stamp Duty holding period from one year to three, applying the full progressive scale in year one, two-thirds in year two and one-third in year three.
19 February 2010
Singapore introduces Seller's Stamp Duty and reduces the housing-loan LTV limit
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.
14 September 2009
Singapore disallows the Interest Absorption Scheme and interest-only housing loans and reinstates the GLS Confirmed List
On 14 September 2009 Singapore disallowed the Interest Absorption Scheme and interest-only housing loans with immediate effect for all private residential projects, except uncompleted projects whose units had already been offered for sale under the scheme before that date.