Cooling Measure Timeline

Quick answer: This timeline maps every major Singapore property cooling measure since the 2009 cycle: ABSD hikes, SSD windows, the introduction of TDSR and successive LTV cuts. Click any event to see the exact rule change and the observed market reaction 90, 180 and 365 days after.
Every SG property cooling measure since the 2009 cycle. Click each for the rule + observed market impact 90/180/365 days after.
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The information and insights provided on this page are for informational purposes only and are based on Winfred's independent research and views. While we strive to ensure accuracy and reliability, we do not guarantee the completeness, correctness, or timeliness of the data presented. Real estate investments are subject to various risks, including but not limited to market fluctuations, changes in economic conditions, interest rate volatility, regulatory shifts, liquidity constraints, and unforeseen property-specific risks. Past performance is not indicative of future results, and investment outcomes may vary. This page does not constitute investment, financial, or professional advice and should not be relied upon as such. Investors should conduct their own due diligence and seek advice from qualified professionals before making any investment decisions.

Frequently asked questions

What are property cooling measures in Singapore?

They are government interventions to keep the property market stable, including Additional Buyer's Stamp Duty, Seller's Stamp Duty, the Total Debt Servicing Ratio framework and Loan to Value limits. The timeline lays out each measure since 2009 so you can see how the toolkit has evolved over successive cycles.

When was ABSD first introduced and how has it changed?

ABSD was introduced in December 2011 and has been raised several times since, including the April 2023 round that lifted foreigner ABSD to 60 percent and raised rates for citizens and permanent residents buying additional homes. Click each event in the timeline for the specific rates that applied at the time.

What is TDSR and when did it start?

The Total Debt Servicing Ratio caps your total monthly debt repayments as a share of gross income, and was introduced in 2013 at 60 percent before later being adjusted to 55 percent. It was a structural reset rather than a one off tweak. The timeline marks when it landed and the market reaction that followed.

How did the market react after each cooling measure?

Reactions varied. Some measures barely dented an upward market while others cut transaction volumes sharply and flattened or reversed prices for several quarters. Each timeline entry records the observed impact at 90, 180 and 365 days, so you can see which moves reset the cycle and which were absorbed quickly.

Will there be more cooling measures?

Future moves are not announced in advance, and the timeline's final entry simply tracks possibilities rather than predictions. History shows measures arrive when the market runs hot and ease when it cools. Rather than guess, use the past pattern to plan resilient timing, and talk strategy through with Winfred Quek.