Singapore's property cooling measures in 2026 comprise: ABSD (0–65%), TDSR cap at 55%, LTV limits (75% on first private property, 75% on HDB loans since August 2024), MSR cap 30% for HDB/EC, SSD up to 16% within 4 years (since 4 July 2025), and 35-year max loan tenure. MAS has signalled no further tightening unless private prices rise > 10% year-on-year.
The Singapore government has used cooling measures continuously since 2009 to manage residential price growth and maintain market stability. Each round adjusts buyer stamp duties, loan-to-value caps, debt-service ratios, or seller-side disincentives — sometimes one at a time, sometimes in coordinated packages. The cumulative effect: a tightly-regulated market with predictable rules and few sudden lurches.
This entry summarises the cooling measures currently in force in 2026 and the most consequential recent adjustments.
The most recent cooling measure was the 3 July 2025 SSD extension, lengthening the holding period from 3 to 4 years with rates raised 4 percentage points per tier — explicitly targeting short-term flippers (as of 2026-05). Before that, the August 2024 HDB LTV cut (80% → 75%) aligned public housing loans with private bank loans. The signature 27 April 2023 round doubled foreigner ABSD to 60% and raised SC second-property ABSD from 17% to 20%. MAS\'s 2025 commentary signals no further measures unless private residential prices spike beyond 10% year-on-year.
What Does It Mean?
Cooling measures are government policies designed to moderate the property market and prevent speculative bubbles. Key measures include ABSD rate hikes, TDSR/MSR borrowing limits, LTV ratio restrictions, and SSD holding period rules.
Current Rates
Singapore's property cooling measures include several interconnected policies:
ABSD rates range from 0% for Singapore Citizens buying their first home to 65% for entities. See the full ABSD and SSD rate tables in the related glossary articles.
Why It Matters
Cooling measures directly affect your purchasing power and costs. Policy changes (like the April 2023 ABSD hike) can add hundreds of thousands to your acquisition cost overnight.
Where to Find This on ShiokNest
- Stamp Duty Calculator
- TDSR Calculator
Look for the tooltip icon next to this metric on ShiokNest for a quick reminder of its definition.
Official Sources
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Current cooling measures matrix (as of 2026-05):
| Measure | Current setting | Last changed |
|---|---|---|
| ABSD — SC | 0% / 20% / 30% | 27 Apr 2023 |
| ABSD — PR | 5% / 30% / 35% | 27 Apr 2023 |
| ABSD — Foreigner | 60% | 27 Apr 2023 |
| ABSD — Entity | 65% | 27 Apr 2023 |
| SSD (residential) | 16% / 12% / 8% / 4% over 4 yrs | 4 Jul 2025 |
| TDSR (private) | 55% | 2018 |
| MSR (HDB/EC) | 30% | 2013 |
| LTV (private 1st loan) | 75% | Jul 2018 |
| LTV (HDB loan) | 75% | Aug 2024 |
| Loan tenure max (private) | 35 years | 2013 |
| Loan tenure max (HDB) | 30 years | 2013 |
Worked impact: a foreign individual buying a S$2M condo pays 60% × S$2M = S$1.2M in ABSD on top of S$74,600 BSD — meaning total stamp duty alone is 63.7% of purchase price. The combined effect makes Singapore residential one of the most foreigner-restrictive markets in Asia.
- Model your specific tier for ABSD, LTV, and TDSR before any commitment — these vary by buyer profile and property count.
- Don\'t time the market for "next round" — MAS has stated cooling measures are demand-side, not market-timing tools. Wait-for-change strategies generally underperform.
- Track MAS and MND press releases at mas.gov.sg for any announcement; changes are typically implemented within 24–48 hours of announcement.
- For grandfathered purchases (signed before a change), the old rules typically apply — but verify with your lawyer at every transition.
Frequently Asked Questions
When were the latest cooling measures introduced?
Can cooling measures be reversed?
When did Singapore first introduce cooling measures?
September 2009 — the first post-GFC round, including SSD on properties sold within 1 year. The framework has been built up across 15+ rounds since.
Are cooling measures permanent?
Some have been relaxed (e.g., the SSD holding period was reduced from 4 to 3 years in 2017, then re-extended to 4 in 2025); ABSD has only ever risen since introduction. Treat them as semi-permanent.
Do cooling measures apply to commercial property?
Generally no — ABSD and SSD apply to residential only. Commercial has its own GST and stamp duty regime but no ABSD framework.
Why is the foreigner ABSD so high?
Policy choice — Singapore prioritises domestic ownership and uses ABSD on foreigners as the strongest market-cooling lever. Has been steady at 60% since April 2023.
What's the difference between TDSR and MSR?
TDSR (55%) caps total debt obligations across all loans (mortgages, car, personal). MSR (30%) caps just the HDB/EC mortgage servicing component. Both apply to HDB/EC buyers; TDSR alone applies to private buyers.
This glossary article is auto-generated from ShiokNest's financial data and updated periodically. Rates and figures are current as of May 2026. Check official sources for the latest.