Singapore has run 16 distinct rounds of property cooling measures since 1996, with the most recent on 8 May 2026 (EC measures: 10-year MOP, no DPS, 90% first-timer quota). The framework operates on four tools: ABSD (since 2011), LTV caps, TDSR (since 2013), and SSD (since 2010). Current schedule as of 2026 includes the highest ABSD rates in Singapore history.
16 cooling measure rounds 1996-2026
| Date | Key measure |
|---|---|
| 1996 | Tax on residential property gains; foreigner ownership restrictions |
| Sep 2009 | SSD introduced for 1-year holding |
| Aug 2010 | SSD extended to 3 years |
| Jan 2011 | SSD raised to 16% in Y1 with 4-year holding |
| Dec 2011 | ABSD introduced — 3% SC second, 10% foreigner |
| Jan 2013 | ABSD foreigner raised to 15%; LTV reductions |
| Jun 2013 | TDSR introduced at 60% |
| Dec 2021 | ABSD raised again; LTV for HDB lowered to 80%; TDSR reduced to 55% |
| Sep 2022 | Tighter borrowing for resale HDB; 15-month wait for foreigners |
| Apr 2023 | ABSD doubled for foreigners to 60%; PR second 30%; trust 65% |
| May 2023 | Plus and Prime flat tiers introduced for HDB classification |
| Aug 2024 | Plus flat 10-yr MOP rolled out; Standard/Plus/Prime tiers operational |
| Jul 2025 | SSD holding period extended from 3 to 4 years; rates 16/12/8/4% |
| May 2026 | EC 10-yr MOP; DPS eliminated; 90% first-timer quota for 24-mo window |
Source: MAS Singapore, IRAS.
Four cooling measure tools
- ABSD: Tax discouraging multiple residential properties; foreign demand
- SSD: Tax discouraging short-term flipping
- LTV caps: Limits loan-to-value; restricts speculative leverage
- TDSR: Caps total debt as % of income; prudential debt limit
Current state (2026)
No cooling measure relaxation announced. Government signals more action only if private residential prices grow > 10% YoY. 2024-2026 growth has been 4-5% — well within the comfort zone.
Related guides
- ABSD complete framework
- Stamp duty (BSD/ABSD/SSD)
- July 2025 SSD changes
- 11 ECs privatising 2026
- Private property completion surge
FAQ
Will cooling measures be relaxed?
No signal. Government has consistently emphasised long-term affordability over short-term growth.
What triggers a new round?
Typically: sustained year-on-year price growth above 10%; rising foreign buyer share; speculative flipping returns.
Are EC cooling measures applied to existing ECs?
No. The May 2026 EC rules apply only to new GLS tenders closing on or after 8 May 2026.