On 15 December 2021, the Ministry of Finance, Ministry of National Development and Monetary Authority of Singapore announced in a joint press release the implementation of a package of cooling measures on the purchase of residential properties. The new measures have since taken effect from 16 December 2021.
The three broad measures that have come into effect are: (a) Increase in Additional Buyer’s Stamp Duty rates; (b) Tightened Total Debt Servicing Ratio threshold; and (c) Reduction in Loan-to-Value limits for HDB-granted loans. In this Update, we provide a summary of these key changes.
For more information, click here to read the full Legal Update.
