Singapore Private Residential Property Overview
Singapore Private Residential Property Price Index
Housing Index in Singapore increased to 201.50 points in the fourth quarter of 2023 from 196 points in the third quarter of 2023. Housing Index in Singapore averaged 87.35 points from 1975 until 2023, reaching an all time high of 201.50 points in the fourth quarter of 2023 and a record low of 8.90 points in the first quarter of 1975.
Source: TRADINGECONOMICS.COM
source: tradingeconomics.com
GDP in US$
Private Residential Property Price Index by Type
Non-Landed Private Residential Property Price Index by Locality
Private Residential Property Rental Index
Singapore Private Residential Property Ave Price per Sq Ft (S$)
Market Dashboard - 4Q2023
Supply in the Pipeline
Upcoming 2024 Launches (as of Mar 2024)
Government Land Sales 1H2024
Cooling Measures - to maintain a stable & sustainable property market
Effective 27 April 2023
- Aimed at curbing investment demand, Additional Buyer’s Stamp Duty (ABSD) rates for residential properties will be revised as follows:
Effective 15 Feb 2023
- Buyer’s stamp duties (BSD) for higher-value residential and non-residential properties will be raised as follows:
Effective 30 Sep 2022
- Medium-term interest rate floor used by private financial institutions to compute a borrower’s TDSR and MSR will increase by 0.5% from 3.5% to 4%.
- For housing loans granted by HDB, HDB will introduce an interest rate floor of 3% for computing the eligible loan amount.
- Lower the Loan-to-Value (LTV) limit for HDB housing loans from 85% to 80%.
- a wait-out period of 15 months for private residential property owners (PPOs) and ex-PPOs[1] to buy a non-subsidised HDB resale flat. The wait-out period will not apply to seniors aged 55 and above who are moving from their private property to a 4-room or smaller resale flat. . It is a temporary measure which will be reviewed in future depending on overall market conditions and housing demand.
Effective 9 May 2022
- AN ADDITIONAL Buyer’s Stamp Duty (ABSD) of 35 per cent will be imposed on any transfer of residential property into a living trust, irrespective of whether there are identifiable beneficial owners of the residential properties transferred into such trusts.
- The ABSD (Trust) is to be paid upfront when the transfer is made. A trustee may apply for a refund of ABSD (Trust) if certain conditions are met, namely that all beneficial owners are identifiable, that the beneficial ownership has been vested in all of them and cannot be revoked, varied or subject to subsequent conditions. The application for the refund must be made to the Inland Revenue Authority of Singapore within 6 months after the instrument is executed.
Effective 16 Dec 2021
- ABSD rate for Citizens will go up from 12% to 17% for those buying their second residential property, and from 15% to 25% for those buying their third and subsequent properties.
- ABSD rate for Permanent Residents will go up from 15% to 25% for those buying their second residential property, and from 15% to 30% for those buying their third and subsequent properties.
- Foreigners buying any residential property will pay an ABSD rate of 30%, up from 20%.
- The ABSD rate for entities, including housing developers, will go up from 25 per cent to 35 per cent. Housing developers can have this amount remitted if they fulfil certain conditions. But they will still be subject to a 5 per cent non-remittable ABSD.
- The total debt servicing ratio (TDSR) for borrowers will also be tightened from 60 per cent to 55 per cent.
- HDB loans will also be lowered from 90 per cent to 85 per cent of a property’s purchase price.
Past Cooling Measures
