Answer
Property Cooling Measures Singapore (2025)
Every cooling measure that affects your property purchase or sale, all in one place.
Answer: Singapore's property cooling measures as of 2025 include ABSD (0–65% based on buyer profile), SSD (12%/8%/4%/4% if sold within 4 years), TDSR (55% debt-to-income cap, stress-tested at 4%), LTV (75% max for first property), and a 15-month wait-out for private property owners buying resale HDB. These are the strictest measures in Singapore's history.
ABSD Rates (Effective 27 Apr 2023)
| Buyer Profile | 1st Property | 2nd Property | 3rd+ Property |
|---|---|---|---|
| Singapore Citizen | 0% | 20% | 30% |
| Permanent Resident | 5% | 30% | 35% |
| Foreigner | 60% (all properties) | ||
| Entity / Trust | 65% (all properties) | ||
ABSD is on top of BSD. Example: SC buying a $2M second property pays $69,600 BSD + $400,000 ABSD = $469,600 total stamp duty.
ABSD in Dollar Terms
How much ABSD costs on a $1,500,000 condo:
| Profile | ABSD Rate | ABSD Amount | + BSD | Total Stamp Duty |
|---|---|---|---|---|
| SC, 1st | 0% | $0 | $44,600 | $44,600 |
| SC, 2nd | 20% | $300,000 | $44,600 | $344,600 |
| PR, 1st | 5% | $75,000 | $44,600 | $119,600 |
| Foreigner | 60% | $900,000 | $44,600 | $944,600 |
Seller’s Stamp Duty (SSD) — 4-Year Rule
If you sell a property within 4 years of purchase, SSD applies. Extended from 3 years in the 2025 Budget.
| Holding Period | SSD Rate | On $1,500,000 |
|---|---|---|
| Within 1 year | 12% | $180,000 |
| Year 1–2 | 8% | $120,000 |
| Year 2–3 | 4% | $60,000 |
| Year 3–4 | 4% | $60,000 |
| After 4 years | 0% | $0 |
TDSR — 55% Debt Servicing Cap
Your total monthly debt obligations cannot exceed 55% of gross monthly income. Banks stress-test at 4% interest rate.
| Parameter | Current Rule |
|---|---|
| TDSR cap | 55% of gross monthly income |
| Stress test rate | 4% p.a. (MAS medium-term rate) |
| Debts included | All loans: car, credit card min, student, existing mortgage |
| Income counted | Basic salary + fixed allowances. Variable income at 70% haircut. |
| Exemption | Owner-occupied property refinancing (same bank, no cash out) |
LTV Limits
| Property Count | Standard LTV | Reduced LTV | Reduced When |
|---|---|---|---|
| 1st property | 75% | 55% | Tenure > 30 yrs or age+tenure > 65 |
| 2nd property | 45% | 25% | Tenure > 30 yrs or age+tenure > 65 |
| 3rd+ property | 35% | 15% | Tenure > 30 yrs or age+tenure > 65 |
HDB loans: max 80% LTV (if eligible). Bank loans for HDB: same LTV framework as above.
Wait-Out Periods
| Situation | Wait Period |
|---|---|
| Private property owner → buy resale HDB | 15 months |
| Private property owner → apply BTO | 30 months |
| Sell subsidised HDB → buy private | No wait (after MOP) |
| Own HDB + buy condo | After MOP + 20% ABSD on condo |
Timeline of Key Cooling Measure Changes
| Date | Change |
|---|---|
| Feb 2025 | SSD extended from 3 to 4 years (16%/12%/8%/4%) |
| Apr 2023 | ABSD raised sharply: foreigners 60%, entities 65%, SC 2nd 20% |
| Sep 2022 | TDSR tightened from 60% to 55%. Stress test rate from 3.5% to 4%. |
| Dec 2021 | ABSD raised: SC 2nd from 12% to 17%, foreigner from 20% to 30% |
| Jul 2018 | ABSD raised: SC 2nd from 7% to 12%. First ABSD hike since 2013. |
| Jun 2013 | TDSR introduced at 60%. SSD shortened to 3 years from 4. |
| Jan 2013 | ABSD introduced for SC 2nd property (7%). |
| Dec 2011 | ABSD first introduced: foreigners 10%, PR 2nd 3%. |
See how cooling measures affect your purchase
Calculate your exact stamp duty (BSD + ABSD) and check if you pass TDSR with our free tools.
FAQ
What are the current ABSD rates in Singapore?
As of April 2023: SC first property 0%, second 20%, third+ 30%. PR first 5%, second 30%, third+ 35%. Foreigners 60%. Entities 65%. These are the highest ABSD rates in Singapore history.
What is the SSD 4-year rule?
Seller's Stamp Duty applies if you sell within 4 years of purchase (extended from 3 years in 2025). Rates: 12% (year 1), 8% (year 2), 4% (year 3), 4% (year 4). After 4 years, no SSD.
What is the TDSR limit?
Total Debt Servicing Ratio is capped at 55% of gross monthly income. All debt obligations (car loan, credit card, student loan, existing mortgages) count. Banks stress-test at 4% interest rate, not the actual rate.
What are the LTV limits for property loans?
First property: 75% LTV (if loan tenure up to 30 years and age+tenure up to 65). Second property: 45% LTV. If tenure exceeds 30 years or age+tenure exceeds 65: first property 55%, second property 25%.
What is the 15-month wait-out period?
Private property owners who sell must wait 15 months before buying a resale HDB flat. For BTO, the wait is 30 months. This prevents private property owners from quickly entering the public housing market.
When were cooling measures last updated?
The most recent major update was 27 April 2023, which sharply raised ABSD rates (foreigners from 30% to 60%, entities from 35% to 65%). SSD was extended to 4 years in the 2025 Budget. TDSR at 55% has been in effect since September 2022.
Related
Last updated Feb 2026. ABSD rates effective 27 Apr 2023. SSD 4-year rule from Budget 2025. TDSR 55% effective Sep 2022 (MAS). This is not financial advice.