Short answer: In October 2026, Singapore's main cooling measures are Additional Buyer's Stamp Duty (0% to 65% depending on who buys), Seller's Stamp Duty on homes sold within four years, a 55% Total Debt Servicing Ratio tested at a 4% interest rate, a 30% Mortgage Servicing Ratio for HDB flats and new ECs, and a 75% loan-to-value cap on first housing loans.
This guide was first published on 10 March 2026. It was rewritten on 2 October 2026 from official sources. The earlier version showed the Seller's Stamp Duty rates that applied before 4 July 2025, an 80% HDB loan limit that ended in August 2024, and a stamp duty sum that was about S$5,000 too low.
What are the cooling measures in force in 2026?
| Measure | What it does | Current rule |
|---|---|---|
| ABSD | Extra stamp duty on top of BSD for buyers who already own homes, PRs, foreigners and entities | 0% to 65% of price or value |
| SSD | Duty on sellers who resell within the holding period | 16% / 12% / 8% / 4% within 4 years (bought on or after 4 July 2025) |
| TDSR | Caps all monthly debt repayments | 55% of gross monthly income, new loan tested at 4% or the actual rate if higher |
| MSR | Caps property loan repayments for HDB flats and ECs within MOP | 30% of gross monthly income |
| LTV | Caps the loan as a share of price or valuation | 75% / 45% / 35% for bank loans; 75% for HDB loans |
| QC | Requires foreign housing developers to build and sell within set times | Complete within 5 years, sell within 2 years of completion |
Sources: MOF (April 2023), MAS (2025 and explainers), CPF Board, Ministry of Law (2020).
How much ABSD do you pay?
These ABSD rates apply to residential property bought on or after 27 April 2023 (MOF):
| Buyer | 1st property | 2nd property | 3rd and subsequent |
|---|---|---|---|
| Singapore Citizen | 0% | 20% | 30% |
| Singapore Permanent Resident | 5% | 30% | 35% |
| Foreigner | 60% | 60% | 60% |
| Entity (company or trust) | 65% | 65% | 65% |
ABSD is charged on the higher of the price and the market value. When people buy jointly, the highest applicable rate applies to the whole price. Licensed housing developers pay 40% ABSD: 5% that cannot be remitted, plus 35% that is remitted upfront but clawed back with interest if the developer misses its deadlines to build and sell all units (MOF, July 2026). Stamp duty is due within 14 days of signing (IRAS).
Remissions for married couples (IRAS):
- A married couple with at least one Singapore Citizen spouse, where neither spouse owns a home, can apply for full ABSD remission on a joint purchase. This matters for a Citizen married to a PR or a foreigner, who would otherwise pay 5% or 60%.
- A married couple with at least one Citizen spouse who buys a second home jointly pays ABSD upfront, but can get it refunded if they sell the first home within 6 months of buying the second (completed home), or within 6 months of TOP or CSC, whichever is earlier (uncompleted home). IRAS says it will not extend the 6-month deadline.
See our ABSD guide for more cases, and our decoupling explainer for how some couples restructure ownership.
How does Buyer's Stamp Duty work?
Every buyer also pays Buyer's Stamp Duty (BSD). For residential property, the rates since 15 February 2023 are 1% on the first S$180,000, 2% on the next S$180,000, 3% on the next S$640,000, 4% on the next S$500,000, 5% on the next S$1.5 million and 6% on the rest (IRAS).
BSD on a S$1.8 million home is S$59,600 (our working: S$1,800 + S$3,600 + S$19,200 + S$20,000 + S$15,000). Use our stamp duty calculator guide for other prices.
What is the Seller's Stamp Duty now?
On 3 July 2025, the Government extended the SSD holding period from three years to four and raised each rate by four percentage points. The new rates apply to residential property bought on or after 4 July 2025. MAS said HDB owners are not affected because of the minimum occupation period (MAS):
| Sold within | SSD (bought on or after 4 July 2025) | SSD (bought 11 March 2017 to 3 July 2025) |
|---|---|---|
| Up to 1 year | 16% | 12% |
| More than 1 year, up to 2 | 12% | 8% |
| More than 2 years, up to 3 | 8% | 4% |
| More than 3 years, up to 4 | 4% | 0% |
| More than 4 years | 0% | 0% |
SSD is charged on the higher of the sale price and market value. Example (our working): a home bought for S$1.5 million in January 2026 and sold for the same price in October 2026 attracts SSD of 16%, or S$240,000. See our SSD guide.
How does TDSR limit your loan?
The Total Debt Servicing Ratio caps your monthly repayments on all debts, including the new loan, at 55% of gross monthly income. For residential property, banks must test the new loan at the higher of 4% and the actual rate that applies after any initial period. Variable income such as bonuses and commissions, and rental income, take a haircut of at least 30%. For credit cards, banks count the minimum payment due on your latest statement (MAS).
Example (our estimate, illustrative inputs):
| Item | Amount |
|---|---|
| Gross monthly income | S$12,000 |
| TDSR limit (55%) | S$6,600 |
| Existing car loan repayment | S$900 |
| Credit card minimum payment due | S$600 |
| Left for the new mortgage | S$5,100 |
At the 4% test rate over 30 years, S$5,100 a month supports a loan of about S$1.07 million (standard amortisation formula, monthly compounding). The LTV limit may cap the loan lower. More in TDSR vs MSR.
When does MSR apply?
The Mortgage Servicing Ratio caps repayments on all your property loans at 30% of gross monthly income. It applies to loans for an HDB flat, or an executive condominium whose minimum occupation period has not ended. It does not count car or personal loans; TDSR also applies on top (MAS).
Example (our estimate): a household earning S$8,000 a month can spend up to S$2,400 a month under MSR. At the HDB concessionary rate of 2.6% over 25 years, that supports a loan of about S$529,000. In practice the lender's stress test and the LTV limit can lower this.
How much can you borrow under LTV limits?
| Outstanding housing loans | Bank loan LTV | LTV if tenure is long or the loan runs past age 65 | Minimum cash down payment |
|---|---|---|---|
| None | 75% | 55% | 5% (10% at the lower LTV) |
| One | 45% | 25% | 25% |
| Two or more | 35% | 15% | 25% |
"Long" means over 30 years, or over 25 years for an HDB flat. Maximum tenures are 35 years for private property and 30 years for HDB flats (MAS).
HDB loans are capped at 75% LTV. The limit was cut from 80% from 20 August 2024 (CPF Board; HDB and MND release, 19 August 2024). The HDB loan rate is 2.6% from 1 October to 31 December 2026, pegged at 0.1 percentage point above the CPF Ordinary Account rate (CPF Board, 22 September 2026).
Example (our working): on a S$1.5 million condo with a first bank loan at 75%, you fund S$375,000 yourself, of which at least S$75,000 (5%) must be cash. See LTV limits explained and MAS policy on home loans.
What do the QC rules require of developers?
Foreign housing developers buying residential land must hold a Qualifying Certificate. They must complete the development within five years and sell all units within two years of completion. Since 6 February 2020, publicly listed developers with a substantial connection to Singapore can be exempted (Ministry of Law). Developers also face the ABSD remission deadlines above.
How do the measures add up? A worked example
Profile (illustrative): a Singapore Citizen couple earning S$18,000 a month in total, buying a S$1.8 million condo as their second home, with one housing loan still outstanding.
| Item | Our working | Amount |
|---|---|---|
| BSD | Tiered rates on S$1.8M | S$59,600 |
| ABSD (Citizen, 2nd property) | 20% × S$1.8M | S$360,000 |
| Total stamp duty | S$419,600 | |
| Maximum loan (second loan, 45% LTV) | 45% × S$1.8M | S$810,000 |
| Down payment (cash and CPF) | S$1.8M − S$810,000 | S$990,000, of which at least S$450,000 (25%) in cash |
| TDSR ceiling | 55% × S$18,000 | S$9,900 a month for all debts |
| New loan at the 4% test rate, 30 years | S$810,000 | about S$3,867 a month |
Before financing, the couple needs about S$1.41 million (S$419,600 in stamp duty plus S$990,000 down payment). If they sell their first home within the IRAS deadline, they can apply for a refund of the S$360,000 ABSD. The TDSR check also counts the repayments on their existing loan.
Have any measures changed recently?
- 4 July 2025: SSD holding period extended to four years, with higher rates (MAS).
- 28 July 2026: Private property owners and former owners can buy a non-subsidised HDB resale flat without an HDB loan without the 15-month wait-out period introduced in 2022 (HDB release, 27 July 2026; EdgeProp).
- 29 July 2026: Longer ABSD remission timelines for developers of large en bloc sites (MOF).
ABSD, LTV and TDSR rates have not changed in 2026.
Frequently asked questions
Do first-time Singapore Citizen buyers pay ABSD?
No. The rate for a Citizen's first residential property is 0%. Citizens pay 20% on a second home and 30% on a third and subsequent homes (MOF).
How long must I hold a private home to avoid SSD?
More than four years if you bought on or after 4 July 2025. If you bought between 11 March 2017 and 3 July 2025, SSD ends after three years (MAS).
Is the TDSR stress rate still 4%?
Yes, for residential property. Banks must use the higher of 4% and the rate that applies after the initial period (MAS).
What is the LTV limit for an HDB loan?
75%, down from 80% since 20 August 2024. Bank loans for a first housing loan are also capped at 75% (CPF Board).
Can a Singapore Citizen married to a foreigner avoid ABSD on their first home?
If they buy jointly, neither owns a home, and at least one spouse is a Citizen, they can apply to IRAS for full ABSD remission.
Sources
- MOF, Measures for a sustainable property market (26 April 2023)
- IRAS, Remission of ABSD for a married couple and ABSD rates and remission for married couples (PDF)
- IRAS, Buyer's Stamp Duty
- MOF, Revisions to ABSD regime for large-scale en bloc redevelopments (28 July 2026)
- MAS, Extension of the SSD holding period and higher SSD rates (3 July 2025)
- MAS, Calculating TDSR, MSR and TDSR rules, Loan tenure and LTV limits
- CPF Board, 3 differences between an HDB loan and a bank loan and interest rates for October to December 2026 (22 September 2026)
- Ministry of Law, QC regime exemption for listed developers (6 February 2020)
- HDB, Removal of the 15-month wait-out period (27 July 2026); EdgeProp, report
This page explains the rules. It is not financial or legal advice. Check your own case with IRAS, HDB or your bank before you commit.
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