The government announced new property cooling measures on 15 December 2021 and it was implemented on the next day, 16 December 2021. It mainly affects the private residential property markets and HDB.

The authorities imposed a more comprehensive slew of property curbs and ramping up housing supply for both the public and private housing markets. The Additional Buyers’ Stamp Duty (ABSD) rates were increased, and the Total Debt Servicing Ratio (TDSR) was tightened to tamper demand. The Loan-To-Value (LTV) limits for HDB housing loans will be tightened by 5% points from 90% to 85%. The revised LTV limit does not apply to loans granted by financial institutions, for which the LTV limit remains at 75%.