SINGAPORE — Had the various property curbs since the recovery from the global financial crisis not been implemented, private housing transactions, prices and mortgage loans could have been higher by as much as a third from what they are now, an analysis by the Monetary Authority of Singapore has found.
The central bank also found that tax measures, such as the Seller’s Stamp Duty (SSD) and the Additional Buyer’s Stamp Duty (ABSD), had a larger impact on transactions and prices compared to lending and land supply measures. Examples of lending measures include loan-to-value (LTV) limits and the Total Debt Servicing Ratio (TDSR) framework.