In the past two decades, Singapore’s property market has gone through a series of ups-and-downs; from a slew of new cooling measures, to worries about falling resale flat prices.

If the last time you bought a home was in the early 2000’s or before, you might find the Singapore private property market so alien, it’s practically Mars. So whether you’re upgrading or giving advice to your children, here are the new norms of Singapore property that you need to know:

What’s different from the early 2000’s in Singapore real estate?

  • Higher income requirements for home loans
  • You’re faced with bigger down payments today
  • Loan tenure and age restrictions have been tightened
  • New stamp duty rules
  • Buying a property through a company no longer helps
  • A struggling resale flat market
  • More concern over quantum than price per square foot
  1. Higher income requirements for home loans

One of the biggest changes to Singapore’s property market came

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