Yesterday (December 15) right before midnight, the government announced new property cooling measures, with higher ABSD (Additional Buyer’s Stamp Duties), lowered LTV (Loan-to-Value) and tightened TDSR (Total Debt Servicing Ratio). The predictable pattern to impose new curbs We had the last round of cooling measures just three years ago in July 2018. Let’s recall the events again. • 2 July 2018 (Mon): URA 2018 Q2 private residential estimate and PropNex IPO • 3 July 2018 (Tue): Government Land Sales of Hillview Rise site to Hong Leong • 4 July 2018 (Wed): MAS warning of euphoria in the Singapore property market • 5 July 2018 (Thu): DBS warning at luncheon and announcement of cooling measures • 6 July 2018 (Fri): Developer stock prices fell and property agencies turned pessimistic Did the pattern sound familiar? It has a logical flow with different players doing their part. So it is impossible not to ring a bell for the events unfolding this week....