The last cooling measure was just implemented on 16 Dec 2021. On 30 Sept 2022, the Singapore Government announced yet another round of measures to cool the private residential and HDB resale markets. Unlike previous broad based measures, these measures are a lot more targeted. We will talk about a few scenarios and show some calculations on how this will directly these 7 groups of people.

1. HDB loans for BTO or resale homebuyers
2. Bank loan for private residential homebuyers
3. Homeowners downgrading from private to HDB
4. Homeowners upgrading from HDB to private
5. Landlords
6. Home sellers
7. August 2022 BTO applicants

What are the cooling measures this time? With effect from 30 September 2022, the changes are as follows:

1. Residential Bank loans: 4% interest rate floor*, being a 0.5% increase from 3.5% previously to 4.0% now.
2. HDB loans: Introduction of interest rate floor of 3%.
3. HDB loans: Lowering loan to value limit from 85% to 80%.

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