In a joint press release between MAS, MND and HDB, the Singapore government has announced new cooling measures for the property market that have taken into effect as of 30 September 2022. This second round of cooling measures follows the measures previously implemented in December 2021 as the Singapore property market remains red-hot. The main goal of this round of cooling measures is to dampen borrowing by home buyers and control demand from private property owners. Why Is There a Need for Cooling Measures? Property markets around the world have seen record prices on the back of government COVID-19 stimulus initiatives and low interest rates. Singapore has been no exception. Since implementing the last round of cooling measures, the HDB resale Price Index has increased by over 5% as of the end of Q2 2022. Prior to 2012, paying over S$1 million for an HDB...