https://www.researchgate.net/publica...dential_Policy



22. Singapore takes a “whole-of-government” approach in employing a set of policy tools including credit-based, fiscal-based, and administrative measures. The conduct of macroprudential policy requires coordination not only within MAS but also with other government agencies. As a result, MAS and relevant government authorities have formed an inter-agency taskforce on the property market comprising representatives from MAS, the Ministry of Finance, the Ministry of National Development, and statutory boards under these ministries.

MAS administers credit-based macroprudential tools such as the Total Debt Servicing Ratio framework, loan-to-value ratios, and loan tenure limits;

Ministry of Finance is responsible for fiscal measures comprising the Additional Buyer’s Stamp Duty and Seller’s Stamp Duty;

Ministry of National Development/Urban Redevelopment Authority ensures that sufficient land is reserved (e.g., through the Concept Plan and Master Plan processes) and subsequently released in a timely manner (through the bi-annual Government Land Sales program and the public housing building program) to meet the
population’s housing needs.