MEASURES TO ENSURE A STABLE AND SUSTAINABLE PROPERTY MARKET

From: http://www.mnd.gov.sg/newsroom/newsreleases/2010/news19022010.htm

In a nutshell, the govt plans to curb speculation through imposing the following,

1. Seller’s Stamp Duty (SSD) on Residential Properties Sold within 1 Year
2. Lowering Loan-To-Value (LTV) Limit to 80% for Housing Loans

A few question marks come to my mind immediately.

I can understand that the govt is keen to nip the impending bubble in the bud, but why nothing for HDB? Prices for HDB has been going upwards steadily largely due to the fact that PRs are allowed to 'speculate' in them in a way that seems to me to be more detrimental to property prices as compared to that of the private housing market.

Secondly, the 2 new rules in itself doesn't seem to me that its going to have much of an impact in curbing speculation because

1. A quick search through the sub-sale caveats lodged since Oct09 showed that only about 10% of them are 'flipped' within one year of purchase. So this new ruling will at best only affect up to 10% of all sales?
2. Most financial institutes are already being prudent (due largely to the crisis) and not offering any 90% loan at all. Redundant?

Impact is going to be minimal at best, probably 'scaring' investors off for a few months, like the last time they took away the interest absorption scheme.

I seriously dunno why they even bother.