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We find 3 ways the home worth distribution can change with time. First, even after discounting the housing price with the CPI, we see the tail of the price distribution is extending in direction of higher value levels. Nevertheless, this tail extension is either along the equilibrium distribution, or falling slightly below the equilibrium distribution. This may be seen as a common upward development within the upper quartile value for all the HDB, condominiums and singapore condo interior design landed properties in Singapore ( Fig 3 ). We do not know whether or not this also occurs for the GTA, since we only have two years price of information. However, since there isn't a systematic positive deviations from the equilibrium distribution, we don't take into account such cases as bubbles.

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The first measure was regarding the holding interval for imposing the Seller's Stamp Obligation (SSD). The holding period has been elevated to from 1 12 months to three years. As said earlier, this measure was modified later on in January 2011, the place the holding period was additional increased to 4 years.