Buying a new launch condo in Singapore: your questions answered

For a first housing loan from a bank, you can borrow up to 75% of the price. The other 25% is your downpayment: at least 5% must be cash, and the remaining 20% can be cash or CPF. For new launches you pay 5% when you book the unit, and the balance of the 20% within about 8 weeks. The loan limit drops to 45% or 35% if you already have an outstanding housing loan.

MAS – Property loan rules ↗Try the calculators →

Banks apply the Total Debt Servicing Ratio (TDSR): all your monthly loan repayments, including car and other loans, cannot exceed 55% of your monthly income. Banks also test affordability at a medium-term interest rate that is higher than today's rate. As a rough guide, a $1.5M condo with a 75% loan over 30 years usually needs a household income somewhere around $10,000–$12,000 a month with no other debts. Use the TDSR calculator for your own numbers and get a bank's in-principle approval before booking.

MAS – Property loan rules ↗Try the calculators →

Yes. Singapore Citizens and PRs can use their CPF Ordinary Account for the downpayment (beyond the 5% cash portion), stamp duties and monthly loan repayments, subject to CPF's Valuation Limit and Withdrawal Limit rules, which depend on the remaining lease. When you sell, the CPF used plus accrued interest is refunded to your CPF account first.

CPF – Using CPF for private property ↗

For uncompleted projects, you pay in stages as construction progresses: 5% at booking, 15% within 8 weeks (20% total downpayment), then 10% at foundation, 10% reinforced concrete framework, 5% walls, 5% ceiling, 5% doors/windows/electrical, 5% car park and roads, 25% at TOP and the final 15% at Certificate of Statutory Completion. Your loan is drawn down in step, so early repayments are small and rise as the building is completed.

BSD is tiered on the price: 1% on the first $180,000, 2% on the next $180,000, 3% on the next $640,000, 4% on the next $500,000, 5% on the next $1.5M and 6% above $3M. For a $1.5M condo that is about $44,600. It must be paid within 14 days of signing (for new launches, the Sale & Purchase Agreement). Everyone pays BSD; ABSD is on top.

IRAS – Buyer's Stamp Duty ↗

It depends on who you are and how many homes you already own. Singapore Citizens: 0% on the first home, 20% on the second, 30% from the third. PRs: 5% first, 30% second, 35% from the third. Foreigners: 60% on any home. Companies/entities: 65%. Married couples with at least one Singaporean upgrading may get a refund if they sell the first home within 6 months of completion of the new one (for a new launch, 6 months after TOP). Always check the current rates on IRAS before committing.

IRAS – ABSD ↗

Besides the downpayment and stamp duties: legal fees (typically around $2,500–$3,500 for a purchase), bank valuation (often waived for new launches), fire insurance, and later maintenance fees and property tax once the project reaches TOP. There is no agent commission for buyers of developer new launches — the developer pays it.

Yes. Foreigners and PRs can buy private condominium and apartment units without approval. Landed homes generally need approval under the Residential Property Act (except in Sentosa Cove). The main difference is ABSD: 5% for a PR's first home and 60% for foreigners (some nationalities under free trade agreements are treated like Singaporeans for ABSD).

SLA – Residential Property Act ↗IRAS – ABSD ↗

Yes, once your flat has passed its 5-year Minimum Occupation Period (MOP). If you keep the HDB flat, the condo counts as your second property, so Singaporeans pay 20% ABSD. Many owners sell the flat first or time the sale so the condo is their only home. PRs must sell their HDB flat within 6 months of buying a private property.

IRAS – ABSD ↗

Yes. For ABSD, the highest applicable rate among all buyers applies to the whole price — so if one buyer already owns a home, the whole purchase may attract second-property ABSD. Loan eligibility is based on combined income, but banks may use the older buyer's age to cap the loan tenure.

IRAS – ABSD ↗

You pay a 5% booking fee and receive an Option to Purchase. The developer's lawyers send the Sale & Purchase Agreement within about 2 weeks, and you have about 3 weeks from receiving it to sign and return it. Stamp duty is due within 14 days of signing, and the rest of the 20% downpayment is due within 8 weeks of the option date. Get a bank in-principle approval before booking, because if you do not exercise the option, part of the booking fee is forfeited.

TOP (Temporary Occupation Permit) is when you can collect keys and move in; you pay 25% of the price at this stage and maintenance fees start. CSC (Certificate of Statutory Completion) usually follows months later and triggers the final 15% payment. For ABSD refunds and many timelines, the key date is TOP.

During preview and launch weekends, showflats are often by appointment only, and appointments decide your balloting or booking order. Booking through an agent costs you nothing — the developer pays the commission — and you get price lists, unit availability and help comparing stacks before you go.

Freehold usually costs more per square foot and tends to hold value longer, which matters if you plan to pass it down. 99-year leasehold projects are often in better-connected new areas at a lower entry price, and most buyers resell long before the lease is a concern. Compare the price gap against nearby resale prices — our project price-analysis pages show nearby resale performance for each launch.

They are URA's market segments. CCR (Core Central Region) covers prime districts 9, 10, 11, the Downtown Core and Sentosa — highest prices. RCR (Rest of Central Region) is the city fringe. OCR (Outside Central Region) is the suburbs, with the lowest price per square foot and most family-sized launches.

URA – Master Plan regions ↗

Often, yes. Remaining units may have less popular facings or floors, but developers sometimes release new stacks or run promotions later. Watch price changes and sales progress — our updates page tracks price drops, promotions and bounce-out units for each project.

For residential property bought on or after 4 July 2025, SSD applies if you sell within 4 years: 16% in year 1, 12% in year 2, 8% in year 3 and 4% in year 4. The holding period counts from the date you bought (for new launches, the option date), not from TOP — so an uncompleted unit can often be sold SSD-free around the time it completes.

IRAS – Seller's Stamp Duty ↗

Yes, after TOP. Private condos can be rented out with a minimum lease of 3 consecutive months. Rental income is taxable, and the property tax rate is higher for homes that are not owner-occupied.