How Much Cash Payment Is Required For Purchase of Private Property in Singapore
Explore the new launch progressive payment scheme and minimum cash outlay.
Cash Payment for Purchase of Private Property in Singapore:
- Option Fee
- You will have to pay an option fee of 5% of the purchase price in cheque when you book a new launch property (Private Condo, Executive Condo, Landed Property) in Singapore.
- Downpayment
- You will have to pay 20% of the purchase price as the downpayment for the private property purchase.
- 15% within eight weeks if you are buying a private condo or landed property; within nine weeks if you are purchasing an executive condo.
- 5% upon completion of the foundation.
- You may use your CPF Ordinary Account savings to pay for the 20%, provided you manage to get the 75% housing loan from the bank. If not enough topped up by cash.
- You will have to pay 20% of the purchase price as the downpayment for the private property purchase.
- Legal Fees and Stamp Duties
- You may use cash or CPF savings to pay for the legal fees and stamp duties.
- It may take some time for the withdrawal of CPF Savings for the payment. Please inform your appointed lawyer in advance to avoid any delay.
| Stage | % | Description | Payment Mode |
| 1st | 5% | Booking & Obtaining Option To Purchase | Cash |
| Buyer to engage a solicitor (~ $3000) Buyer to select the Mortgage Loan (Stamp fee ~$500) |
Cash or CPF OA | ||
| Buyer's Stamp Duty | Cash or CPF OA | ||
| Additional Buyer's Stamp Duty | Cash or CPF OA | ||
| 15% | Downpayment | Cash or CPF OA | |
| 2nd | 5% | Completion of Foundation Work | Cash or CPF OA |
| 5% | Bank Loan | ||
| 3rd | 10% | Completion of Reinforced Concrete | Bank Loan |
| 4th | 5% | Completion of Brick Wall | Bank Loan |
| 5th | 5% | Completion of Ceiling / Roofing | Bank Loan |
| 6th | 5% | Completion of Doors & Windows Frames are in position, the Electrical Wiring & Plumbing & Internal Plastering | Bank Loan |
| 7th | 5% | Completion of Car Park, Roads and Drains | Bank Loan |
| 8th | 25% | Obtaining Temporary Occupation Permit (TOP) | Bank Loan |
| 9th | 15% | Upon Production of the Certificate of Statutory Completion (CSC) | Bank Loan |
| Housing Loan | 1st Loan | 2nd Loan | 3rd Loan | |||||||
| Loan Tenure | Up To 30 Years | 31-35 Years | Up To 30 Years | 31-35 Years | Up To 30 Years | 31-35 Years | ||||
| Sum of Tenure & Age of Borrower | Up To 65 | Above 65 | Up To 65 | Above 65 | Up To 65 | Above 65 | ||||
| Loan To Value Limit (Individual) |
75% | 55% | 55% | 45% | 25% | 25% | 35% | 15% | 15% | |
| Minimum Cash Outlay | 5% | 10% | 10% | 25% | 25% | 25% | 25% | 25% | 25% | |
