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Cash Payment for Purchase of Private Property

Private Condo, Executive Condo and Landed Property

How Much Cash Is Required For Buying Private Property

Cash is required for the payment of:

  • Option Fee
    • You will have to pay an option fee of 5% of the purchase price in cash 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 8 weeks if you are buying a private condo or landed property; within 9 weeks if you are buying 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.
  • 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%DescriptionPayment Mode
1st5%Booking & Obtaining Option To PurchaseCash
Buyer to engage a solicitor (~ $3000)
Buyer to select the Mortgage Loan (Stamp fee ~$500)
Cash or CPF OA
Buyer's Stamp DutyCash or CPF OA
Additional Buyer's Stamp DutyCash or CPF OA
15%DownpaymentCash or CPF OA
2nd5%Completion of Foundation WorkCash or CPF OA
5%Bank Loan
3rd10%Completion of Reinforced ConcreteBank Loan
4th5%Completion of Brick WallBank Loan
5th5%Completion of Ceiling / RoofingBank Loan
6th5%Completion of Doors & Windows Frames are in position, the Electrical Wiring & Plumbing & Internal PlasteringBank Loan
7th5%Completion of Car Park, Roads and DrainsBank Loan
8th25%Obtaining Temporary Occupation Permit (TOP)Bank Loan
9th15%Upon Production of the Certificate of Statutory Completion (CSC)Bank Loan
Housing Loan1st Loan2nd Loan3rd Loan
Loan TenureUp To 30 Years31-35 YearsUp To 30 Years31-35 YearsUp To 30 Years31-35 Years
Sum of Tenure & Age of BorrowerUp To 65Above 65Up To 65Above 65Up To 65Above 65
Loan To Value Limit
(Individual)
75%55%55%45%25%25%35%15%15%
Minimum Cash Outlay5%10%10%25%25%25%25%25%25%
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