Timeline for Purchasing a New Launch or Uncompleted Project in Singapore

Buying a new launch condominium can initially feel overwhelming, especially for those unfamiliar with the process. With multiple stages involving legal procedures, payment milestones, and financing arrangements, it is common to feel uncertain about what to expect.

In reality, the process of purchasing an under-construction (off-plan) property is well-organized and follows a structured timeline. By understanding each step in advance, buyers can plan their budgets more effectively, arrange financing with confidence, and ensure that all requirements are met on time.

The table below offers a clear overview of the entire home-buying journey, from unit reservation to final handover. It outlines each payment stage, the expected timeline, and the actions required at every phase.

Timeline For Purchasing A New Launch Property
Stage	Timeframe	Description	Payment
Stage 1	Day 1	Issue Option to Purchase (OTP) (Meanwhile selection of Bank Mortgage loan & Appointment of Law Firm)	5% Booking Fee
Stage 2	Within 2 weeks	Sales & Purchase Agreement (S&P) to be sent to Law Firm, or sent to Buyer if no Law Firm is appointed	-
Stage 3	Within 3 weeks from delivery of S&P	Buyer to exercise the OTP and sign the S&P at Law Firm	-
Stage 4	Within 2 weeks of Signing S&P	Buyer to pay all Stamp Duties	Buyer Stamp Duty (BSD) & Additional Buyer Stamp Duty (ABSD)
Stage 5	Within 8 weeks from Day 1	Buyer to pay remaining downpayment (Cash / CPF / Both)	15% Downpayment
Stage 6	Thereafter	Progressive Payments	80% Progressive Payment Breakdown

The Sales and Purchase Agreement (S&P) must be exercised within three weeks of receiving the relevant documents. If the option to exercise the S&P expires, the developer will retain 25% of the booking fee, equivalent to 1.25% of the purchase price.

While each stage of the process may be completed earlier than scheduled, the entire procedure must be finalized within eight weeks from the Date of Option. In the event of any delay, a written request must be submitted to the developer for approval.

Progressive Payment for Purchasing a New Launch or Uncompleted Project in Singapore

When purchasing an uncompleted property or a building that is still under construction, payments are made progressively based on the stage of development.

After completing the initial steps such as booking the unit, signing the Sales and Purchase Agreement (S&P), and paying the applicable Stamp Duty, the progressive payment schedule will begin. Each payment installment is triggered by the completion of specific construction milestones, as stated in the S&P Agreement.

The estimated timeframe might vary between different projects
Stage	Estimated Timeframe	Description	Payment
Stage 1	Est. 6 – 12 months	Completion of foundation work	10%
Stage 2	Est. 6 – 9 months	Completion of reinforced concrete framework of the unit	10%
Stage 3	Est. 3 – 6 months	Completion of brick walls of the unit	5%
Stage 4	Est. 3 – 6 months	Completion of roofing / ceilings of the unit	5%
Stage 5	Est. 3 – 6 months	Completion of electrical wiring, internal plastering, plumbing & installation of door & window frames of the unit	5%
Stage 6	Est. 3 – 6 months	Completion of carparks, roads, & drains serving the development	5%
Stage 7	Est. 3 – 6 months	Notice of vacant possession (Temporary Occupation of Permit - TOP)	25%
Stage 8	Est. 1 – 12 months	On certification of statutory completion (CSC)	15%

Stamp Duty

Stamp duty is a mandatory tax imposed on all property purchases in Singapore. There are two main types of stamp duty that may apply to homebuyers: Buyer’s Stamp Duty (BSD) and Additional Buyer’s Stamp Duty (ABSD).

BSD applies to all property purchases and is calculated based on the property’s purchase price or market value, whichever is higher. ABSD may apply depending on the buyer’s residency status and the number of properties owned.

Buyer's Stamp Duty (BSD)

Buyer's Stamp Duty (BSD)
Purchase price or market value, whichever is higher	Stamp Duty
First $180,000	1%
Next $180,000	2%
Next $640,000	3%
Next $500,000	4%
Next $1,500,000	5%
In excess of $3,000,000	6%

The Buyer Stamp Duty is applicable to all buyers purchasing a residential property in Singapore, including new launch condominiums, HDBs and uncompleted projects.

For a residential property of price or market value of $1 million or below, the buyer stamp duty can be calculated using the formula below:

BSD = (3% x Property Price) - $5,400

For a residential property of price or market value above $1 million and below $1.5 million, the buyer stamp duty can be calculated using the formula below:

BSD = (4% x Property Price) - $15,400

For a residential property of price or market value above $1.5 million and below $3 million, the buyer stamp duty can be calculated using the formula below:

BSD = (5% x Property Price) - $30,400

For a residential property of price or market value above $3 million, the buyer stamp duty can be calculated using the formula below:

BSD = (6% x Property Price) - $60,400

Additional Buyer's Stamp Duty (ABSD)

Additional Buyer's Stamp Duty (ABSD)
Profile Of Buyer	ABSD Rates
Profile Of Buyer	1st Property	2nd Property	3rd Property & Subsequent Purchase
Singapore Citizens	-	20%	30%
Singapore Permanent Residents	5%	30%	35%
Foreigners	60%	60%	60%
Corporate Entities / Trustee	65%	65%	65%

Under the respective FTAs, Nationals or Permanent Residents of the following countries will be accorded the same Stamp Duty treatment as Singapore Citizens:

Nationals and Permanent Residents of Iceland, Liechtenstein, Norway or Switzerland
Nationals of the United States of America

How Much BSD & ABSD Do I Need To Pay?

Seller's Stamp Duty (SSD)

Seller’s Stamp Duty (SSD) is a tax imposed on property owners who sell their residential property within a minimum holding period after purchase. It was introduced in 2011 by the Singapore government to curb short-term speculation in the property market.

Initially, for properties purchased on or after 14 January 2011, SSD was payable if the property was sold within four years of acquisition.

Subsequently, the rules were revised: for properties acquired on or after 11 March 2017, the minimum holding period to avoid SSD was reduced to three years. This meant that owners could sell their property after three years without incurring SSD.

However, as part of the latest property cooling measures, the minimum holding period was adjusted back to four years for properties purchased on or after 4 July 2025.

Property owners are advised to take note of the applicable SSD rates and holding periods before planning any sale, as the charges can be significant if sold within the required period.

Seller's Stamp Duty (SSD) - Purchased on or after 04-Jul-2025

Seller's Stamp Duty (SSD) - Purchased on or after 04-Jul-2025
Holding Period	Seller's Stamp Duty
Up to 1 Year	16%
Up to 2 Years	12%
Up to 3 Years	8%
Up to 4 Years	4%
More than 4 Years	0%

Seller's Stamp Duty (SSD) - Purchased between 11-Mar-2017 to 03-Jul-2025

Seller's Stamp Duty (SSD) - Purchased between 11-Mar-2017 to 03-Jul-2025
Holding Period	Seller's Stamp Duty
Up to 1 Year	12%
Up to 2 Years	8%
Up to 3 Years	4%
More than 3 Years	0%

Visit IRAS website for more information.

Eligibility for Purchasing an Executive Condominium in Singapore

Core family nucleus

A household’s eligibility for housing subsidies is assessed based on the core family nucleus, which is formed by the core member(s). Core members refer to the applicant(s) and occupier(s) who enable the household to qualify for the EC unit purchase under an eligibility scheme. All core members must remain in the EC application, and physically reside in the EC unit during the minimum occupation period (MOP) after the EC unit purchase. Their names cannot be removed.

Family nucleus

Your household must comprise 1 of the following groups:

You and your fiancé or fiancée
You and your spouse, and child(ren)
You, your parents and siblings. If you are an unmarried/ widowed/ divorced Singapore Citizen (SC) buying an EC with parents, at least 1 of your parents must be a SC or Singapore Permanent Resident (SPR).
You and your child(ren) under your legal custody, care and control (for widowed/ divorced persons). If the care and control of your child is shared with your ex-spouse, you must obtain his/ her written agreement before you may list your child in an EC application.
You and your siblings who are orphans and single, i.e. unmarried, divorced or widowed persons may apply for an EC unit with the following criteria:
- All your siblings are listed in the same application, and they are not applying for/ owning/ renting a flat separately.
- At least 1 of your deceased parents was a SC or SPR.
You and up to 3 other singles as applicants

Citizenship

Fiancé and fiancée, married couples and/ or parent(s) with child(ren), orphaned siblings

You must:

Be an SC
Include at least 1 other SC or SPR

Two or more singles

All singles applying jointly for an EC unit must be SCs.

Age

At least 21 years old
At least 35 years old, if two or more singles are applying jointly

Monthly household income ceiling

The total income of all persons listed in the EC application must not exceed $16,000.

You will be guided by the property developer on the submission of documents, such as income documents, when you book an EC unit.

Ownership/ Interest in property in Singapore or overseas other than HDB flat

Interest or ownership in a property

You are considered to own or have an interest in a property if you have acquired a property through purchase or when it is:

Acquired by gift;
Inherited as a beneficiary under a will or from the Intestate Succession Act;
Owned, acquired, or disposed of through nominees; or
Acquired by holding on trust for another person/ entity.

The conditions on ownership/ interest in private residential and non-residential property apply to all local and overseas properties that are completed or uncompleted, and include but are not limited to the following:

Private residential property	Non-residential property
A house, building, land that is under a residential land zoning (including land with multiple land zoning), Executive Condominium (EC) unit, privatised HUDC flat and mixed use development.	A property under a non-residential land zoning and/ or the permitted use does not include housing. This may include commercial properties (e.g. shops or offices), industrial properties, market/ hawker stalls, or vacant/ plantation/ agricultural land.

Private residential property

You are considered to own or have an interest in a property if you have acquired a property through purchase or when it is:

Must not own or have an interest in any local or overseas private residential property; and
Must not have disposed of any private residential property in the last 30 months, from the legal completion date, before EC application.

Non-residential property

For EC land sales launched on or after 9 May 2023 (including those where the tenders have not closed), all persons listed in the EC application can, as a household, own or have an interest in not more than 1 non-residential property at EC application and up to 30 months before EC application.

If the applicants and occupiers own or have an interest in more than 1 non-residential property, they must have disposed of the other non-residential properties at least 30 months (counted from the legal completion date of the disposal of the interest) before EC application.

Previous housing subsidies

A subsidised housing unit refers to:

A flat bought from HDB
A resale flat bought on the open market with CPF housing grant(s)
A Design Build and Sell Scheme (DBSS) flat bought from a property developer
An EC unit bought from a property developer
Other forms of housing subsidy (e.g. enjoyed benefits under the Selective En bloc Redevelopment Scheme (SERS), privatisation of HUDC estate, etc)

Payment of premium or resale levy

If you and/ or any core member(s) have taken a housing subsidy, you are considered a second-timer. All second-timer core member(s) will need to pay their respective resale levies, if applicable, when buying an EC unit from the property developer. Find out more on the resale levy payable.

If you and/ or any core member(s) have taken 2 housing subsidies, you are not eligible to apply or be listed as a core occupier in an EC application.

Ownership/ Interest in HDB flat

If you or any person listed in the application owns or has an interest in any HDB flat, you must dispose of the interest in the flat, within 6 months of completing your EC unit purchase. This shall be based on the legal completion date of the disposal.

Undischarged bankrupt

Prior consent must be obtained from the Official Assignee (OA) or the private trustee for the purchase of an EC unit.

You do not need to seek prior consent from the OA or the private trustee if you are listed as an occupier of the EC unit.

Wait-out period before applying to buy an EC unit from a property developer

Cancellation of application after booking a flat from HDB

If you have booked a flat from HDB and subsequently cancel your flat booking, you must wait out a 1-year period from the date of the cancellation before you may apply or be listed as a core occupier to buy an EC unit from a property developer.

Termination of the Sale and Purchase Agreement for an EC unit

If you had previously bought an EC unit from a property developer with a CPF Housing Grant and subsequently terminated the Sale and Purchase Agreement, you must wait out a 5-year period from the date of the termination before you may apply or be listed as a core occupier to buy an EC unit from a property developer.

Owners/ Ex-owners of an EC unit bought from a property developer

If you currently own or have recently disposed of your ownership in an EC unit, you must wait out a 30-month period from the date of disposal of the EC unit before you may apply or be listed as a core occupier in an application to buy another EC unit from a property developer, subject to other eligibility conditions.

Executive Condominium Financing

Plan Your Property Financing Ahead of the Purchase

1. Payment Schemes

Purchasers of a new Executive Condominium (EC) have a choice of Normal Progressive Scheme (NPS) or Deferred Payment Scheme (DPS).

Deferred Payment Scheme (DPS) allows the purchaser to defer the 75% loan repayment till the project is ready for move in, i.e. received the Notice of Vacant Possession. No loan repayment is required before Temporary Occupation Permit (TOP) is served. However, do note that the purchase price on DPS is about 3% higher than the NPS price.

The payment schedule and the % of purchase price payable is illustrated in the table below:

Executive Condominium Payment Schemes
Payment Schedule	Payment (% of purchase price)
Payment Schedule	Normal Progressive Scheme (NPS)	Deferred Payment Scheme (DPS)
Upon the grant of Option to Purchase	5% (booking fee)	5% (booking fee)
Upon signing of the Sale & Purchase Agreement or within 8 weeks from the Option date	15%	15%
Completion of foundation work	10%	-
Completion of reinforced concrete framework	10%	-
Completion of partition walls of unit	5%	-
Completion of roofing/ceiling of unit	5%	-
Completion of door sub-frames/ door frames, window frames, electrical wiring, internal plastering and plumbing of unit	5%	-
Completion of car park, roads and drains serving the housing project	5%	-
Issue of Temporary Occupation Permit	25%	65%
Certificate of Statutory Completion (CSC)	15%	15%

2. CPF Housing Grant

The CPF Housing Grant is a housing subsidy provided by the government, to assist eligible First-Timer families to buy an Executive Condominium.

The CPF Housing Grant will be credited into the eligible purchaser's CPF Ordinary Account and can be used to pay for the balance downpayment at the time of signing of the Sales and Purchase (S&P) Agreement.

CPF Housing Grant
Average gross monthly household income of all persons in application, i.e. applicants and occupiers	Family Grant		Half-Housing Grant If you are a first-timer (FT) SC and your co-applicant is a second-timer (ST) who has previously taken 1 housing subsidy, i.e. FT/ ST couple
	Singapore Citizen (SC / SC) Household	SC / Singapore Permanent Resident (SC / SPR) Household
$10,000 or lower	$30,000	$20,000	$15,000
$10,001 to $11,000	$20,000	$10,000	$10,000
$11,001 to $12,000	$10,000	Nil	$5,000
$12,001 to $14,000	Nil	Nil	Nil

If you are from an SC/SPR household, you can enjoy the full housing subsidy by applying for the Citizen Top-Up within 6 months from the date your SPR family member takes up Singapore Citizenship or the birth of your SC child. Please note that the CPF Housing Grant is subject to approval by the relevant authorities.

3. Mortgage Loan Restrictions: Loan-to-Value Limits, Total Debt Servicing Ratio, Mortgage Servicing Ratio

i) On 11 Jan 2013, the Monetary Authority of Singapore (MAS) tightened the Loan-to-Value (LTV) limits for borrowers who already have at least one outstanding housing loan.

Exemption: For EC purchasers who have an outstanding loan on the existing flat which would have to be sold upon TOP of the EC, the housing loan for the EC purchase is regarded as the 1st Home Loan. LTV limits on 1st Home Loan will apply.

ii) On 28 June 2013, the Monetary Authority of Singapore (MAS) introduced a Total Debt Servicing Ratio (TDSR) framework for all property loans granted by financial institutions to individuals. Banks need to ensure that borrowers' total monthly debt repayments do not exceed 60% of their gross monthly income.

Exemption: For EC purchasers who own an existing flat which would have to be sold upon TOP of the EC, the monthly instalment of the existing HDB flat will be excluded in the computation of the total monthly debt repayments.

iii) On 9 Dec 2013, the Ministry of National Development (MND) announced that MAS will cap the Mortgage Servicing Ratio (MSR) for housing loans granted by financial institutions for EC units bought directly from developers at 30% of a borrower’s gross monthly income.

4. Payment of Resale Levy on ECs (announced on 9 Dec 2013)

i) Resale levy is applicable for EC projects where the land sale is launched on or after 9 Dec 2013

ii) Revised Resale Levy Policy

Applies to second-timer applicants who:

Book their second subsidised flat from HDB on or after 03 Mar 2006, and
Submit their resale application to sell their first subsidised flat on or after 03 Mar 2006

Revised Resale Levy Policy
First Subsidised Flat Type	Amount of Resale Levy Payable under the Revised Policy (From 3 Mar 2006*)
2-room	$15,000
3-room	$30,000
4-room	$40,000
5-room	$45,000
Executive Flat	$50,000

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Company Details

Authorized Agency: Huttons Asia Pte Ltd
License Number: L3008899K
Appointed Agent: Shaik Rifaie
Contact: +65 9003 1370
CEA Number: R058387E
Agency Name: Huttons Asia Pte Ltd

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To exercise any of these rights, please contact us using the contact details provided below.

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If you have any questions or concerns about this Privacy Policy or our data practices, please contact us at:

Authorized Agency: Huttons Asia Pte Ltd
License Number: L3008899K
Appointed Agent: Shaik Rifaie
Contact: +65 9003 1370
CEA Number: R058387E
Agency Name: Huttons Asia Pte Ltd

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Disclaimer: While reasonable care has been taken in preparing this website, neither the developer nor its appointed agents guarantee the accuracy of the information provided. To the fullest extent permitted by law, the information, statements, and representations on this website should not be considered factual representations, offers, or warranties (explicit or implied) by the developer or its agents. They are not intended to form any part of a contract for the sale of housing units. Please note that visual elements such as images and drawings are artists’ impressions and not factual depictions. The brand, color, and model of all materials, fittings, equipment, finishes, installations, and appliances are subject to the developer’s architect’s selection, market availability, and the developer’s sole discretion. All information on this website is accurate at the time of publication but may change as required by relevant authorities or the developer. The floor areas mentioned are approximate and subject to final survey.

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Timeline for Purchasing a New Launch or Uncompleted Project in Singapore

Progressive Payment for Purchasing a New Launch or Uncompleted Project in Singapore

Progressive Payment Calculator

Stamp Duty

Buyer's Stamp Duty (BSD)

Additional Buyer's Stamp Duty (ABSD)

How Much BSD & ABSD Do I Need To Pay?

Seller's Stamp Duty (SSD)

Seller's Stamp Duty (SSD) - Purchased on or after 04-Jul-2025

Seller's Stamp Duty (SSD) - Purchased between 11-Mar-2017 to 03-Jul-2025

Eligibility for Purchasing an Executive Condominium in Singapore

Core family nucleus

Interest or ownership in a property

Private residential property

Non-residential property

Cancellation of application after booking a flat from HDB

Termination of the Sale and Purchase Agreement for an EC unit

Owners/ Ex-owners of an EC unit bought from a property developer

Executive Condominium Financing

Plan Your Property Financing Ahead of the Purchase

1. Payment Schemes

2. CPF Housing Grant

3. Mortgage Loan Restrictions: Loan-to-Value Limits, Total Debt Servicing Ratio, Mortgage Servicing Ratio

i) On 11 Jan 2013, the Monetary Authority of Singapore (MAS) tightened the Loan-to-Value (LTV) limits for borrowers who already have at least one outstanding housing loan.

iii) On 9 Dec 2013, the Ministry of National Development (MND) announced that MAS will cap the Mortgage Servicing Ratio (MSR) for housing loans granted by financial institutions for EC units bought directly from developers at 30% of a borrower’s gross monthly income.

4. Payment of Resale Levy on ECs (announced on 9 Dec 2013)

i) Resale levy is applicable for EC projects where the land sale is launched on or after 9 Dec 2013

ii) Revised Resale Levy Policy

Disclaimer

Privacy Policy

Company Details

Information We Collect

How We Use Your Information

Security of Your Information

Your Data Protection Rights

Contact Us

Changes to This Privacy Policy

Consent

Popular Projects This Week