Singapore Real Estates Portal

Main menu:

Singapore New Condo Payment Schemes

Important Info.

Payment Schemes

Singapore has 2 types of payment schemes available for the purchase of new condominiums under construction, they are the Standard / Progressive payment scheme and Deferred payment scheme.

But as of 26 Oct 2007, the Singapore Government had withdrew the deferred payment scheme, new applications from developers to offer deferred payment scheme for new housing projects after this date will not be approved.

Progressive Payment

Under the standard Sale & Purchase Agreement, purchasers are required to make installment payments of the purchase price, typically referred to as progress payments, as and when the developer completes the different stages of construction of the housing project. All installment payments up to the issue of Temporary Occupation Permit are to be paid into the Project Account which the developer is required to maintain with a bank or financial institution.

Table of illustrations for the Standard / Progressive Payment Scheme:


Standard / Progressive Payment Scheme
Stages of Payment	Percentage of Purchase Price
Upon the grant of Option to Purchase (booking fee)	5%
Upon signing of the Sale & Purchase Agreement or within 8 weeks from the Option date	20% less 5% booking fee
Completion of foundation work	10%
Completion of reinforced concrete framework of unit	10%
Completion of brick walls of unit	5%
Completion of roofing/ceiling of unit	5%
Completion of electrical wiring, internal plastering, plumbing and installation of door and window frames of unit	5%
Completion of car park, roads and drains serving the housing project	5%
*Notice of Vacant Possession (TOP) taking of keys	25%
On Completion Date	15%
Total Payment	100%


Deferred Payment Scheme
Stages of Payment	Percentage of Purchase Price Example 1	Percentage of Purchase Price Example 2
Upon the grant of Option to Purchase	5%(booking fee)	5%(booking fee)
Upon signing of the Sale & Purchase Agreement or within 8 weeks of Option date	20% less booking fee	10% less booking fee
Notice of Vacant Possession	65%	75%
Completion Date	15%	15%
Total Payment	100%	100%