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Good morning,

It depends on the construction progress.

For newly launched development, downpayment will be 20% (minimum 5% cash balance either CPF or cash) if you are able to obtain max 75% bank loan. Next 5% will be payable when foundation is built.

My client just bought a building under construction as well but foundation is up, thus his downpayment will be full 25% instead of 20%.

Other initial outlay will be:
- stamp duties
- legal fees
- valuation

Care to share more about your requirements and budget so I will be in a better position to advise you which development suits you the most.

Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?

Best regards,

YT Tan
Property Kaki
You dream. I create. We make it happen!
Association of Chartered Certified Accountants Graduate
Singapore Accredited Mortgage Planner

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Good morning,

It depends on the construction progress phase when you purchase the condo.

If its newly launched with foundation not done, a minimum of 20% downpayment (minimum 5% cash) plus relevant buyer stamp duties will be required.

Thereafter another 5% will be payable when the foundation of the condo is done. This is all assuming 75% loan is not an issue.

Hope the above clarifies. May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
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New launch condo buyer Andy & family: While we are searching for an agent to help us with purchasing a unit at a new launch condo, we get to know Ivan from PropertyGuru. Initially we had issue with the funding. Ivan has been extremely patients with all our questions and ideas during financial planning.Our ballot queue is not in the front, however Ivan has always been able to propose options for us to eventually get a decent unit that both my wife and i liked.Being the first timer ourselves, there are always so many questions marks and unknowns. Yet Ivan has been the one single person that we can always rely on, be it financial, legal, or even renovation related. The follow-up is literally within a snap of finger - we could always expect an accurate reply within minutes. It's a short and eventful journey, we are really grateful that such an outstanding and committed agent like Ivan is aroun d to support & guide us along the way. A big THANK YOU to Ivan for the great effort and commitment. Read More

Maximum loan eligible for a private residential property purchase is 75% therefore the buyer will require to have 25% funds ready, of which at least 5% must be in cash and balance to be made up of cash and CPF. Do not forget that stamp duty of up to 6% will also be applicable depending on the price of your purchase and this amount must be paid in cash first before you apply for reimbursement from CPF if you are intending to use CPF for stamp duty payment. The rest will be miscellaneous fees like conveyancing (legal) as well as valuation.

I have been in the real estate business since 2009, with more than 13 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

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Hi,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, the minimum down payment for cash will be at 5% first and may I know which project you are looking at?

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Hi, appreciate your sharing, it depends on purchase price.

If at $1mil.
5% - cash
20% - cash/CPF OA

Assuming 75% loan attained
3% - stamp fees
Legal fees $3000
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex Read More

Hi Sir/Mdm,

If you are buying near the launch, the min down payment will be about 20% + Stamp Duty. If the foundation is up already, then it will be 25% + Stamp Duty.

A new launch condo is a good option in view of the high interest rates environment. Feel free to contact me so that I can give you an overview of the purchase process and provide you with an in-depth analysis of the property market.

Regards,
Nick Tan
(M) +65 9644 4854 
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Cert-in-REA
(E) nick96444854@gmail.com
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