With many new developments slated to launch in Singapore in 2019 after the en bloc spree, it is definitely a buyers market right now. If you are currently looking out for all the new condo launches, one crucial aspect that you will need to know is about how the condo progressive payment works.
So since we are talking about new launches that have not been constructed yet, one big advantage for you as a buyer is that you do not have to make the full payment right at the start. This means that a new launch that has a condo progressive payment scheme is an attractive option for buyers as you can stretch out your repayments over a longer time. The payments are set out in milestones from the beginning, and these would only have to be paid up when the developer attains the set milestone. Thus, it is seen as less of an undertaking as the payments are spread out up until the Temporary Occupation Permit (TOP) is issued. After which you will have to pay quite a big lump sum of 25%.
Let us look at an example of a typical condo progressive payment in Singapore.
Assuming a condo purchase price of $1.5 million, this would be the usual progressive payment scheme you will see.
Stage | % of Purchase Price | Amount SGD ($) |
Upon grant of Option to Purchase | 5% (booking fee) | $75,000 |
Upon signing of the Sale & Purchase Agreement or within 8 weeks from the option date | 15% | $225,000 |
Stamp Duty (1st Property) This is payable within 2 weeks of sining the Sale & Purchase Agreement | $44,600 | |
Completion of foundation work | 10% | $150,000 |
Completion of reinforced concrete framework | 10% | $150,000 |
Completion of partition walls of unit | 5% | $75,000 |
Completion of ceiling of the unit | 5% | $75,000 |
Completion of door and window frames, electrical wiring, internal plastering and plumbing of unit | 5% | $75,000 |
Completion of car park, roads and drains serving the housing project | 5% | $75,000 |
Temporary Occupation Permit or Certificate of Statutory Completion | 25% | $375,000 |
On Completion Date | 15% | $225,000 |

Property Investment InsightsUltimate New Launch Cheat Sheet 2020 (Land Price, PSF PPR, Take Up Rate)
by SeanNote that in the scenario legal completion of the Sale & Purchase Agreement occurs before the issue of the Certificate of Statutory Completion (CSC), 2% will be paid to the developer on legal completion and the remaining 13% will be paid to the Singapore Academy of Law (SAL) as the stakeholder.
If the CSC is issued before the legal completion of the Sale & Purchase Agreement, 13% will have to be paid within 14 days after the buyer receives notice of the CSC. The final 2% will have to be paid to the developer upon legal completion.
So that is it for all you need to know about condo progressive payment in Singapore! As always feel free to leave a comment below or you can always reach us at hello@stackedhomes.com! If you need help to calculate, here is a useful calculator from moneyiq!
Druce Teo
Druce is the Chief Editor at the Stacked Editorial. He was first interested in property since university but never had any aspiration to become an agent, so this is probably the next best thing.Read next from Property Advice

Property Advice Why I Sold My 40-Year-Old Jurong Flat For A Newer Bukit Panjang One: A Buyer’s Case Study

Property Advice 5 Ways To Get A Better Price For Your Property When The Market Is Changing

Property Advice 5 Telltale Signs to Watch Before Property Prices Move In Singapore

Property Advice Condo Vs HDB Price Gap Analysis: Singapore Estates Where Resale HDBs Present A Clearer Value Case Than Condos
Latest Posts

Editor's Pick Penrith Condo Review: Full-Facility Condo For Just 462 Units Near The MRT

Editor's Pick This New 706-Unit Integrated Condo at River Valley Starts From $1.298M – And the Price Raises a Big Question for Buyers

Overseas Property Investing Why Renewed Interest In Johor Will Not Help All Investors In The Iskandar Region

Editor's Pick Faber Residence Pricing Review: How It Compares To Nearby Resale And New Launches

On The Market 5 Cheapest 5-Room HDB Flats You Can Buy Right Now From $535k

Singapore Property News The Real Reason Homes Keep Getting Snapped Up in Singapore

Editor's Pick We Toured One Of Singapore’s Most Expensive Landed Estates — Is It Really Worth The Price?

Property Market Commentary The Best Condo Rental Yields Near International Schools In Singapore Isn’t Where You’d Expect

On The Market The Cheapest 3-Bedroom Condos in Singapore You Can Buy Right Now Under $1.2M

Singapore Property News Record $1.27M Sale Makes This 30-Year-Old HDB The Town’s Priciest Yet

New Launch Condo Analysis Skye At Holland Pricing Review: How It Compares To Nearby Resale And New Launches

On The Market Three Rare Bungalows With Unique Design Hit The Market For $13.98m – Each With Over 9,300 Sq Ft Of Space

Pro Are Older One- and Two-Bedders in District 10 Holding Up Against the New Launches? We Break It Down

Property Market Commentary Are Singapore’s Oldest HDB Flats Finally Losing Value? A 2025 Price Update

Singapore Property News The World’s Real Estate Is Now Worth US$393 Trillion In 2025. Here’s Where Singapore Fits In

Can you share how this might change with delays in construction?