Buying a Condo in Singapore: The Full Process, Step by Step (2026)

Buying a condo in Singapore follows a set sequence, and most of the expensive mistakes happen when buyers skip a step: booking before checking the loan, forgetting stamp duty is due within weeks, or not counting an HDB flat as a property. This guide walks through the full process for a new launch, with the key rules at each stage and links to the detailed guides. The worked figures use LinkTown Residences (Hougang Central Residences), the condo planned above Hougang MRT (NE14), as an illustration.

Step 1: Check who you are buying as

Singapore Citizens, PRs and foreigners can all buy a private condo (non-landed) without approval. The difference is the Additional Buyer’s Stamp Duty (ABSD), which depends on residency and how many homes you already own, including any share of an HDB flat. Our guides for PR buyers, foreign buyers and singles buying a condo cover each profile.

Buyer	1st home	2nd home	3rd and later
Singapore Citizen	0%	20%	30%
Permanent Resident	5%	30%	35%
Foreigner	60%	60%	60%

Joint buyers pay the rate of the buyer profile with the highest rate. HDB owners can generally buy private property once the flat has passed its Minimum Occupation Period, but the condo then counts as a second home. Married couples with at least one citizen can get that ABSD refunded if the first home is sold in time. Our ABSD guide covers the rates and the refund.

Step 2: Set your budget

Your budget is the lower of two limits: what the bank will lend and what you can pay upfront.

• The loan: TDSR caps all monthly debt repayments at 55% of gross income, with the new loan tested at 4% for private property. See the TDSR guide.
• The down payment: LTV for a first loan is 75% (55% if the tenure is over 30 years or runs past age 65), so you pay 25% or more, at least 5% in cash. Our condo down payment guide sets out every level.
• Stamp duty: Buyer’s Stamp Duty (BSD) of 1% to 6% by tier, plus any ABSD.

Step 3: Get an in-principle approval

An in-principle approval (IPA) from a bank confirms roughly how much it will lend you, based on your income and debts. It is valid for a limited period, so time it for the weeks before the preview, and have it ready before booking day. Private property needs a bank loan; HDB loans are not available for condos.

Step 4: Shortlist the project and unit

For a new launch, this is when previews happen, usually a week or two before booking. Things to compare:

• Location and transport: walking time to the MRT, bus links, future lines.
• Price and psf: compared with recent launches and resale nearby.
• Layout: usable space rather than headline sq ft; check the floor plan for AC ledges, bay windows and column positions.
• Stack and floor: facing, view and noise, plus the premium you pay for them.

For LinkTown Residences, the developers have not yet released the showflat location, prices or unit mix. The showflat page will carry details once announced.

Step 5: Booking day and the Option to Purchase

On booking day you choose an available unit and pay a 5% booking fee (usually by cheque or cashier’s order). The developer issues an Option to Purchase (OTP). For popular launches, buyers are often balloted to decide the order in which they pick units.

Step 6: Loan, Sale and Purchase Agreement and stamp duty

1. Apply for the loan on the unit you booked. The bank values it and issues a letter of offer.
2. Appoint a conveyancing lawyer. They handle the Sale and Purchase Agreement (S&P), stamping and CPF paperwork.
3. Sign the S&P and pay 15% of the price, about eight weeks from the option date. CPF Ordinary Account savings can usually go towards this.
4. Pay stamp duty within 14 days of signing the S&P. BSD and any ABSD are due now, not at completion.

Step 7: Progressive payments during construction

Under the normal progressive payment scheme, the rest of the price is paid as the building goes up:

Stage	% of price
Option to Purchase	5%
Sale and Purchase Agreement	15%
Foundation	10%
Reinforced concrete framework	10%
Partition walls	5%
Roofing	5%
Doors, windows, wiring, plumbing	5%
Car park, roads and drains	5%
Temporary Occupation Permit (TOP)	25%
Certificate of Statutory Completion (CSC)	15%

The bank disburses the loan stage by stage, and you pay interest only on what has been drawn. The payment scheme page explains how this applies to LinkTown Residences.

Step 8: TOP, keys and CSC

At TOP you pay the 25% stage, collect keys and inspect for defects. The defects liability period usually runs 12 months from vacant possession. CSC follows once all statutory requirements are met. Our TOP vs CSC guide covers the handover.

Worked example: a first-time buyer at Hougang Central Residences

• Price: S$1,695,000. Singapore Citizen, first home, no ABSD.
• Booking (cash): S$84,750.
• At S&P, about eight weeks later: S$254,250 (cash or CPF).
• BSD within 14 days of the S&P: S$54,350.
• Foundation stage: S$84,750 from the buyer, then the loan takes over.
• Maximum loan at 75% LTV: S$1,271,250, drawn progressively until CSC.

Register to get LinkTown Residences preview dates and prices as soon as they’re released.

Frequently asked questions

Who can buy a condo in Singapore?

Singapore Citizens, Permanent Residents and foreigners can all buy a private condo without government approval. What differs is the Additional Buyer’s Stamp Duty: 0% for a citizen’s first home, 5% for a PR’s first home and 60% for foreigners, as of September 2026.

How much do I need to buy a condo in Singapore?

With a first loan at 75% LTV, the down payment is 25% of the price, of which at least 5% must be cash. Stamp duty comes on top. For an illustrative S$1.7 million 2-bedroom, that is about S$424,000 down plus about S$54,000 in Buyer’s Stamp Duty.

How long does it take to buy a new launch condo?

Booking to Sale and Purchase Agreement takes about eight weeks. Construction then usually takes several years; LinkTown Residences is expected to complete around 2030/2031.

Can I keep my HDB flat and buy a condo?

Once the flat is past its Minimum Occupation Period, you can generally buy private property while keeping it, but the condo counts as your second home for ABSD. Married couples can get the ABSD refunded if they sell the flat within IRAS’s time limit.