Singapore Property Glossary: 57 Terms from ABSD to URA, Explained Simply

Buying a home in Singapore means learning a second language of acronyms. Most of them are simple once someone explains them, and a few, such as ABSD and SSD, carry very large sums. This Singapore property glossary gathers the terms you are likely to meet when buying a new launch like LinkTown Residences (Hougang Central Residences), from the first preview to key collection. Each entry is short; where we have a full guide, the term links to it. A Chinese version is at 新加坡买房术语中英对照.

A to C

• ABSD (Additional Buyer’s Stamp Duty): a stamp duty on top of BSD, set by your residency and the number of homes you own. Singapore Citizens pay 0% on a first home, 20% on a second and 30% on a third or later. See our ABSD guide, and our guides for PR buyers and singles buying a condo.
• ABSD remission: a refund of ABSD for some married couples who buy a second home and sell the first within IRAS’s time limit. See ABSD remission for married couples.
• AC ledge: the external platform that holds air-conditioner condensers. It can form part of a unit’s strata area.
• Annual Value (AV): IRAS’s estimate of the yearly rent a property could fetch. Property tax is charged on it. See our property tax guide.
• Balance units: units still unsold after launch, often shown on a chart. See the balance units page.
• Ballot: a draw that decides the order in which buyers choose units at a popular launch.
• Bank valuation: the bank’s view of what a property is worth. Loans are based on the lower of price and valuation, and any shortfall is paid in cash. See bank valuation shortfall.
• Booking fee: the payment that secures a new-launch unit and gets you the OTP. It is 5% of the price under the Normal Payment Scheme.
• BSD (Buyer’s Stamp Duty): a tiered stamp duty every buyer pays, from 1% on the first S$180,000 up to 6% on the portion above S$3 million. See stamp duty on a new launch.
• BUC (building under construction): a property bought before completion, such as a new launch.
• CCR, RCR, OCR: URA’s three market segments: Core Central Region, Rest of Central Region (city fringe) and Outside Central Region, which includes Hougang. See CCR, RCR and OCR.
• CONQUAS: BCA’s construction quality assessment. BCA also bands developers and builders by their record of major defects.
• CPF Ordinary Account (OA): the part of CPF savings you can use for the down payment beyond the cash minimum, stamp duty and monthly instalments, within limits. See using CPF for private property.
• CSC (Certificate of Statutory Completion): issued when a building meets all statutory requirements, usually after TOP. The final 15% of a new-launch price is paid at CSC. See TOP vs CSC.

D to G

• Decoupling: removing one co-owner’s name from a property, often so that person can later buy without ABSD. Stamp duty applies. See decoupling.
• Defects liability period (DLP): usually 12 months from vacant possession, during which the developer must fix reported defects. See our new condo renovation checklist.
• DPS (Deferred Payment Scheme): a scheme some developers offer where most of the price is paid at TOP. Usually priced higher than the normal scheme.
• Dual-key unit: a main unit and a studio sharing one entrance foyer, under one strata title. See dual key condos.
• EC (Executive Condominium): a hybrid of public and private housing with HDB eligibility rules. LinkTown Residences is not an EC. See EC vs private condo.
• Elevation chart: a chart of every block, stack and floor, used to see what is available. See the elevation chart page.
• EOI (Expression of Interest): a submission, often with a cheque, that registers your interest before booking day. It is not a purchase.
• Freehold and leasehold: freehold has no expiry; leasehold, usually 99 years for new private launches outside the core, runs down over time. See freehold vs leasehold.
• GFA (gross floor area): the total built floor area allowed on a site, set by the plot ratio.
• GLS (Government Land Sales): the programme through which the state tenders land to developers. The Hougang Central site was sold this way. See the Hougang Central GLS site.

H to M

• Household shelter: a reinforced room in each unit built to civil defence standards. It counts in the strata area and should not be hacked or altered.
• Integrated development: homes built together with transport and other uses such as a mall or bus interchange. See what is an integrated development.
• Joint tenancy and tenancy in common: two ways to co-own. In a joint tenancy the survivor takes the whole; tenants in common hold defined shares. See joint tenancy vs tenancy in common.
• Lock-in period: the time during which repaying or refinancing a home loan triggers a penalty.
• LTV (loan-to-value) limit: the maximum a bank may lend as a share of price or valuation: 75% on a first housing loan, 45% on a second and 35% on a third, lower for longer tenures. See our home loan guide.
• Maintenance fee: the monthly contribution to the MCST, split between a management fund and a sinking fund and charged by share value. See condo maintenance fees.
• MCST (Management Corporation Strata Title): the body of all unit owners that runs a condo’s common property through an elected council.
• MOP (Minimum Occupation Period): the years HDB and EC owners must live in their flat before selling or buying private property. See HDB MOP and upgrade timing.
• MSR (Mortgage Servicing Ratio): a 30% cap on loan repayments for HDB flats and ECs bought from developers. It does not apply to private condos.

N to R

• NPS (Normal Payment Scheme): another name for the progressive payment scheme on a new launch.
• Occupancy cap: URA’s limit on unrelated occupants in a private home: six for units under 90 sqm. See renting out a condo.
• OTP (Option to Purchase): the seller’s promise to sell on set terms for a set period, in return for a fee. See Option to Purchase in Singapore.
• Plot ratio: the ratio of allowed GFA to land area. The Hougang Central site has a plot ratio of 2.5.
• PPS (Progressive Payment Scheme): the standard new-launch schedule: 5% at OTP, 15% at S&P, then stages through construction, 25% at TOP and 15% at CSC. See the payment scheme page.
• Private enclosed space (PES): a private outdoor area, typically attached to ground-floor units.
• Property tax: an annual tax on AV, with lower rates for owner-occupied homes.
• psf (per square foot): price divided by floor area, the usual way to compare homes of different sizes. See what psf means.
• psf ppr (per square foot per plot ratio): land price divided by the maximum buildable floor area, used to compare land bids. The Hougang Central site went for S$1,179 psf ppr.
• Refinancing: moving a home loan to a new package or bank, usually after the lock-in ends. See refinancing.

S to U

• S&P (Sale and Purchase Agreement): the contract of sale. For developer sales, it is a standard form set under the Housing Developers Rules.
• Share value: the weighting given to each unit in a condo, which sets its share of maintenance fees and its votes.
• Showflat: a model unit built to show a new launch’s layouts and finishes, also called a showroom or sales gallery. See the showflat page.
• Sinking fund: the part of maintenance fees saved for major repairs and replacements.
• SORA (Singapore Overnight Rate Average): the benchmark most floating home loans are pegged to. See SORA explained.
• SSD (Seller’s Stamp Duty): a duty on selling a home within four years of buying, from 16% down to 4%, for homes bought from 4 July 2025. See our SSD guide.
• Stack: units sharing the same position and layout on every floor of a block. See how to choose a stack.
• Strata area: the total area on a unit’s strata title, which can include balconies, AC ledges, the household shelter and voids. See how to read a floor plan.
• Strata title: ownership of a unit in a building, plus a share of the common property.
• Sub-sale: selling an uncompleted unit before CSC; the buyer takes over your payment schedule.
• TDSR (Total Debt Servicing Ratio): MAS’s cap on all monthly debt repayments at 55% of income, tested at a 4% interest rate for private property. See our TDSR guide.
• TOP (Temporary Occupation Permit): the permit that lets owners move in. Keys are collected after TOP, and 25% of a new-launch price is due then.
• URA (Urban Redevelopment Authority): Singapore’s land-use planning agency. It sells GLS land, publishes the Master Plan and private property data, and regulates housing developers. See our Hougang Master Plan page.
• Vacant possession: the developer’s handover of an empty, completed unit, which starts the defects liability period.

How these terms fit a purchase at Hougang Central Residences

In order, a buyer at LinkTown Residences would typically meet them like this: register and attend a showflat preview; submit an EOI; take part in any ballot; pay the booking fee and receive the OTP; sign the S&P and pay BSD (and ABSD if it applies); pay the PPS instalments through construction; collect keys at TOP, inspect during the DLP, and make the final payment at CSC. The purchase timeline puts dates against each step as they are announced, and our guide to buying a condo in Singapore walks through the full process.

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