1. Timeline for Purchasing a New Launch or Uncompletd Project in Singapore
Stage | Action | Timeframe | Timeframe |
1 | Issue Option to Purchase (OTP) | Day 1 | 5% Booking Fee |
2 | Sales & Purchase Agreement (S&P) sent to Law Firm or Buyer | Within 2 weeks | — |
3 | Exercise OTP and sign S&P at Law Firm | Within 3 weeks from delivery of S&P | — |
4 | Pay all Stamp Duties (BSD & ABSD) | Within 2 weeks of signing S&P | Varies |
5 | Pay remaining downpayment (Cash/CPF/Both) | Within 8 weeks from Day 1 | 15% Downpayment |
6 | Progressive Payments | Thereafter | 80% Progressive Payment Breakdown |
Note: The entire procedure must be completed within 8 weeks from the Date of Option. Delays require written requests to the developer and are subject to approval.
2. Installment Calculator
Monthly Installment: $
Loan Amount: $
Down Payment: $
Stamp Duty: $
ABSD Amount: $
3. Loan Calculator
4. MSR & TDSR
Mortgage Servicing Ratio (MSR)
Applies to:
- HDB flats
- Executive Condominiums (ECs) purchased directly from developers
Cap:
- Max 30% of gross monthly income can go towards housing loan repayment
Formula:
MSR = (Monthly mortgage repayment) ÷ (Gross monthly income)
Must be ≤ 30%
Total Debt Servicing Ratio (TDSR)
Applies to:
- All property types, including private condos, landed, commercial, and HDB
Cap:
- Max 55% of gross monthly income can go toward all debts, including:
- Home loans
- Car loans
- Student loans
- Credit card debts
- Personal loans
Formula:
TDSR = (All monthly debt obligations) ÷ (Gross monthly income)
Must be ≤ 55%
Summary Comparison:
Criteria | MSR | TDSR |
Applies to | HDB, EC (from developer) | All properties |
Income Limit Ratio | 30% of gross monthly income | 55% of gross monthly income |
Includes | Mortgage loan only | All monthly debt obligations |
Affected Buyers | HDB & EC buyers | All property buyers (private incl.) |
Used Together? | Yes, for HDB and EC buyers | Yes, both MSR & TDSR apply together |
These guidelines are subject to change based on regulatory updates. It’s advisable to consult with financial institutions or relevant authorities for the most current information.
5. BSD (Buyer's Stamp Duty)
Purchase Price or Market Value | BSD Rate |
First $180,000 | 1% |
Next $180,000 | 2% |
Next $640,000 | 3% |
Next $500,000 | 4% |
Next $1,500,000 | 5% |
Remaining amount | 6% |
BSD is calculated on the higher of the purchase price or market value of the property and is rounded down to the nearest dollar, subject to a minimum duty of $1.
💰 BSD Calculator (Singapore)
6. ABSD (Additional Buyer's Stamp Duty)
Category | Type of Property | Rates Before 27 Apr 2023 | Rates On or After 27 Apr 2023 |
Singapore Citizens | First residential property | 0% | 0% |
Second residential property | 17% | 20% | |
Third and subsequent residential property | 25% | 30% | |
Permanent Residents | First residential property | 5% | 5% |
Second residential property | 25% | 30% | |
Third and subsequent residential property | 30% | 35% | |
Foreigners | Any residential property | 30% | 60% |
Entities/Trustees | Any residential property | 35% | 65% |
Housing Developers | Any residential property | 35% + 5%* | 35% + 5%* |
* The 5% is non-remittable and must be paid upfront upon purchase. Developers may apply for remission of the 35%, subject to conditions.
7. LTV (Loan-To-Value) Limits for Subsequent Property Purchases:
Property Purchase | Loan Tenure ≤ 30 Years & Age ≤ 65 | Loan Tenure > 30 Years or Age > 65 |
First Property | 75% LTV | 55% LTV |
Second Property | 45% LTV | 25% LTV |
Third and Subsequent Properties | 35% LTV | 15% LTV |
Note: The LTV ratio decreases with each subsequent property purchase. For the second property, the LTV is 45% if the loan tenure is up to 30 years and the borrower’s age does not exceed 65 years. If these conditions are exceeded, the LTV decreases to 25%. For the third and subsequent properties, the LTV is 35% under the standard conditions and 15% if the conditions are exceeded.
These guidelines are subject to change based on regulatory updates. It’s advisable to consult with financial institutions or relevant authorities for the most current information.
8. Contact Us
📩 Get in Touch
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🏡 Huttons Asia Pte Ltd
📍 3 Bishan Place #05-01 CPF Bishan Building Singapore 579838
📌 Albert Leow | CEA Reg. No. R012699G
📧 Email: sgoutlook@gmail.com
📞 WhatsApp: +65 8133 6858