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Singapore Condo Buying Checklist 2026 — 20 Things to Check Before You Sign

1. Get AIP from bank (check TDSR 55%): Secure an Approval in Principle from your preferred lender early. Banks strictly enforce the 55% TDSR limit, meaning all your monthly debt obligations cannot exceed 55% of your gross monthly income.
2. Calculate total cash outlay (5% booking + 15% S&P + BSD + ABSD + legal fees): Factor in every upfront cost. New launches require a 5% option fee followed by a 15% payment upon exercising the OTP. Resale transactions often demand immediate 5% exercise deposits. Add Buyer’s Stamp Duty (BSD), Additional Buyer’s Stamp Duty (ABSD) if applicable, and conveyancing fees.
3. Check CPF OA balance for payment: Verify your Ordinary Account balance covers the downpayment and monthly installments. CPF usage is subject to the Valuation Limit (VL) and Withdrawal Limit (WL), which cap how much you can utilise for property acquisition.
4. Confirm monthly installment within budget (stress test at +2%): Do not budget based on current promotional rates. Run your repayment calculations at a +2% interest rate shock to ensure affordability if mortgage rates rise in the coming years.
5. Check if ABSD applies and amount: Foreigners face 60% ABSD, while second-home Singapore Citizens pay 20%, and PRs pay 30% or 35% respectively. Verify your tax status and remission eligibility before proceeding.
6. Check developer track record (past projects, quality): Research the developer’s previous launches, defect rectification speed, and maintenance standards. Established developers typically deliver better finishing and management transition.
7. Review site plan — check stack position, facing, noise: Analyse the architectural site plan carefully. Corner stacks offer cross-ventilation, while units facing main roads or lift lobbies may experience higher noise and lower privacy.
8. Read terms of OTP carefully (cooling-off period: 14 days): The Option to Purchase is legally binding once exercised. Note the exact expiry date, payment milestones, and the 14-day cooling-off provision for new launches.
9. Check lease tenure (freehold vs 99-year — check remaining lease): Freehold properties offer generational value retention, while 99-year leaseholds are more affordable but depreciate as the lease shortens. Always verify remaining lease years via SLA.
10. Review management fee estimate (psf/month): Condo maintenance fees typically range from $0.35 to $0.65 psf monthly. Factor this into your long-term housing budget, especially for large units or facilities-heavy developments.
11. Check MRT walking distance (Google Maps, not developer brochure): Walk the actual route yourself. Developer marketing often uses straight-line distance. Real walking paths, overhead bridges, and traffic signals add 5–10 minutes.
12. Check school proximity (1km, 2km for primary school ballot): If school placement is a priority, verify exact distance boundaries via MOE’s official tools. Phase 2C balloting heavily favours residents living within 1km and 2km of popular primary schools.
13. Check nearby developments that may block views: Use the URA Space portal and check approved planning applications. A sea or park view today may be obstructed by a future 30-storey residential or commercial block.
14. Check URA Master Plan — future land use changes: Zoning dictates neighbourhood evolution. A current low-density area may be rezoned for commercial or high-density residential use, altering traffic, amenities, and noise levels.
15. Check flood history (PUB flood maps): Review the Public Utilities Board (PUB) flood map for historical flash flood occurrences. Low-lying estates or older drainage systems may require higher ground-floor clearance or sump pumps.
16. Engage independent conveyancing lawyer: Never rely on the developer’s in-house legal team. An independent solicitor protects your interests, reviews clauses, and ensures proper title transfer and caveat lodging.
17. Check encumbrances on property title: Conduct a title search to uncover existing mortgages, caveats, or legal disputes. Resale units must be free of outstanding charges before transfer can proceed.
18. Review S&P agreement terms with lawyer: Scrutinise completion dates, defect liability periods, liquidated damages for delays, and force majeure clauses. New launches have standard S&P templates, but deviations require legal approval.
19. Confirm stamp duty deadlines (BSD + ABSD = 14 days after OTP): IRAS imposes strict deadlines. Late submission attracts penalties and may jeopardise your purchase. Plan fund disbursement at least three days in advance.
20. Check SSD (Seller’s Stamp Duty) if planning to sell within 3 years: SSD applies to properties sold within three years of acquisition: 12% (year 1), 8% (year 2), 4% (year 3). Factor this into your exit strategy.

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Financial Checklist Before Signing

Securing a condominium in Singapore’s 2026 property market demands rigorous financial preparation before you even view a show flat. The first step is obtaining an Approval in Principle (AIP) from your bank. Unlike a pre-qualification, an AIP involves a formal credit assessment, income verification, and debt consolidation check. Lenders strictly enforce the Total Debt Servicing Ratio (TDSR) framework, which caps your total monthly debt repayments at 55% of your gross monthly income. This includes car loans, credit card minimums, student loans, and other property mortgages. Exceeding this threshold means your loan application will be rejected regardless of your downpayment size.

Once your financing capacity is clear, map out your total cash outlay. Many first-time buyers focus solely on the property price and overlook mandatory statutory costs. For a typical new launch, you will need 5% in cash for the booking fee, followed by 15% upon exercising the Option to Purchase (OTP). This 20% downpayment must be paid in cash if CPF Ordinary Account (OA) funds are insufficient or if the property valuation falls short of the purchase price. You must also account for Buyer’s Stamp Duty (BSD), calculated on a tiered basis up to 4%, and Additional Buyer’s Stamp Duty (ABSD) if you are not a first-time Singapore Citizen buyer. Conveyancing fees, fire insurance deposits, and renovation advances further strain liquidity. Always maintain a separate emergency fund equivalent to three months of mortgage payments.

Stress-testing your monthly installment is non-negotiable. Mortgage rates in Singapore fluctuate with global monetary policy and SORA benchmarks. While promotional fixed rates may look attractive initially, they typically revert to floating rates after 12 to 24 months. Calculate your repayment at a +2% interest rate buffer above current bank offers. If the installment exceeds 30% of your take-home pay, consider a smaller unit, a different development, or extending your loan tenure to 30 years. Finally, verify your CPF OA balance against the property’s Valuation Limit and Withdrawal Limit. CPF can cover the downpayment and monthly installments, but once you hit the Withdrawal Limit, all subsequent repayments must come from cash.

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Location and Site Due Diligence

Location remains the primary driver of capital appreciation and rental yield in Singapore’s residential market. However, marketing claims rarely match ground reality. Always verify MRT walking distance using Google Maps Street View and physically walk the route during peak hours. Developer brochures often measure straight-line distance, ignoring overhead bridges, busy intersections, or private road diversions that add significant travel time. If proximity to primary schools is critical for your family, consult the Ministry of Education’s official distance tool. The 1km and 2km radiuses directly influence Phase 2C school balloting odds, and even a 100-metre difference can impact your child’s placement chances.

Before selecting a unit stack, study the architectural site plan meticulously. Corner units typically offer superior cross-ventilation and reduced noise from shared walls. Avoid stacks directly facing garbage chutes, lift motor rooms, or basement exhaust vents. High-floor units may command a premium, but they are also more exposed to wind-driven rain and higher cooling costs. Review the management corporation’s estimated maintenance fee, usually quoted in dollars per square foot per month. Facilities-heavy developments with multiple pools, tennis courts, and co-working lounges naturally incur higher sinking fund contributions and monthly levies.

Future-proof your investment by consulting the URA Master Plan and checking nearby planning applications on the URA Space portal. A quiet low-rise neighbourhood today may be slated for high-density commercial or residential development within the next decade, altering traffic flow and views. Additionally, cross-reference the Public Utilities Board (PUB) flood map to identify historical flash flood zones. Low-lying estates or older drainage networks may experience waterlogging during heavy monsoon seasons, which can affect basement car park accessibility and ground-floor unit usability. Always visit the area on a rainy day to observe drainage efficiency firsthand.

Legal Checklist Before Signing

Property transactions in Singapore are legally binding from the moment you sign and pay the exercise deposit. Never rely on verbal assurances from sales agents or developer representatives. Engage an independent conveyancing lawyer who specialises in residential real