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Table of Contents
- Singapore Condo Downpayment: The LTV Rule Framework
- Worked Example: Buying a $1.5M Condo as First-Time SC Buyer
- How BSD Is Calculated in 2026
- ABSD Downpayment Impact: How ABSD Changes Your Upfront Cost
- CPF Usage for Condo Downpayment: What You Need to Know
- Progressive Payment Scheme (PPS): New Launch Downpayment Timeline
- Related Guides
Singapore Condo Downpayment: The LTV Rule Framework
The downpayment you need is determined by the Loan-to-Value (LTV) ratio set by MAS. For private condominiums in 2026:
- If you have NO outstanding home loans: Maximum LTV = 75%. Minimum downpayment = 25% (of which at least 5% must be in cash)
- If you have 1 outstanding home loan: Maximum LTV = 45%. Minimum downpayment = 55% (of which at least 25% must be in cash)
- If you have 2 or more outstanding home loans: Maximum LTV = 35%. Minimum downpayment = 65% (of which at least 25% must be in cash)
The remaining downpayment above the cash minimum can be funded using CPF Ordinary Account (OA) savings.
Worked Example: Buying a $1.5M Condo as First-Time SC Buyer
| Cost Component | Amount |
|---|---|
| Purchase Price | $1,500,000 |
| Minimum Cash Downpayment (5%) | $75,000 cash |
| Remaining Downpayment (20% CPF/cash) | $300,000 |
| Home Loan (75% LTV) | $1,125,000 |
| Buyer’s Stamp Duty (BSD) | $44,600 |
| ABSD (SC 1st property: 0%) | $0 |
| Legal Fees (conveyancing) | ~$3,000–$4,000 |
| Total Upfront Outlay | ~$422,600–$423,600 |
How BSD Is Calculated in 2026
Buyer’s Stamp Duty (BSD) applies to all Singapore property purchases. The 2026 BSD schedule for residential property:
- First $180,000: 1% = $1,800
- Next $180,000: 2% = $3,600
- Next $640,000: 3% = $19,200
- Next $500,000 (from $1M to $1.5M): 4% = $20,000
- Next $1.5M (from $1.5M to $3M): 5%
- Above $3M: 6%
For a $1.5M condo: BSD = $1,800 + $3,600 + $19,200 + $20,000 = $44,600
ABSD Downpayment Impact: How ABSD Changes Your Upfront Cost
| Buyer Profile | ABSD Rate | ABSD on $1.5M |
|---|---|---|
| SC buying 1st property | 0% | $0 |
| SC buying 2nd property | 20% | $300,000 |
| PR buying 1st property | 5% | $75,000 |
| PR buying 2nd property | 30% | $450,000 |
| Foreigner 1st property | 60% | $900,000 |
CPF Usage for Condo Downpayment: What You Need to Know
CPF Ordinary Account (OA) savings can be used for the downpayment above the minimum 5% cash requirement, and for monthly mortgage installments. Key rules for 2026:
- CPF OA can fund up to 100% of the Valuation Limit (VL) if the property has ≥30 years remaining lease
- For leasehold property where lease + buyer’s age is less than 80 years: CPF usage is pro-rated (Withdrawal Limit applies)
- CPF accrued interest at 2.5% p.a. must be refunded when property is sold
- CPF cannot be used for BSD, ABSD, legal fees, or agent commission
Progressive Payment Scheme (PPS): New Launch Downpayment Timeline
For new launch condos, the full 25% downpayment is not due on day one. Under the Progressive Payment Scheme:
- Booking fee (OTP): 5% cash on booking
- Sale & Purchase Agreement (S&P): Additional 15% within 8 weeks of OTP (cash or CPF)
- Foundation completion: 10% (cash or CPF, disbursed from bank loan)
- Subsequent milestones (framework, partition, etc.): Remaining loan disbursements in stages
The PPS means new launch buyers pay in instalments tied to construction milestones — unlike resale where the full sum is due at completion.
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Related Guides
- CPF Usage Guide for New Condo Purchases
- LTV Limit & Property Loan Guide Singapore
- ABSD Singapore 2026 Complete Guide
- First-Time Buyer Complete Guide 2026
