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Understanding Progressive Payment Plans for Singapore Condo Launches: A New Launch Buyer’s Guide


What is a Progressive Payment Plan? A progressive payment plan is a payment schedule linked to the construction stages of your new condo. Instead of paying the total price upfront, payments are ‘progressive’, meaning they are made in installments as the construction progresses.

The Stages of Progressive Payment

Est. Time FrameStagesPayment DescriptionPayment Method
At BookingBooking Fee5%Upon exercising of option. Prepare for some additional costs such as engaging a solicitor (~$3000) and mortgage loan stamp duty (~$500)Cash
Within 8 weeksDownpayment15%Remaining downpayment + any buyer stamp duty & additional buyer stamp duty if applicableCash/CPF
6-9 monthsFoundation Work10% (5%+5%)Foundation work is completed.Cash/CPF/Bank loan
12-18 monthsReinforced Concrete Framework10%Upon completion of the reinforced concrete framework.Cash/Bank loan
15-24 monthsPartition Walls5%Brick/Partition walls are done.Cash/Bank loan
18-30 monthsCeiling/Roofing/Top Floor5%The ceiling, roof, or top floor is completed.Cash/Bank loan
21-36 monthsDoor, window frames, wiring, internal plastering, and plumbing of unit5%Interior works such as Door and window frames in position, wiring, internal plastering, and plumbing of unitCash/Bank loan
24-42 monthsCarpark, Roads, and Drains5%Finishing of external works such as carpark, roads, and drains.Cash/Bank loan
Notice of vacant possessionTemporary Occupation Permit (TOP)25%The property has been completed in all respectsCash/Bank loan
Legal completion dateDate of legal completion/certificate of statutory completion (CSC)15%Property has been completed in all respectsCash/Bank loan
Est. Progressive payment schedule

Note: The estimated time frames are indicative and may vary depending on the project’s progress and construction schedule.

Benefits of a Progressive Payment Plan

Financial Flexibility

It allows you to stagger payments, providing financial flexibility.

Lower Initial Investment

The initial outlay is lower compared to a fully constructed property.

Linked to Construction Milestones

Payments are linked to construction progress, ensuring your investment is in sync with the project development.

Potential Capital Appreciation

As the project nears completion, the property value might appreciate, offering potential gains.

Things to Consider

Loan Disbursements

Understand how your bank disburses loans at each stage.

Construction Delays

Be prepared for potential construction delays.

Market Risks

Keep in mind the property market risks and trends.


Navigating the purchase of a new condo launch in Singapore can be both exciting and complex, especially when it comes to understanding and managing your finances. The progressive payment plan offers a manageable and structured way to finance your dream home, aligning payments with the construction milestones.

As a seasoned property agent specializing in new condo launches, I understand the nuances of these investments and am here to guide you through every step of the process. If you’re considering a new launch condo and want expert advice tailored to your unique situation, don’t hesitate to reach out. Together, we can find the perfect home that fits your lifestyle and financial goals.

Donovan Cho
Donovan Chohttps://www.propertyupgrader.com.sg
Donovan, a seasoned real estate professional with PropNex, specializes in Singapore's residential market. His strong market insights, negotiation skills, and commitment to excellent service make him a trusted advisor in the dynamic Singapore real estate landscape. Known for integrity and attention to detail, he's the go-to expert for buyers, sellers, and investors. Please feel free to contact me at +65 8087 5557 for a free and non-obligatory consultation on your property matters. CEA Licence No.: L3008022J / R068374I
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