Guide to Buying a New Launch in Singapore

A private condominium launch is far less restricted than an HDB flat or an Executive Condominium (EC): there is no income ceiling, no family-nucleus requirement and no Minimum Occupation Period (MOP). What really separates buyers is the Additional Buyer's Stamp Duty (ABSD) for their profile, and whether they can use CPF savings and borrow from a bank.

• Foreigners generally need no prior approval for a condominium unit, but landed homes such as terrace houses, semi-detached houses and detached houses are restricted residential property and need approval from the Land Dealings Approval Unit first; Sentosa Cove has its own arrangements.
• Citizens and permanent residents can use CPF Ordinary Account savings towards part of the purchase; a foreigner who is not a PR cannot use CPF, so the down payment and stamp duties must be funded in cash.
• Foreigners can borrow from Singapore banks, but the maximum loan depends on the bank's assessment and income documentation is often scrutinised more closely — do not assume the top loan-to-value ratio is automatic.

ABSD is charged on the higher of the purchase price and the market value. For a joint purchase, ABSD follows the highest applicable profile among the buyers, subject to IRAS assessment. Under free-trade agreements, nationals of the United States, Iceland, Liechtenstein, Norway and Switzerland are treated as citizens for ABSD.

Start with the overview, then weigh the new launch on its own merits. No home type wins on every dimension — the question is whether its wait, cash profile and holding period fit yours.

• New-launch strengths: a brand-new home built to current standards, a full lease term from completion, payments spread over several years so early monthly instalments are smaller, and the chance to choose around school and commuting plans several years out.
• New-launch weaknesses: a per-square-foot premium over nearby resale, a 3–4 year wait with no rental income in between, no actual unit to judge sunlight and noise from, possible completion delays, and interest-rate and price movements during the wait.
• Resale strengths are what-you-see-is-what-you-get, immediate move-in or rental, and room to negotiate with the seller; the costs to weigh are the age and remaining lease already consumed, plus renovation and upkeep.
• A TOP-ed launch suits buyers who cannot wait years but still want a new home — with the trade-off that only the developer's remaining units are left to choose from.

EC income ceilings, MOP lengths and privatisation timelines depend on when the land was sold, under old or new rules. Always check the HDB position and the project documents for that specific project.

1. 1Budget first, then loan pre-approval: work out how much you can borrow from income, existing loans and cash. An in-principle approval (IPA) is not a final approval, but it stops you from shortlisting a home you cannot finance.
2. 2Visit showflats and build a shortlist: filter by budget, MRT access, schools, usable layout area and expected TOP, and judge the floor plan's usable space — not the showflat's furnishings.
3. 3Register interest and wait for the launch ballot: popular launches ballot for the order of selection. A ballot number does not guarantee your preferred unit, so rank back-up layouts in advance.
4. 4Select a unit at launch and pay a 5% booking fee: on selection you sign the Option to Purchase (OTP), and the 5% booking fee must be paid in cash.
5. 5Exercise the OTP within its validity period and sign the Sale and Purchase Agreement (S&P), paying a further 15% — 25% in total as down payment. Buyer's Stamp Duty (BSD) and ABSD are payable within 14 days of signing the S&P, per the IRAS deadline.
6. 6Pay progressively as construction advances: after each certified construction milestone the developer issues a payment notice, and the bank loan is drawn in step, so interest is charged only on amounts already disbursed and instalments grow over time.
7. 7Collect the keys at Temporary Occupation Permit (TOP): inspect the unit and report defects within the defects liability period in the S&P, commonly 12 months.
8. 8Pay the balance at Certificate of Statutory Completion (CSC): legal completion of the home follows, after which you can move in or rent it out.

This is the standard progressive payment structure. The exact stages and wording follow each project's S&P, and individual projects may differ slightly.

The price is only the first number. What decides whether you can buy is the down payment, stamp duty and loan ceiling added together.

• A first housing loan can reach 75% of the price, with at least 5% of the price in cash within the 25% down payment; a second loan with an outstanding housing loan drops to 45%, and a third to 35%. Tenures over 30 years, or running past age 65, reduce the ceiling further — the bank's final approval governs.
• The Total Debt Servicing Ratio (TDSR) caps total monthly debt at 55% of gross monthly income, and banks stress-test affordability at no less than a 4% interest rate — a low actual rate does not raise your borrowing limit.
• Buyer's Stamp Duty (BSD) applies to every buyer, on a progressive scale: 1% on the first S$180,000, 2% on the next S$180,000, 3% on the next S$640,000, 4% on the next S$500,000, 5% on the next S$1,500,000, and 6% above S$3,000,000. On a S$1,500,000 home, BSD is S$44,600.

ABSD is paid on top of BSD. Upgraders who buy before selling may pay ABSD first and claim a remission later; the window and conditions follow the current IRAS rules and your lawyer's advice — do not assume a refund is automatic.

• First-home households that can wait 3–4 years: young couples or families planning ahead, for whom a citizen's 0% ABSD (5% for PRs) on a first home and staged payments match a timeline running from marriage and children to move-in.
• Households choosing for the future: families whose children will start school in a few years, or whose workplace will move, can lock in an MRT or school-area location years ahead rather than settling for today's resale stock.
• HDB upgraders: the deal stands or falls on two questions — whether and when the old flat sells, and whether the ABSD cash flow and remission window work while buying first. If the cash chain breaks, the upgrade does not work.
• Long-hold second-property buyers: with 20% ABSD for citizens and a 45% loan ceiling, a second new launch fits buyers holding long term for rental after TOP or future own-stay — not quick trading.
• PR and foreign households settling long term in Singapore: PRs face only 5% ABSD on a first home; foreign households must first accept the 60% ABSD reality, which usually only makes sense with a firm own-stay need and a long holding period.

• Tenure: 99-year, 999-year or freehold — and how the remaining term compares with nearby resale homes.
• Expected TOP: the year in the project information, matched against your move-in or rental timeline.
• Remaining units and sales pace: many units left is not automatically bad, but ask whether the project just launched or has been selling slowly for a long time.
• Usable layout area: for the same floor area, how much goes to walls, balconies and air-con ledges — measure furniture against the plan, not the showflat.
• Facing, floor and noise: west sun, a main road or an MRT viaduct will not show up in a showflat. Walk the surroundings in person.
• MRT and school distance: count walking time, not straight-line distance — especially in rain or with children.
• Developer's track record: the quality and delays of the developer's past completions matter more than the brochure renders.
• Nearby resale prices: how much premium the new launch charges over nearby resale, and whether newness, facilities and the wait justify it.
• Post-completion costs: monthly maintenance fees, parking arrangements and facility upkeep are bills you pay every month after moving in.

The slow part of choosing a new launch is comparing dozens of projects on price, remaining units, expected TOP and location. That is what this site is built for: the homepage groups launches into All New Launches, TOP-ed, Developer Discounts, Upcoming Launches and Featured, each project page brings together starting price, price per square foot, remaining units, expected TOP, location and nearby MRT stations and schools, and the Map Explorer puts every launch on one island-wide map to search by area.

Prices and availability are updated as projects launch, and the Developer Discounts section gathers final-release and last-batch offers in one place. Once you have a shortlist, use the site's contact panel for a free consultation: share your budget, target areas and layout needs, and get the latest price list, remaining units and floor plans, plus a showflat viewing appointment.