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Hi, I am EP holder and have been working in Singapore for 2 years plus. I am looking for condo with 2 or 3 bed room. I got information that progressive down payment can be applied based on the percentage of completion of the building. Please your advice whether this information is correct or not. And also how much Down Payment for the condo with 2 or 3 bed room? Thanks a lot. :)
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1 Answer

Ivan Ng
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Hi,

yes for projects under construction, your payment follows the progressive payment schedule. however, for a foreigner, at the minimum, the 1st 20% downpayment + 18% stamp duties is payable fully within 8 weeks of booking unit.
breakdown as follows:

5% cash
15% cpf
18% stamp duties
80% max loan (if possible)

Thanks, may I know which project has caught your eye? I will be glad to share with you more on the financing and whether it is a value-buy. Hope to speak to you soon.

Warm regards,
Ivan ERA
 97432395 
ivanng10@gmail.com Read More
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