Progressive Payment for Purchasing a New Launch or Uncompleted Project in Singapore
When purchasing an uncompleted property or a building that is still under construction, payments are made progressively based on the stage of development.
After completing the initial steps such as booking the unit, signing the Sales and Purchase Agreement (S&P), and paying the applicable Stamp Duty, the progressive payment schedule will begin. Each payment installment is triggered by the completion of specific construction milestones, as stated in the S&P Agreement.
| Stage | Estimated Timeframe | Description | Payment |
|---|---|---|---|
| Stage 1 | Est. 6 – 12 months | Completion of foundation work | 10% |
| Stage 2 | Est. 6 – 9 months | Completion of reinforced concrete framework of the unit | 10% |
| Stage 3 | Est. 3 – 6 months | Completion of brick walls of the unit | 5% |
| Stage 4 | Est. 3 – 6 months | Completion of roofing / ceilings of the unit | 5% |
| Stage 5 | Est. 3 – 6 months | Completion of electrical wiring, internal plastering, plumbing & installation of door & window frames of the unit | 5% |
| Stage 6 | Est. 3 – 6 months | Completion of carparks, roads, & drains serving the development | 5% |
| Stage 7 | Est. 3 – 6 months | Notice of vacant possession (Temporary Occupation of Permit - TOP) | 25% |
| Stage 8 | Est. 1 – 12 months | On certification of statutory completion (CSC) | 15% |
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