By UOL & SingLand at District 10

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Showflat Hotline: 6881-4965

Payment Scheme

What is Progressive Payment Scheme?

Buying a new launch property in Singapore can be both thrilling and perplexing. One crucial aspect that often perplexes potential buyers is the progressive payment scheme. Understanding this payment structure is essential to navigate the complex journey of acquiring a new property. In this guide, we will delve into the intricacies of progressive payments and unravel the timeline involved in purchasing a new launch property.

Breaking down the term, progressive payments refer to a phased payment system where buyers make payments at different stages of the construction process. This structured approach ensures that funds are allocated as needed for various milestones, offering financial stability to both developers and buyers.

Progressive Payment & Timeline Table

Here is an overview of the progressive payment scheme:

Initial Payment
Stage & Payable Fees (%)TimelineMode of Payment
Booking of Unit: Option to Purchase (5%)Day 1Cash Only
Engage a Solicitor
& Mortgage Banker
Delivery of Sale & Purchase Agreement
Next 2 WeeksCash / CPF
Exercise Sale & Purchase (15%)Within 3 WeeksCash / CPF
BSD / ABSDWithin 14 DaysCash / CPF
Legal Fees: $2500 ~ $4000Cash / CPF
Progressive Payment Based On Construction Stage
Stage 1: Foundation (10%)Est. 6 ~ 9 months from launchCash / CPF / Loan
Stage 2: Unit Concrete Framework (10%)Est. 6 ~ 9 monthsCash / CPF / Loan
Stage 3: Brick Walls (5%)Est. 3 ~ 6 monthsCash / CPF / Loan
Stage 4: Ceiling/Roofing (5%)Est. 3 ~ 6 monthsCash / CPF / Loan
Stage 5: Door/Window/Plumbing/Wiring (5%)Est. 3 ~ 6 monthsCash / CPF / Loan
Stage 6: Carparks/Roads/Drains (5%)Est. 3 ~ 6 monthsCash / CPF / Loan
Stage 7: TOP (25%)Next 1 yearCash / CPF / Loan
Stage 8: Cert. of Completion (15%)Up to 27 years or
your Loan Tenure

Cash / CPF / Loan
Normal Progressive Payment Schedule

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