Normal Payment Scheme (Progressive)



Upon the grant of Option to Purchase

5% (Booking Fee)

Within 8 Weeks from Option Date


Completion of foundation work


Completion of reinforced concrete framework


Completion of brick walls


Completion of roofing /ceiling


Completion of electrical wiring, internal plastering, plumbing & installation of door & window frames


Completion of car park, roads & drains serving the housing project


Notice of Vacant Possession (TOP)


On Completion Date



* Stamp Duty is payable upon signing of Sale and Purchase Agreement within 14 calendar days.

Sales and Purchase Agreement will be received after booking of unit; within 1 week from Option Date (Booking Day).


Summary of Cooling Measures (12th January 2013)

20130112 Summary of Cooling Measures


Total Debt Servicing Ratio (29th June 2013)

1 This includes sole proprietorships and vehicles set up by an individual solely to purchase property.

2 In the case of a joint application for a property loan, the TDSR shall be computed based on the aggregate total monthly debt obligations and aggregate gross monthly incomes of the joint borrowers.

3 Where a loan is secured by a pool of collateral including property, the TDSR rules will apply if the market value of the property is 50% or more of the value of the total pool of collateral.

4 Existing borrowers who are seeking to refinance their housing loans will be exempted, provided they meet the specific conditions set out in MAS’ Guidelines on the Application of TDSR for Property Loans under MAS Notices 645, 1115, 831 and 128.

5 3.5% for housing loans and 4.5% for non-residential property loans.

6Eligible liquid assets which are pledged for at least 4 years with the FI from which the borrower is taking the property loan will not be subject to any haircut.

7 Property loans in excess of the TDSR threshold of 60% should be granted only on an exceptional basis. The board of directors of the FI (or senior management in the case of an FI incorporated outside of Singapore) will have to approve policies and procedures relating to such exceptions. In addition, cases exceeding the threshold will need to be approved by the FI’s credit committee.

8 The income-weighted average age will be based on the borrowers’ gross monthly income.

9 Lower LTV limits apply to a loan granted for the purchase of a residential property, where the loan period extends beyond the retirement age of 65 years or the tenure exceeds 30 years.

10 In January 2013, MAS lowered the LTV limits for housing loans to individuals with one outstanding housing loan from 60% to 50%, and to individuals with two or more outstanding housing loans from 60% to 40%. Loans with longer tenure faced even tighter LTV limits. The LTV limit for housing loans to non-individuals was also reduced to 20%.

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