Process & timeline by property type
HDB resale
- Seller: Intent to Sell — valid 12 months, 7-day wait before OTP.
- Buyer: HFE letter — mandatory before OTP granted or exercised. ~21 working days. Valid 9 months.
- OTP — option fee $1–$1,000. 21 calendar days to exercise.
- Request for Value — next working day after option date, $120 non-refundable.
- Exercise — option + exercise fee capped at $5,000, cash only.
- Joint resale application within 7 days.
- HDB processing ~8 weeks → completion, keys.
12–16 weeks from OTP; 3–4 months end-to-end. COV is cash only.
Grants (first-timers, stackable): EHG up to $120,000 families / $60,000 singles; CPF Housing Grant up to $80,000 (2–4rm) / $50,000 (5rm+); PHG up to $30,000.
Private resale (condo / landed)
1% option fee → OTP (typically 14 days, 14–21 negotiable) → exercise with further 4% → BSD/ABSD within 14 days of exercise → completion 8–12 weeks.
Landed additions: PRs/foreigners need LDAU approval under the Residential Property Act (~30 working days). Plan 3–6 months. Bank valuation gap is the landed equivalent of COV — get an indicative valuation before exercising.
EC (new, from developer)
- Income ceiling $16,000/month (new EC from developer only; not resale EC).
- At least one SC; 21 yrs (35 under Joint Singles); eligible family nucleus.
- No private residential property owned or disposed of in the past 30 months.
- MSR 30% applies. Bank financing only.
- No ABSD upfront for HDB upgraders, but the flat must be sold within 6 months of TOP.
- Resale levy may apply.
Existing rules (everything currently launched or in the pipeline): 5-yr MOP from TOP; privatisation at 10 yrs; DPS may be available.
New rules — EC GLS sites with tender closing on/after 8 May 2026: MOP 5 → 10 years · privatisation 10 → 15 years · DPS removed · first-timer quota 70% → 90% · priority window 1 month → 2 years. Won't affect a completed EC until roughly 2029+.
New launch — Progressive Payment Scheme
| Milestone | % |
|---|---|
| Booking / OTP | 5% — cash only |
| S&P exercise (within 8 weeks) | 15% — cash and/or CPF |
| Foundation | 10% — loan drawdown begins |
| Reinforced concrete framework | 10% |
| Partition walls | 5% |
| Roofing / ceiling | 5% |
| Door & window frames, wiring, plumbing | 5% |
| Car parks, roads, drains | 5% |
| TOP | 25% |
| CSC / legal completion | 15% |
BSD/ABSD within 14 days of S&P. Typical span 3–4 years. Interest accrues only on the drawn portion.
BUYER — total cost of acquisition
| Cost | HDB resale | Private resale | New launch |
|---|---|---|---|
| Buyer's Stamp Duty | Yes — full scale | Yes | Yes |
| ABSD | If applicable | If applicable | If applicable |
| Mortgage stamp duty | 0.4% of loan, cap $500 | Same | Same |
| Option + exercise fee | ≤$5,000 total, cash | 1% + 4% = 5% | 5% booking (cash) + 15% |
| Downpayment balance | To 25% (cash/CPF) | To 25% (cash/CPF) | Progressive |
| Minimum cash | 5% | 5% | 5% at booking, cash only |
| COV / valuation gap | Cash only | Cash only | N/A |
| Valuation fee | $120 Request for Value | ~$300–500 bank valuation | Usually N/A |
| Legal / conveyancing | HDB solicitors (tiered, min ~$21.80) or private lawyer $1,300–$3,000 | $2,500–$3,500 | $2,500–$3,500 |
| Registration / caveat fees | Buyer's caveat ~$64.45; lease-in-escrow ~$38.30 | Caveat + title fees | Caveat + title fees |
| HDB resale application admin fee | $40 (1–2rm) / $80 (3rm+) per party | N/A | N/A |
| Agent commission | Negotiable, agreed in writing | Negotiable, agreed in writing | Negotiable, agreed in writing |
| Mortgage insurance | HPS (CPF) or MRTA | MRTA | MRTA |
| Fire / home insurance | Mandatory for HDB | Recommended | Recommended |
| Renovation & furnishing | $30k–$80k+ | $50k–$150k+ | $50k–$150k+ (bare handover) |
| Recurring | Property tax, conservancy charges, loan | Property tax, MCST $300–$800/mth, loan | Same, from TOP |