How Much is the Downpayment for a Condo in Singapore in 2025?
Understand the full cost breakdown for condo downpayments in Singapore in 2025. Learn about ABSD, BSD, LTV ratios, and cash requirements for Singaporeans, PRs, and foreign buyers.
Purchasing a condominium in Singapore involves significant financial planning. One of the most important components to consider is the initial downpayment. As property prices in Singapore continue to rise and regulatory policies evolve, understanding the full range of costs involved before signing a purchase agreement is essential. This guide explains how factors such as your residency status, the number of properties you already own, stamp duties, and financing options influence the downpayment required for a condo in Singapore in 2025.
What Determines the Condo Downpayment in Singapore?
There are several factors that affect how much upfront payment a buyer must make for a private residential property in Singapore. These include:
-
Additional Buyer’s Stamp Duty (ABSD)
-
Buyer’s Stamp Duty (BSD)
-
Loan-to-Value (LTV) ratio and minimum cash requirements
Each of these components plays a vital role in shaping the financial commitment required.
1. Additional Buyer’s Stamp Duty (ABSD)
ABSD is a property tax that varies based on the buyer's residency status and how many residential properties the buyer already owns. This policy was introduced to manage speculative demand and keep housing affordable for Singaporeans.
ABSD Rates in 2025
| Buyer Profile | ABSD Rate |
|---|---|
| Singapore Citizen (1st property) | 0% |
| Singapore Citizen (2nd property) | 20% |
| Singapore Citizen (3rd and subsequent properties) | 30% |
| Singapore Permanent Resident (1st property) | 5% |
| Singapore Permanent Resident (2nd property) | 30% |
| Singapore Permanent Resident (3rd and subsequent properties) | 35% |
| Foreigner (any property) | 60% |
| Corporate entities and developers | Up to 65% |
As an example, a Permanent Resident purchasing a second property worth S$1 million will be subject to an ABSD of S$300,000.
Buyers from countries with Free Trade Agreements such as the United States, Switzerland, Norway, Liechtenstein, and Iceland may enjoy lower ABSD rates on their first property due to specific treaty arrangements.
2. Buyer’s Stamp Duty (BSD)
BSD is mandatory for all property buyers in Singapore, regardless of citizenship. It is based on either the actual purchase price or the market value of the property, whichever is higher. Discounts or rebates provided by sellers must be documented officially for accurate BSD computation.
BSD Rates for Residential Properties in 2025
| Property Value Bracket | BSD Rate |
|---|---|
| First S$180,000 | 1% |
| Next S$180,000 | 2% |
| Next S$640,000 | 3% |
| Next S$500,000 | 4% |
| Next S$1.5 million | 5% |
| Amount above S$3 million | 6% |
For a S$2 million property, the BSD would be approximately S$69,600.
3. Loan-to-Value (LTV) Ratio and Minimum Cash Requirements
The LTV ratio determines how much you can borrow from a financial institution. The portion not covered by the loan is your downpayment. Part of the downpayment must be made in cash, and the remainder may be paid using CPF savings if applicable.
| Number of Outstanding Home Loans | Maximum LTV | Minimum Cash Downpayment |
|---|---|---|
| No existing loans | Up to 75 percent (or 55 percent if exceeding tenure limit) | 5 percent (or 10 percent if LTV is 55 percent) |
| One existing loan | Up to 45 percent (or 25 percent) | 25 percent |
| Two or more loans | Up to 35 percent (or 15 percent) | 25 percent |
For example, if you are buying a S$2 million condo and qualify for 75 percent LTV, your downpayment is S$500,000. Out of this, S$100,000 must be paid in cash, while the rest can be covered using CPF funds.
Cost Examples by Buyer Profile
These illustrations exclude property valuation fees (approximately S$300 to S$500), legal fees (around S$3,000), and mortgage-related stamp duties.
Singapore Citizens
| Property | ABSD | BSD | LTV | Downpayment | Cash Portion | Total Initial Cost |
|---|---|---|---|---|---|---|
| 1st Home (Loan tenure ≤ 30 years) | 0 percent | S$69,600 | 75 percent | S$500,000 | S$100,000 | S$569,600 |
| 1st Home (Loan tenure > 30 years) | 0 percent | S$69,600 | 55 percent | S$900,000 | S$200,000 | S$969,600 |
| 2nd Home (No existing loan) | 20 percent | S$69,600 | 45 percent | S$1.1 million | S$500,000 | S$1.569 million |
| 2nd Home (Existing loan) | 20 percent | S$69,600 | 25 percent | S$1.5 million | S$500,000 | S$1.969 million |
Singapore Permanent Residents
| Property | ABSD | BSD | LTV | Downpayment | Cash Portion | Total Initial Cost |
|---|---|---|---|---|---|---|
| 1st Home (Loan tenure ≤ 30 years) | 5 percent | S$69,600 | 75 percent | S$500,000 | S$100,000 | S$669,600 |
| 1st Home (Loan tenure > 30 years) | 5 percent | S$69,600 | 55 percent | S$900,000 | S$200,000 | S$1.069 million |
| 2nd Home (No existing loan) | 30 percent | S$69,600 | 45 percent | S$1.1 million | S$500,000 | S$1.769 million |
| 2nd Home (Existing loan) | 30 percent | S$69,600 | 25 percent | S$1.5 million | S$500,000 | S$2.169 million |
Foreign Buyers
CPF cannot be used for foreign buyers, so the entire downpayment must be paid in cash.
| Property | ABSD | BSD | LTV | Downpayment | Total Initial Cost |
|---|---|---|---|---|---|
| 1st Home (Loan tenure ≤ 30 years) | 60 percent | S$69,600 | 75 percent | S$500,000 | S$1.769 million |
| 1st Home (Loan tenure > 30 years) | 60 percent | S$69,600 | 55 percent | S$900,000 | S$2.169 million |
| 2nd Home (No existing loan) | 60 percent | S$69,600 | 45 percent | S$1.1 million | S$2.369 million |
| 2nd Home (Existing loan) | 60 percent | S$69,600 | 25 percent | S$1.5 million | S$2.769 million |
Conclusion: Proper Planning is Essential
Understanding the components of a condo downpayment in Singapore is essential for making informed decisions. ABSD, BSD, and LTV rules have a direct impact on how much cash and CPF savings you need. Depending on your profile as a buyer, the difference in upfront cost can be substantial.
Home buyers can consider settling previous loans to improve their LTV eligibility or choose to buy their first property under more favorable ABSD conditions. Comparing bank loans and evaluating the most cost-effective mortgage structure is also highly recommended.
Always seek advice from a licensed real estate professional or financial advisor to evaluate your specific financial situation before purchasing a condominium.
Algene Toh
Disclaimer: The information presented on BSR2.com is intended for general informational purposes only. It does not constitute legal, financial, investment, or real estate advice and should not be relied upon as such. While every effort has been made to ensure the accuracy, reliability, and completeness of the content at the time of publication, all data is derived from publicly available sources and may be subject to change without notice. BSR2.com makes no representations or warranties of any kind, express or implied, regarding the suitability, timeliness, or accuracy of the information provided for any specific purpose. Users are strongly encouraged to seek independent advice from qualified professionals before making any decisions based on the content found on this website. BSR2.com shall not be held liable for any loss, damage, or consequence, whether direct or indirect, arising from the use of or reliance on the information provided. The content is intended as a general guide and does not take into account individual circumstances.
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