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Private Property Guide
Buying condos, ECs, and landed property in Singapore
Updated March 2026 ยท Singapore regulations
Types of Private Property
| Type | Description | Who Can Buy |
|---|---|---|
| Private Condominium | Strata-titled apartment in a development with shared facilities (pool, gym, security) | SC, PR, Foreigners (ABSD applies) |
| Executive Condo (EC) | Hybrid public-private. Built by private developers, sold at subsidised prices. Treated as HDB for 5 years, fully private after 10 years. | SC & PR (income ceiling $16K/month); Foreigners after 10 years |
| Landed โ Terrace / Semi-D / Bungalow | Freehold or leasehold land with a house. Includes Good Class Bungalows (GCB) in prime areas. | SC only (PRs and foreigners cannot buy, except Sentosa Cove) |
| Shophouse | Heritage buildings, often conservation-listed. Mixed commercial-residential. | SC, PR, Foreigners (for commercial component) |
Who Can Buy What?
| Buyer | Private Condo | EC (within MOP) | EC (after 10 yrs) | Landed |
|---|---|---|---|---|
| Singapore Citizen | Yes | Yes | Yes | Yes |
| Singapore PR | Yes | No | Yes | No (Sentosa Cove only) |
| Foreigner | Yes (60% ABSD) | No | Yes | No (Sentosa Cove with SLA approval) |
Executive Condo Rules
- Must meet income ceiling of $16,000/month at time of purchase
- Cannot own any other HDB flat or private property at time of EC purchase
- 5-year MOP: Cannot sell on open market or rent entire unit; can only sell to SC/PR after MOP
- After 10 years: Fully privatised โ can be sold to foreigners, no HDB restrictions apply
- CPF housing grants available for EC (up to $30,000)
ECs offer the best value in Singapore's property market โ private condo quality at a discount. But the 5-year lock-in and income ceiling mean they suit long-term owner-occupiers, not short-term investors.
Buying a New Launch (Developer Sale)
- 1
Expression of Interest (EOI)
Register interest with the developer. For popular launches, a ballot determines who gets to choose their unit first. - 2
Book Your Unit
Pay a booking fee (typically 5% of purchase price). Developer issues an OTP. - 3
Sign Sale & Purchase (S&P) Agreement
Within 8 weeks of OTP issuance. Pay a further 15% (minus booking fee) within 8 weeks. - 4
Progressive Payments
Pay in stages as construction milestones are reached: foundation, superstructure, roof, windows, TOP, completion. Total timeframe: 3โ5 years.
Loan Limits & Financial Rules
| Rule | Limit |
|---|---|
| LTV โ no existing housing loan | 75% bank loan; min 5% cash downpayment + 20% CPF/cash |
| LTV โ with 1 existing housing loan | 45% bank loan; min 25% cash downpayment |
| LTV โ with 2 or more existing loans | 35% bank loan; min 25% cash downpayment |
| TDSR (all buyers) | Max 55% of gross monthly income for all debt repayments combined |
| MSR (EC buyers & HDB loans only) | Max 30% of gross monthly income for housing loan |
Current Cooling Measures
- 15-month wait period: SC/PR who sold a private property must wait 15 months before buying an HDB resale flat
- ABSD rates: Significantly raised in April 2023 โ SC 2nd property 20%, foreigners 60% (see ABSD guide)
- Loan tenure limits: Max 30 years for HDB loans; 35 years for private (minus years over age 65)
- Stress test: Banks must ensure borrowers can service the loan at a +3% stress rate
Calculate your costs
Use our free tools to run the numbers for your situation.