SgPropertyInvesting guide
How much cash do you need to buy a condo in Singapore?
Three things decide the cash you need up front: the minimum cash downpayment set by MAS, Buyer's Stamp Duty (BSD) from IRAS, and ABSD if it applies to you. Here's how each one works, with a worked example.
Last checked against official sources: 15 October 2026 (IRAS, MAS). General information only, not financial, legal or tax advice.
1. Downpayment: how much must be cash
MAS caps how much a bank can lend you (the loan-to-value, or LTV, limit) and sets a minimum that has to be paid in cash. The rest of the downpayment can come from cash or CPF. For options granted on or after 6 July 2018:
| Housing loans you already have | Max LTV | Minimum cash |
|---|---|---|
| None | 75% (or 55%) | 5% (10% at 55% LTV) |
| 1 | 45% (or 25%) | 25% |
| 2 or more | 35% (or 15%) | 25% |
The lower LTV applies if the loan tenure is over 30 years (25 years for HDB flats), or if the loan runs past age 65. Source: MAS, Loan Tenure and Loan-to-Value Limits.
So a first-time buyer with no outstanding loan, on a tenure within those limits, needs at least 5% in cash and up to 20% more in cash or CPF. Someone who still has a home loan needs 25% in cash, which is the biggest single jump in cash requirements.
2. Buyer's Stamp Duty
Every buyer pays BSD, whatever their nationality and however many homes they own. For residential property bought on or after 15 February 2023, it's charged on the higher of price or market value:
| Portion of price | Rate |
|---|---|
| First S$180,000 | 1% |
| Next S$180,000 | 2% |
| Next S$640,000 | 3% |
| Next S$500,000 | 4% |
| Next S$1,500,000 | 5% |
| Remaining amount | 6% |
BSD is due within 14 days of signing. CPF can be used for it subject to CPF Board's rules, but the money has to be there by the deadline. Source: IRAS, Buyer's Stamp Duty.
3. ABSD, if it applies
A Singapore Citizen buying their first home pays no ABSD. A PR buying their first pays 5%, a citizen buying a second pays 20%, and foreigners pay 60%. The full table and the refund rules are in our ABSD guide (source: IRAS, ABSD). ABSD is often the largest cash item for upgraders who haven't sold yet.
Worked example
A Singapore Citizen with no property and no housing loan buys a S$1,500,000 condo, on a loan tenure within 30 years and ending before age 65.
- Minimum cash downpayment: 5% × S$1,500,000 = S$75,000
- Rest of downpayment (cash or CPF): 20% = S$300,000
- BSD: S$1,800 + S$3,600 + S$19,200 + S$20,000 = S$44,600
- ABSD: S$0 (first property, citizen)
That's S$75,000 that must be cash, plus S$344,600 in cash or CPF (the other 20% and the BSD), before legal fees and any other costs. The bank lends the remaining 75%, S$1,125,000, if you pass its checks and the TDSR limit.
Change one input and the picture shifts a lot. If the same buyer still had a housing loan outstanding, the minimum cash would be 25%, or S$375,000, and ABSD of 20% (S$300,000) would apply as a second property.
What this doesn't cover
Legal fees, valuation, and renovation are extra and vary by provider, so we haven't put numbers on them here. Get quotes. Your bank's own approval and the TDSR limit also decide whether you can actually borrow 75%.
Run your own numbers
Our free calculator works out BSD and ABSD from the current IRAS rates for your price and buyer profile.
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