How much downpayment for new launch condo?
25%, assuming that this will be your one and only home loan, and that you can get a loan for 75% of your purchase price.
*Assuming condo purchase price is $1,000,000.
How much cash do I need for new launch condo?
There are 2 components that require cash:
- Downpayment
- Stamp Duty (BSD + ABSD)
Assuming condo purchase price of $1,000,000, you will need at least $74,600 in cash on hand to cover both Downpayment and Stamp Duty.
Note that, the more existing properties you have, the higher the ABSD you need to pay (up to 30% for Singapore Citizen).
Downpayment
BSD + ABSD (own 0 property before buying)
Assuming you own 0 property when buying this condo, Singapore Citizen only need to pay BSD and does not need to pay ABSD.
BSD + ABSD (own 1 property before buying)
Assuming you own 1 property when buying this condo, Singapore Citizen will need to pay 20% ABSD on top of BSD.
BSD + ABSD (own 2 or more properties before buying)
Assuming you own 2 or more properties when buying this condo, Singapore Citizen will need to pay 30% ABSD on top of BSD.