Thinking about buying a Condo but unsure where to start? We’ve compiled a comprehensive list of frequently asked questions to guide you through every step – from eligibility and financing to booking and resale. Find the answers you need and make informed decisions with confidence. If you have more questions, we’re just a call away!
A private condominium is fully private housing with no restrictions on eligibility, while an Executive Condominium (EC) is a hybrid public-private housing scheme with initial eligibility rules similar to HDB. ECs typically become fully private after 10 years, whereas private condos are unrestricted from day one.
Any Singapore Citizen, Permanent Resident (PR), or foreigner (subject to ABSD rules) can purchase a private condominium. There are no family nucleus or income ceiling restrictions, unlike HDB flats and ECs.
Yes, foreigners are allowed to purchase private condos in Singapore. However, they must pay Additional Buyer’s Stamp Duty (ABSD) on top of the standard Buyer’s Stamp Duty.
It depends on your residency status and how many properties you already own. Singapore Citizens pay ABSD on their 2nd and subsequent properties, while PRs and foreigners pay ABSD even on their first purchase.
BSD is payable on all property purchases. It is calculated on a tiered basis (1% to 6%) depending on the property price or market value, whichever is higher.
Use the Stamp Duty calculator to check how much loan is your Stamp Duty.
Yes, CPF Ordinary Account (OA) funds can be used for the downpayment, monthly mortgage servicing, and stamp duties, subject to CPF usage limits and property valuation.
Most buyers take a bank loan. The maximum loan amount is subject to the Loan-to-Value (LTV) limit and the Total Debt Servicing Ratio (TDSR) framework. Unlike HDB loans, private condos cannot be financed through HDB loans.
The current LTV limit is up to 75% of the purchase price or property value, whichever is lower, for your first housing loan. It decreases if you already have outstanding housing loans.
The TDSR caps the total monthly debt obligations (including housing loan, car loan, credit cards) at 55% of your gross monthly income, limiting how much you can borrow.
For a bank loan, the minimum downpayment is 25% of the purchase price: at least 5% in cash and the rest can be paid using CPF or cash. Buyers without a loan must pay 100% upfront.
No, government housing grants such as CPF Housing Grants are only available for HDB flats and Executive Condominiums (ECs). Private condo buyers must finance their purchase without grants.
For new launches under construction, buyers follow a progressive payment scheme where payments are made in stages as the building progresses (foundation, structure, completion). This spreads out the cashflow until TOP (Temporary Occupation Permit).
Monthly fees vary depending on unit size and share value, but typically range between $250 – $500 per month. Larger developments with more facilities may charge higher fees.
Yes, private condo owners can rent out their units with no Minimum Occupation Period (MOP). However, short-term rentals (less than 3 months, e.g., Airbnb) are not permitted under URA regulations.
There is no MOP for private condominiums. Owners can rent out or sell their units anytime after purchase, subject to loan lock-in periods or legal completion timelines. There is Seller Stamp Duty (SSD) of 4 years (dated 4 Jul 2025)
Booking a unit typically involves:
Registering your interest with the developer’s sales team.
Obtaining an Expression of Interest (EOI) or cheque submission.
Attending the ballot or preview day.
Selecting your preferred unit and signing the Option to Purchase (OTP).
Freehold condos: Ownership is permanent and does not expire.
Leasehold condos (99 years): Ownership lasts 99 years from the start of the lease. Freehold units generally command higher prices and stronger resale demand.
Legal fees include conveyancing charges, Buyer’s Stamp Duty (BSD), ABSD (if applicable), and miscellaneous fees for registration. These usually range between $2,500 – $4,000.
To resell, you will need to engage a lawyer and property agent. There is no MOP for private condos, so resale can take place anytime. However, Seller’s Stamp Duty (SSD) applies if sold within 4 years of purchase (policy dated: 4 July 2025).
The East Coast is one of Singapore’s most desirable residential districts, known for its seaside lifestyle, connectivity, and established amenities. With the new Bayshore MRT station and the URA Bayshore Master Plan, the precinct will be transformed into a vibrant waterfront district, making Bayshore Condo a prime investment choice.
For full project details, please visit the Official Bayshore Condo Page
