Buyer guide
How You Pay for a New Launch While It's Built
A new launch is paid for in stages, not all at once. You pay 5% to book, 15% at the agreement, and the rest as the building goes up, so your loan instalments start small and rise over the years before you move in.
Last updated 28 Oct 2026
The payment schedule, stage by stage
| Stage | Of the price | On a S$1.5M home |
|---|---|---|
| Booking (option to purchase) | 5%, cash | S$75,000 |
| Sale and Purchase Agreement, about 8 weeks later | 15% | S$225,000 |
| Foundation | 10% | S$150,000 |
| Reinforced concrete framework | 10% | S$150,000 |
| Partition walls | 5% | S$75,000 |
| Roofing and ceiling | 5% | S$75,000 |
| Door and window frames, wiring, plumbing | 5% | S$75,000 |
| Car park, roads and drains | 5% | S$75,000 |
| TOP (keys) | 25% | S$375,000 |
| Legal completion | 15% | S$225,000 |
This is the standard schedule for homes under construction; the exact stages are in your Sale and Purchase Agreement. The example leaves out stamp duty and legal fees.
The downpayment
On a first home loan, the bank lends up to 75% of the price. The other 25% is your downpayment, and at least 5% of the price must be cash. On a S$1.5M home that is S$375,000 in all, of which at least S$75,000 is cash and the rest can be cash or CPF.
- The 5% booking fee is paid in cash
- After that, CPF Ordinary Account savings can pay the agreement payment, stamp duties, later stages and monthly instalments, within CPF limits
- The bank loan is drawn down stage by stage, so you only pay interest on what has been drawn
On an EC
An EC bought from the developer follows the same stages. On sites tendered before 8 May 2026, the developer may also offer the Deferred Payment Scheme, which lets part of the payment be put off; ask for its terms at the launch.
Before you book
Work out the cash you need on booking day, the CPF you can use for the next payment eight weeks later, and the stamp duty due around then. Then compare the launches your budget reaches.
Questions buyers ask
How much do I need to book a new launch?
5% of the price, in cash. On a S$1.5M home that is S$75,000.
When do I sign the Sale and Purchase Agreement?
About eight weeks after booking, when you pay the next 15%.
When do monthly loan payments start?
Once the bank starts paying the developer, usually from the foundation stage. They start small and rise as more of the loan is drawn.