Payment Scheme

Please see the attached below for the payment scheme that is used for the purchase of residential properties in Singapore. The Payment Scheme is commonly known as the Progressive Payment Scheme and is readily used by the local banks and regulated by Monetary Authority of Singapore (MAS).

Progressive Payment Schedule
StagePercentage Payment of Purchase Price
Booking Fee5%
Upon signing Agreement / within 8 weeks immediately after date of Option20%
Foundation work5%
Reinforced concrete framework10%
Partition walls5%
Roofing5%
Door sub-frames / door frames, window frames, electrical wiring (without fittings), internal plastering and plumbing5%
Car park, roads and drains serving the housing project5%
Building, roads and drainage and sewerage works in the housing estate, connection of water, electricity and gas supplies

(At this stage the Temporary Occupation Permit is typically released, meaning you can pick up your keys and move in)

25%
Final Payment Date and/or Completion (might be staggered further depending on when the Certificate of Statutory Completion is issued)15%
[sc name="bukit-batok-ec"][/sc]