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Costs and Fees

Here are the payments you need to make when you buy a new HDB flat, Design, Build and Sell Scheme (DBSS) flat, or Executive Condominium (EC).

Overview

Buying a flat from HDB

Here is an overview of the costs payable if you buy a flat from HDB:

Stage

Payment Due

Mode of Payment

Submitting your application

$10

Credit Card

Booking of flat

Option fee

  • NETS
  • Cashier’s order

Signing of Agreement for Lease

  • Stamp duty and legal fees
  • Downpayment
  • Cashier’s Order
  • CPF

Collection of keys

  • Stamp duty and legal fees
  • Home Protection Scheme
  • Fire insurance
  • Balance of the purchase price
  • Cashier’s Order
  • CPF

If you are taking a housing loan from HDB and engaging us to act on your behalf for the purchase of a flat, you can use our Sales Financial Plan to estimate the amount payable for your flat purchase.

Buying a DBSS flat or EC from a developer

Here is an overview of the costs payable if you buy a DBSS flat or EC:

Stage

Payment Due

Mode of Payment

Submitting your application

Determined by developer

Determined by developer

Booking of flat and signing the Option to Purchase (OTP)

Option fee – 5% of purchase price (goes to the cash portion of the downpayment)

  • Cash
  • Cashier’s order
  • Cheque

Signing Sale and Purchase Agreement

Balance downpayment

1% to 3% legal fee and stamp duty

  • Cash
  • Cashier’s order
  • Cheque
  • CPF

Collection of keys

If paying instalments using CPF savings:

  • Home Protection Scheme*
  • Fire insurance*

The developer will inform you of any other payments to make.

  • Cash
  • Cashier’s order
  • Cheque
  • CPF

*Not applicable for ECs

If you are taking a housing loan from HDB and engaging us to act on your behalf for the purchase of a DBSS flat, you can use our DBSS Financial Plan to estimate the amount payable for your flat purchase.

Details on costs and fees for new flats

Option fee

You pay the option fee when you book your flat. The amount is based on the flat type that is booked.

Flat Type

Option Fee

4/ 5-room and Executive Flat

$2,000

3-room

$1,000

2-room Flexi flat

$500

The option fee forms part of your downpayment, and as such: 

Taking an HDB housing loan

Option fee is reimbursed in cash if there is enough money in your CPF Ordinary Account (OA) to pay the downpayment. Otherwise, the option fee goes towards the cash portion of the downpayment.

Not taking any housing loan

Taking a bank loan

Option fee goes towards paying the 5% or 10% cash portion of the downpayment.

 

Downpayment

You pay the downpayment when you sign the Agreement for Lease. The amount you pay depends on whether you are taking a loan.

Downpayment for HDB flat

The amount to pay depends on whether you are:

  • Taking an HDB housing loan
  • Not taking any housing loan
  • Taking a bank loan

Type of Loan (If Applicable)

Downpayment

Mode of Payment

Taking an HDB housing loan

10% of the purchase price

CPF and/ or cash

  • You can use your CPF Ordinary Account (OA) savings to make the downpayment in full. If the CPF OA amount is insufficient, the balance is to be paid in cash.

Not taking any housing loan

Taking a bank loan

20% of purchase price for loan ceiling of 80%

  • 5% in cash
  • Balance using CPF OA savings

40% of purchase price for loan ceiling of 60%

  • 10% in cash
  • Balance using CPF OA savings

Remaining amount for loan ceiling of 50% or lower

  • 20% in cash
  • Note that you will also need to pay another 5% in cash during the key collection
  • Balance using CPF OA savings

Please refer to housing loans from banks for more information on the loan ceilings for new flats.

AHG/ SHG Recipients

You will have to pay at least 5% of the purchase price using your CPF and/or cash when the total housing grants (i.e. AHG and SHG) that you qualify exceed 95% of the purchase price of the flat.  Excess housing grant, if any, can be used to pay for OCS items and premiums that singles and Singapore Citizen/Singapore Permanent Resident households have to pay, before being credited into your CPF SA/RA and MA accounts.

 

Downpayment for DBSS flats

The amount to pay depends on whether you are:

  • Taking an HDB housing loan
  • Not taking any housing loan
  • Taking a bank loan

Type of Loan (If Applicable)

Downpayment

Mode of Payment

Taking an HDB housing loan

20% of the purchase price

CPF and/ or cash

  • You can use your CPF Ordinary Account (OA) savings to make the downpayment in full. If the CPF OA amount is insufficient, the balance is to be paid in cash.
  • If you pay the 20% downpayment using your CPF OA savings, you may request for the 5% option fee earlier paid in cash to be reimbursed.

Not taking any housing loan

Taking a bank loan

20% of purchase price for loan ceiling of 80%

5% in cash

Balance using CPF OA savings or cash

40% of purchase price for loan ceiling of 60%

  • 10% in cash
  • Balance using CPF OA savings or cash

Remaining amount for loan ceiling of 50% or lower

  • 25% in cash
  • Balance using CPF OA savings or cash

Please refer to housing loans from banks for more information on the loan ceilings for new flats.

Downpayment for ECs

You pay the downpayment when you sign the Agreement for Lease. If you are taking a housing loan from a bank, the downpayment amount is as follows:

Downpayment

Mode of Payment

20% of purchase price for loan ceiling of 80%

  • 5% in cash
  • Balance using CPF Ordinary Account (OA) savings or cash

40% of purchase price for loan ceiling of 60%

  • 10% in cash
  • Balance using CPF OA savings or cash

Remaining amount for loan ceiling of 50% or lower

  • 25% in cash
  • Balance using CPF OA savings or cash

Please refer to housing loans from banks for more information on the loan ceilings for new ECs.

Stamp duty and legal fees for Agreement for Lease

When you sign the Agreement for Lease, the payments you may need to make include the stamp duty on the Agreement for Lease, conveyancing fee(s), and the caveat registration fee.

Overview

Type of Fee

HDB’s Role

HDB acts for you in the purchase and mortgage

HDB acts for you in the purchase only

HDB acts for you in the mortgage only

HDB is not acting for you

Stamp duty on Agreement for Lease

Y

Y

N

N

Conveyancing fee for sale of flat by HDB

Y

Y

N

Y

Conveyancing fee for acting for buyer in the mortgage (subject to GST

Y

N

Y

N

Caveat registration fee of $64.45 (inclusive of GST)

Y

Y

N

N

Calculation of stamp duty for Agreement for Lease

Stamp duty is based on the selling price of the flat. The amount payable is calculated as such:

  • First $180,000: 1%
  • Next $180,000: 2%
  • Remaining amount: 3%

You can also use the Stamp Duty Calculator from the Inland Revenue Authority of Singapore website to calculate the stamp duty payable for your flat purchase.

If applicable, you will subsequently need to pay an annual stamp duty on your Service & Conservancy Charges (S&CC) for the year. This is 0.40% of 4 times the S&CC amount for the year. This annual stamp duty is applicable if S&CC for the year plus annual rent of $1 is an amount exceeding $1,000. 

Calculation of conveyancing fee

The fees that you may need to pay are:

  • Conveyancing fee for sale of flat by HDB based on the purchase price of the flat
  • Conveyancing fee for acting for buyer in the mortgage based on the mortgage loan of the flat

Conveyancing fees are calculated as such:

  • First $30,000: $0.90 per $1,000
  • Next $30,000: $0.72 per $1,000
  • Remaining Amount: $0.60 per $1,000

Please note that the minimum conveyancing fee chargeable is $20 and that conveyancing fees are subject to GST.

Caveat registration fee

The caveat registration fee of $64.45 (inclusive of GST) is payable when you sign the Agreement for Lease.

With it, a caveat is lodged with the Singapore Land Authority to protect your interest in the flat. This is done by giving notice of your interest pending the Lease registration.

Sample calculation

The following is an example of the amount payable for a 4-room flat when signing the Agreement for Lease if you take an HDB loan and engage HDB to act for you for the purchase of your flat.

  • Purchase Price of Flat: $253,400
  • Annual Service & Conservancy Charges: $750

Downpayment based on 10% of the purchase price

$25,340

Add:

 

Stamp Duty on Agreement for Lease

$3,268

Conveyancing fee for sale of flat

$176.55

Caveat registration fee

$64.45

Total deposit and fees

$28,849

Less:

 

Option fee

$2,000

Total downpayment and fees payable

$26,849

 

Stamp duty and legal fees due during key collection

When you collect your keys, you will need to pay a survey fee. You may also need to pay registration fees and stamp duty on the Deed of Assignment.

Payments you need to make

Type of Fee

HDB’s Role

HDB acts for you in the purchase and mortgage*

HDB acts for you in the purchase only

HDB acts for you in the mortgage only

HDB is not acting for you

Survey fee

Y

Y

Y

Y

Lease In-Escrow registration fee

Y

Y

N

N

Mortgagee solicitors’ bill (Only payable if you are taking a housing loan from a bank)

  • Mortgagee’s legal cost and disbursements
  • Mortgage In-Escrow Registration Fee
  • Stamp Duty on Deed of Assignment
  • Mortgagee’s Caveat Fee

Y

N

Y

N

* Applies if you take a housing loan from HDB

Registration fees

There are 2 types of registration fees:
  • Lease In-Escrow registration fee of $38.30 (fixed amount): Paid if HDB acts for you in the flat purchase
  • Mortgage In-Escrow registration fee of $38.30 (fixed amount): Paid if you take a housing loan from a bank

Survey fee

The survey fee amount is based on your flat type. Please note that the survey fee is subject to GST.

Flat Type

Survey Fee (Before GST)

1-Room

$150

2-Room

$150

3-Room

$212.50

4-Room

$275

5-Room

$325

Executive Flat

$375

Calculation of stamp duty on Deed of Assignment

The stamp duty on Deed of Assignment is payable if you are taking a housing loan from a bank. It is calculated at 0.4% of the loan amount, subject to a maximum of $500.

Home Protection Scheme (HPS)

HPS is a mortgage-reducing insurance scheme by the CPF Board. You need to be insured under HPS if you want to use your CPF Ordinary Account savings to pay your monthly instalments.

In the event of permanent disability or death before the insured person turns 65, the CPF Board will pay the outstanding housing loan amount, based on the amount insured under HPS.

The premium is paid annually using your CPF savings or cash. The premium amount depends on factors such as your declared percentage of coverage, loan amount, age, and gender.

For more information on HPS, you can get an HPS booklet from HDB Hub, call the CPF Board at 1800-227-1188, or visit the CPF Board website. The CPF Board website also has a Home Protection Scheme Premium Calculator you can use to estimate the HPS premium amount.

Fire insurance

If you are taking a loan from HDB, you will have to take out a fire insurance policy from Etiqa Insurance, the Insurance Agent appointed by HDB.

On the day of your appointment to collect the keys, please produce a valid Certificate of Insurance on the new flat issued by Etiqa Insurance. 

For more details about the HDB Fire Insurance, you may call Etiqa’s enquiry line at 6331-9253, or visit the Etiqa website.