Costs and Fees

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

Overview

Buying a flat from HDB

Here is an overview of the payments required if you buy a flat from HDB:

Stage

Payment Required

Mode of Payment

Submitting application

$10

  • Credit Card (Visa/ Master Card)
  • QR code

Booking of flat

Option fee (forms part of the downpayment)

  • NETS

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 already have a flat in mind, you can use our payment plan calculator to estimate the payments required at the various milestones in your flat buying journey.

Buying a DBSS flat or an EC unit from a developer

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

Stage

Payment Required

Mode of Payment

Submitting application

To be determined by developer

To be determined by developer

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

Option fee – 5% of purchase price (forms part of the cash portion of the downpayment)

  • Cash
  • Cashier’s order
  • Cheque

Signing Sale and Purchase Agreement

Balance downpayment

1% to 3% of purchase price as legal fee and stamp duty

  • Cash
  • Cashier’s order
  • Cheque
  • CPF

Collection of keys

If paying mortgage loan instalments using CPF savings:

  • Premium for Home Protection Scheme*
  • Premium for Fire insurance*

The developer will inform you of any other payments to be made.

  • Cash
  • Cashier’s order
  • Cheque
  • CPF

*Not applicable for purchase of an EC unit

 

Details on costs and fees for new flats

 

 

Option fee

You will have to pay an option fee when you book a flat. The amount payable is based on the flat type booked.

Flat Type

Option Fee

4-room and bigger

$2,000

3-room

$1,000

2-room Flexi

$500

The option fee will form part of your downpayment.

Downpayment

You will have to pay the downpayment when you sign the Agreement for Lease. The amount payable will depend on the housing loan taken.

Downpayment for HDB flat

The amount payable will depend on whether you are:

  • Taking an HDB housing loan
  • Not taking any housing loan
  • Taking a housing loan from a Financial Institution (FI)

Type of Loan (where applicable)

Downpayment

(when you sign the Agreement for Lease)

Mode of Payment

Taking an HDB housing loan

10% of purchase price

CPF and/ or cash

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

Not taking any housing loan

Taking a housing loan from an FI

20% of purchase price for loan ceiling of 75%

  • 5% minimum cash payment
  • Remaining 15% using your CPF OA savings and/or cash

Note: As the maximum loan ceiling is 75%, you will also need to pay the balance 5% of the purchase price using your CPF OA savings and/or cash during key collection.

 

20% of purchase price for loan ceiling of 55%

  • 10% minimum cash payment
  • Remaining 10% using your CPF OA savings and/or cash

Note: As the maximum loan ceiling is 55%, you will also need to pay the balance 25% of the purchase price using your CPF OA savings and/or cash during key collection.

 

Please refer to Housing Loans from Financial Institutions for more information on the loan ceilings for purchase of new flats.

CPF housing grant recipients

You will have to pay at least 5% of the purchase price using your CPF savings and/or cash when the CPF housing grant that you qualify for exceeds 95% of the purchase price of the flat. Excess housing grant amount (if any), can be used to pay for any Optional Component Scheme items and the price premiums that single applicants and Singapore Citizen/Singapore Permanent Resident households have to pay, before it is credited into your CPF SA/RA and MA accounts.

Downpayment for DBSS flats

The amount payable will depend on whether you are:

  • Taking an HDB housing loan
  • Not taking any housing loan
  • Taking a housing loan from an FI

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 . If the CPF OA savings is insufficient, the balance will have to be paid in cash.
  • If you can pay the full 20% downpayment using your CPF OA savings, you may request the developer for a reimbursement of the 5% option fee paid earlier in cash.

Not taking any housing loan

Taking a housing loan from an FI

20% of purchase price for loan ceiling of 75%

  • 5% minimum cash payment
  • Remaining 15% using your CPF OA savings and/or cash

Note: As the maximum loan ceiling is 75%, you will also need to pay the balance 5% of the purchase price using CPF OA savings and/or cash during key collection.

 

20% of purchase price for loan ceiling of 55%

  • 10% minimum cash payment
  • Remaining 10% using your CPF OA savings and/or cash

Note: As the maximum loan ceiling is 55%, you will also need to pay the balance 25% of the purchase price using your CPF OA savings and/or cash during key collection.

              

Please refer to Housing Loans from Financial Institutions for more information on the loan ceilings for purchase of new flats.

Stamp duty and legal fees payable when signing Agreement for Lease

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

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

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:

Before 20 Feb 2018

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

On or after 20 Feb 2018

  • First $180,000: 1%
  • Next $180,000: 2%
  • Next $640,000: 3%
  • Remaining amount: 4%

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.

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

Total deposit and fees

$28,784.55

Less:

 

Option fee

$2,000

Total downpayment and fees payable

$26,784.55

 

Stamp duty and legal fees payable during key collection

When you collect the keys to the new flat, you will need to pay a survey fee. You may also need to pay the 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 financial institution)

  • 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

* Applicable if you are taking a housing loan from HDB

Registration fees

There are two types of registration fees:
  • Lease In-Escrow registration fee of $38.30 (fixed amount): To be paid if HDB acts for you in the flat purchase
  • Mortgage In-Escrow registration fee of $38.30 (fixed amount): To be paid if HDB acts for you in the mortgage

Survey fee

The survey fee payable is based on the flat type you are buying. 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

$375

Stamp duty for Deed of Assignment

The stamp duty for the Deed of Assignment is payable if you are taking a housing loan. 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 offered by the CPF Board. You will need to be insured under HPS if you want to use your CPF Ordinary Account savings to pay your monthly loan 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 housing loan from HDB, you will have to buy a fire insurance policy from our appointed insurer.

On the day of your appointment to collect the keys, please produce a valid Certificate of Insurance on the new flat issued by our appointed insurer, FWD Singapore Pte Ltd (FWD). 

For more details about the HDB Fire Insurance, you may call FWD’s enquiry line at 6820-8888, or visit the FWD's website.