New Condos for Sale - New Condo Developments You Can Afford

Pay progressively as the developer builds your condominium. New Condo Developments give you an edge if you are interested to invest in Singapore's Real Estate Industry. Find Property Singapore can clear your doubts. Send your query and be answered with the detailed calculations of the new condos for sale.

 

New Launch Condos in District 15
East Coast, Marine Parade, Katong Area
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New Condos for Sale - Standard Payment Scheme

New condos for sale adopt the Standard Payment Scheme. With reference from the Urban Redevelopment Authority (URA), the time for payment and the amount of purchase price payable under the standard payment scheme is shown in the following:

  • Stage 1 - Upon the grant of Option to Purchase - 5% - 10% of purchase price(booking fee)
  • Stage 2 - Upon signing of the Sale & Purchase Agreement or within 8 weeks from the Option date - 20% of purchase price less booking fee
  • Stage 3 - Completion of foundation work - 10% of purchase price
  • Stage 4 - Completion of reinforced concrete framework of unit - 10% of purchase price
  • Stage 5 - Completion of partition walls of unit - 5% of purchase price
  • Stage 6 - Completion of roofing/ceiling of unit - 5% of purchase price
  • Stage 7 - Completion of door sub-frames/ door frames, window frames, electrical wiring, internal plastering and plumbing of unit - 5% of purchase price
  • Stage 8 - Completion of car park, roads and drains serving the housing project - 5% of purchase price
  • Stage 9 - Temporary Occupation Permit or Certificate of Statutory Completion - 25% of purchase price
  • Stage 10 - On completion date - 15% of purchase price

 

 

New Condos for Sale - Basic Checks and Information

With reference from the Urban Redevelopment Authority (URA), you should familiarise yourself with some of the existing Government policies which may affect your purchase:

  • If you own a HDB flat, DBSS flat or Executive Condominium, you have to fulfill the minimum occupation period before you can purchase private residential properties
  • You should buy within your financial means. Take note that there are limits on the use of CPF monies for property purchase. There are also rules on the amount of loans that can be borrowed to finance property purchase
  • Besides the price of the property, other fees such as stamp duty and property tax are payable
  • If you are not a Singapore citizen, you have to obtain approval from the Controller of Residential Property before you may buy landed houses (including strata landed houses)
  • Understand the role of a real estate salesperson - you don't have to pay commission to real estate salesperson if you are purchasing a brand new unit from the new condos development
  • Read through the Option to Purchase and Sale and Purchase Agreement carefully before signing the documents or placing a booking fee. Consult a lawyer on your rights and obligations before signing any document
  • There are guidelines regulating the collection of “blank” cheques by a real estate salesperson