What a Singapore property is worth, from recent comparable sales — with the working shown.
Buying or selling a condo or EC without an agent
Checked against official sources on 18 October 2026. This is general information, not legal or financial advice: rules change, so check the linked source before you sign anything.
There is no HDB-style portal for private homes, so the sale runs on a contract between the two sides and their lawyers. The Council for Estate Agencies (CEA) publishes a standard contract and checklists for people acting on their own.
The contract
- CEA's standard Option to Purchase (download) follows the Law Society's Conditions of Sale 2020, with blanks for the price, the option money, how long the option stays open (two weeks unless you fill in another date), the further sum on exercise and the completion date. It is accepted by delivering it signed to the seller's lawyers.
- The amounts are whatever you agree. Commonly the option money is 1% of the price and the further sum on exercise brings the deposit to 5%; these are market practice, not rules.
- If the buyer does not exercise in time, the option lapses and the seller keeps the option money. Once exercised, it is a binding contract.
- The deposit can be held by the seller's lawyers as stakeholder, or by the Singapore Academy of Law, until completion. A cheque to a law firm's conveyancing account carries the suffix "-CVY".
If you are selling
- Checks from CEA's seller checklist: the buyer's name and identity card or passport, any property tax or stamp duty you owe, your mortgage and how it will be redeemed, management (MCST) charges owing, and the buyer's bankruptcy status. CEA also suggests getting the approved plans from BCA to check the home as built matches them.
- Your CPF refund. The CPF you used, plus the interest it would have earned, goes back to your CPF account from the sale. If the price will not cover the loan and the full refund (a "negative sale"), you may have to pay the option money into your CPF account too; check before you grant the option.
- Seller's Stamp Duty applies if you sell within the holding period:
| Held for | Bought from 4 Jul 2025 | Bought 11 Mar 2017 to 3 Jul 2025 |
|---|---|---|
| Up to 1 year | 16% | 12% |
| Over 1, up to 2 years | 12% | 8% |
| Over 2, up to 3 years | 8% | 4% |
| Over 3, up to 4 years | 4% | none |
| Over 4 years | none | none |
- An EC can be sold only after its five-year minimum occupation period. Until ten years from its completion, it can be sold only to Singapore citizens and permanent residents; after that, to anyone.
If you are buying
- Checks from CEA's buyer checklist, before paying for the option: the seller's identity and that they own the home; any caveats lodged against it (SLA land titles search); that it is approved for residential use; no unauthorised additions or alterations (compare the approved plans from BCA); property tax unpaid by the seller; MCST charges; and the seller's bankruptcy status. If someone signs for the seller under a power of attorney, check what it allows.
- The loan. Get the bank's in-principle approval before the option. For a loan of up to 30 years that ends by age 65, a first home loan can be up to 75% of the price, with at least 5% paid in cash; a second, 45%; a third or more, 35%, each with at least 25% in cash. Longer loans have lower limits. All debt repayments are capped at 55% of income. If the bank values the home below the price, it lends on the lower figure and the difference is paid in cash.
- Your lawyer usually lodges a caveat with the Singapore Land Authority after you exercise the option, to record your claim on the home until completion.
- Stamp duty is due within 14 days of exercising the option:
| Part of the price | Rate |
|---|---|
| First $180,000 | 1% |
| Next $180,000 | 2% |
| Next $640,000 | 3% |
| Next $500,000 | 4% |
| Next $1,500,000 | 5% |
| Above $3,000,000 | 6% |
For example, on $600,000: $1,800 + $3,600 + $7,200 = $12,600.
| Buyer | 1st home | 2nd | 3rd and more |
|---|---|---|---|
| Singapore citizen | 0% | 20% | 30% |
| Permanent resident | 5% | 30% | 35% |
| Foreigner | 60% | 60% | 60% |
Counted by the homes the buyer already owns, in Singapore, wholly or in part; buyers of different profiles buying together pay the highest rate that applies to any of them.
A married couple who already own a home can, in some cases, have the Additional Buyer's Stamp Duty on their next one refunded if they sell the first within six months; IRAS sets the conditions.
- Buying an EC that is between five and ten years from completion: only Singapore citizens and permanent residents can buy it.
- Landed homes have further rules, including approval for most foreign buyers; this site does not cover landed property.
Sources
- CEA: Buying or selling a private residential property on your own
- CEA: standard Option to Purchase and checklists for buyers and sellers
- SLA: Land titles search (ownership and caveats)
- MAS: Macroprudential policies (loan limits, TDSR, MSR)
- IRAS: Buyer's Stamp Duty
- IRAS: Additional Buyer's Stamp Duty
- IRAS: Seller's Stamp Duty for residential property
- MAS: Seller's Stamp Duty holding period and rates (Jul 2025)
- IRAS: Basics of stamp duty for property (when to pay)
- CPF Board: CPF refund when selling or transferring property
- Executive Condominium Housing Scheme Act 1996
Buying or selling a home without an agent · Selling an HDB flat without an agent · Buying an HDB resale flat without an agent