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Guide

How Condo Affordability Works in Singapore

TDSR — Total Debt Servicing Ratio (55%)

For all private property loans, MAS requires that your total monthly debt obligations cannot exceed 55% of your gross monthly income. This includes your mortgage, car loan, personal loans, and credit card minimum payments.

Down Payment — 25% Minimum

Bank loans for condos have a maximum LTV of 75% (first property). You need at least 25% down payment, of which 5% must be in cash and the remaining 20% can come from CPF OA.

ABSD — Additional Buyer's Stamp Duty (2026)

ABSD is a major cost for condo buyers:

ABSD is calculated on the purchase price or market value, whichever is higher.

BSD — Buyer's Stamp Duty

In addition to ABSD, all buyers pay BSD: 1% on first $180K, 2% on next $180K, 3% on next $640K, 4% on next $500K, 5% on next $1.5M, 6% above $3M.

FAQ

Frequently Asked Questions

For a $1M condo with a 30-year bank loan at 4% interest and no other debts, you'd need a combined household income of approximately $9,000-$10,000/month to meet the 55% TDSR limit. You'd also need about $50,000 cash + $200,000 in CPF/cash for the 25% down payment, plus ~$24,600 for BSD.
If you're a Singapore Citizen buying your second residential property, 20% ABSD applies. To avoid it: sell your existing property before buying the new one. Alternatively, if you buy the new property first, you can apply for ABSD remission if you sell your existing property within 6 months of the new purchase.
New launches offer progressive payment schemes (lower upfront cash), developer warranties, and modern designs. Resale condos let you see the actual unit, move in immediately, and may have lower PSF in mature estates. New launches typically command a 10-20% premium over nearby resale condos.
Freehold condos don't depreciate from lease decay and may have en-bloc potential. 99-year leasehold condos are typically 15-25% cheaper but lose value as the lease shortens (similar to HDB). For own-stay, freehold is a safer long-term hold. For investment with a shorter horizon, leasehold may offer better rental yield due to lower entry price.