How Much Cash Do You Really Need to Buy a Condo?
The purchase price is only part of the story. Between the mandatory cash downpayment and stamp duties, here's what you actually need to have ready in cash before you can complete a purchase.
When people budget for a condo purchase, they often think in terms of the downpayment alone — but the cash outlay upfront is usually higher than that, because Buyer's Stamp Duty (BSD) and, for many buyers, Additional Buyer's Stamp Duty (ABSD) are due on top of it, and neither can be financed by your bank loan.
Some of these costs can be paid using your CPF Ordinary Account savings, but a portion — the minimum cash downpayment — must be paid in cash, no exceptions. Below is a breakdown of each component, followed by a calculator so you can work out your own number.
What Makes Up the Cash You Need
Minimum Cash Downpayment
At least 5% of the purchase price must be paid in cash if you're taking a bank loan at the maximum 75% Loan-to-Value ratio. This cannot be paid via CPF.
Remaining Downpayment
A further 20% of the purchase price (bringing the total downpayment to 25%) can be paid using cash, CPF Ordinary Account savings, or a mix of both.
Buyer's Stamp Duty (BSD)
Payable on every property purchase, computed on a progressive scale based on the purchase price. Can be paid via cash or CPF.
Additional Buyer's Stamp Duty (ABSD)
Applies depending on your residency profile and how many residential properties you already own. Can be paid via cash or CPF, subject to CPF withdrawal limits.
Bank Loan
The remaining up to 75% of the purchase price, financed through your mortgage — not part of your upfront cash outlay.
Legal & Other Fees
Conveyancing legal fees, valuation fees and other miscellaneous costs are separate from the figures below — budget for these on top.
Cash Required Calculator
Enter your details to see the minimum cash downpayment plus BSD and ABSD combined — the total cash you'll need on hand.
Estimate only. Based on IRAS's Buyer's Stamp Duty schedule (effective 15 February 2023), Additional Buyer's Stamp Duty rates (effective 27 April 2023), and MAS's 75% Loan-to-Value / 5% minimum cash downpayment rule for a first housing loan, all current as of 2026. Stamp duty is computed on the higher of the purchase price or the property's market value, and joint purchases are assessed at the highest-ABSD buyer's profile among the co-purchasers. This does not account for spousal remission, decoupling, remission for selling an existing property within the stipulated period, Free Trade Agreement concessions, or developer-specific ABSD rules. Your actual LTV limit, minimum cash requirement, and ABSD liability depend on factors such as existing loans, loan tenure, and the number of borrowers. For more comprehensive computation, refer to the BSD/ABSD Calculator.
This is not financial, tax, or legal advice — always confirm your exact figures with your bank, IRAS, or a qualified professional before committing to a purchase.
A $2,000,000 Condo, Bought by a Singapore Citizen (1st Property)
| Component | Amount |
|---|---|
| Minimum Cash Downpayment (5% of $2,000,000) | $100,000 |
| Buyer's Stamp Duty (BSD) | $69,600 |
| Additional Buyer's Stamp Duty (ABSD at 0% — 1st property, SC) | $0 |
| Total Cash Required | $169,600 |
For comparison, a Foreigner buying the same $2,000,000 condo as a 1st property would pay ABSD at 60% — an additional $1,200,000 — bringing their total cash required (assuming BSD and ABSD paid in cash) to $1,369,600.
Want to know your exact number?
Every buyer's situation is different — existing loans, CPF balances and property count all affect what you'll actually need. Let's work through your figures together.