With over 30 residential new launches in Singapore's 2026–2027 pipeline, the temptation to rush into a decision at a glamorous sales gallery — surrounded by scale models, champagne, and urgency — is real. Most costly property mistakes happen not because buyers chose the wrong development, but because they did not prepare before they walked through the door. This checklist is what I walk every client through before they commit to any purchase.
The 10-step pre-purchase checklist
Confirm your eligibility and ABSD profile
Before anything else, know exactly what stamp duty you will pay. Singapore Citizens buying a first home pay 0% ABSD. PRs pay 5% on a first purchase. Foreigners pay 60% regardless of property count. FTA nationals (US, Iceland, Liechtenstein, Norway, Switzerland) are treated as Singapore Citizens. Confirm your status and do the math before you fall in love with a unit.
Get an In-Principle Approval (IPA) from your bank
An IPA from your bank confirms your maximum loan quantum before you sign anything. Without it, you risk selecting a unit you cannot finance. IPAs take 1–3 business days and are free. The Total Debt Servicing Ratio (TDSR) cap is 55% of gross monthly income — factor this into your calculation before visiting the sales gallery.
Calculate your full all-in cost
Purchase price is just the start. Add BSD (approximately 3–4% for most price points), ABSD (if applicable), legal fees ($3,000–$5,000), stamp duty for mortgage ($500–$1,500), and any renovation costs post-TOP. A realistic all-in budget prevents the common mistake of being able to afford the unit but not the transaction costs.
Research the developer's track record
Visit a completed project by the same developer. Look at the quality of finishes, the maintenance of common areas, and speak to existing residents if possible. Check online forums and property groups for owner feedback. A well-known developer brand does not guarantee a perfect build — but it does correlate with responsiveness during the defects liability period.
Study recent transacted prices in the sub-market
Check URA's Realis platform or EdgeProp for recent resale and new launch transactions within a 500m radius. If the new launch is pricing at a 30% premium to recent resales in the same area with no compelling differentiator, that premium needs to be justified. Your exit price when you eventually sell will be anchored by the broader sub-market, not just your purchase price.
Assess the unit stack carefully
At a new launch, unit selection happens fast. Know in advance which stack orientations you prefer (morning sun vs afternoon), which floors offer the best value-to-price ratio, and which units face noisy roads, MRT tracks, or future development plots. Ask your agent for the site plan and cross-reference with URA Master Plan to check what can be built on adjacent plots.
Understand the progressive payment schedule
New launch payments follow the Normal Progressive Payment Scheme: 5% booking fee, 15% on OTP exercise, then progressive tranches tied to construction milestones. Understand when each payment is due and ensure your cash flow can support it. Delays in construction can shift your payment schedule — account for this in your planning.
Check the estimated TOP date and your personal timeline
Most new launches are 3–5 years from purchase to TOP (Temporary Occupation Permit). If you need to move in within 2 years, a new launch is not the right vehicle — consider a recently completed or resale unit instead. Conversely, if you have a long horizon, buying pre-TOP locks in the current market price with a deferred payment structure.
Engage a conveyancing lawyer before signing anything
Your conveyancing lawyer reviews the Sale and Purchase Agreement and protects your interests. Do not use the developer's recommended lawyer — engage your own. Fees are standardised and relatively modest (typically $2,500–$4,000 for new launches). Your lawyer will also handle the ABSD remission application if you are eligible.
Work with a buyer's agent who knows the project inside out
Developers pay agent commissions — your agent's fee does not come from you. A good buyer's agent with early access to floor plans, stack analyses, and developer briefings gives you a significant information advantage over buyers who walk in cold. Early preview registration through an agent typically means priority unit selection before general public release.
The most common mistake I see: buyers who fall in love with the showflat, book a unit the same day, and only then discover their ABSD profile, financing constraints, or resale market comparables. The checklist above takes less than a week to complete and could save you hundreds of thousands of dollars.
Frequently asked questions
What is the process for buying a new launch condo in Singapore?
Register interest → attend preview → select unit and pay 5% booking fee → sign Option to Purchase within 2 weeks → exercise OTP within 3 weeks → pay BSD and ABSD within 14 days → sign S&P Agreement → progressive payments as construction milestones are reached.
Can I cancel after signing the OTP?
Yes, but you will forfeit 25% of the booking fee (i.e. 25% of the 5% deposit, or 1.25% of the purchase price). If you have already exercised the OTP and signed the S&P, cancellation penalties are more severe. This is why pre-purchase due diligence matters — do not sign until you are certain.
Is it better to buy at launch or wait for later phases?
Generally, early phases offer the best pricing as developers release units progressively and adjust prices upward as take-up improves. However, early buyers take on more uncertainty about the final product. Joining a preview waitlist through an agent gives you the best of both — access to early phase pricing with more information than a cold walk-in.
Ready to buy smart in 2026?
I walk every client through this checklist before any purchase. No pressure, no rush — just clear, informed guidance from someone who knows Singapore's new launch market inside out.
Chat with Andee on WhatsAppThis article is for general informational purposes only and does not constitute financial, legal, or investment advice. Stamp duty rates and regulations are subject to change. Andee Ching, CEA No. R071050B, Huttons Asia Pte Ltd, Licence No. L3008899K.