If you are planning for buying a new launch EC in Singapore, which is still under construction, you get a choice of making a normal progressive payment or deferred payment.
Developer will open a project account with any bank or related institution, and the money is set aside for the project.
- Normal progressive payment – Scheduled payment to the developer according to the progress of the development. According to the payment schedule, all the instalments are paid into the project account. When EC buyers are given Temporary Occupation Permit (TOP), 85% of the payment is made. The remaining 15% will be paid around one year from TOP. Find out more >
- Deferred payment scheme – It allows you to put the 20% downpayment first, and you will pay the 65% of the purchase price only after you are given Temporary Occupation Permit (TOP). The remaining 15% will be paid around one year from TOP. Find out more >