Total Cost of Buying a Condo in Singapore — Every Fee, Line by Line
The listing price is just the start. Here's every dollar you'll actually spend — upfront, at closing, and in year one. No surprises.
Answer: For a $1,500,000 condo (SC, 1st property), expect ~$123,400 cash at closing ($75,000 down + $44,600 BSD + ~$3,800 fees). Add $50,000–$80,000 for renovation. Total first-year cash outlay: ~$173,000–$203,000. On top of that, $300,000 from CPF OA for the remaining down payment. Monthly ongoing: ~$6,100 (mortgage + MCST + property tax).
Complete Cost Breakdown — $1,500,000 Condo (SC, 1st Property)
| Cost Item | Amount | Payable From | When |
|---|---|---|---|
| Down payment — cash (5%) | $75,000 | Cash only | Exercise of OTP |
| Down payment — CPF (20%) | $300,000 | CPF OA | Completion |
| BSD (Buyer's Stamp Duty) | $44,600 | Cash or CPF OA | Within 14 days of OTP |
| ABSD | $0 | — | N/A (1st property SC) |
| Legal fees (conveyancing) | ~$3,000 | Cash | Completion |
| Valuation report | ~$300 | Cash | Before loan approval |
| Mortgage stamp duty | $500 | Cash | Completion |
| Home insurance (fire) | ~$300/yr | Cash | Before loan disbursement |
| Agent commission (buyer) | $0 | — | Seller pays (resale), developer pays (new launch) |
| Total at closing (excl CPF portion) | ~$123,700 | Cash if BSD paid from cash; ~$79,100 if BSD from CPF | |
BSD calculated on progressive brackets. Legal fees vary by firm ($2,500–$4,000). Valuation $250–$500 depending on bank.
BSD Breakdown — $1,500,000
| Bracket | Rate | Taxable Amount | Tax |
|---|---|---|---|
| First $180,000 | 1% | $180,000 | $1,800 |
| $180,001 – $360,000 | 2% | $180,000 | $3,600 |
| $360,001 – $1,000,000 | 3% | $640,000 | $19,200 |
| $1,000,001 – $1,500,000 | 4% | $500,000 | $20,000 |
| Total BSD | $44,600 | ||
BSD rates effective 15 Feb 2023 (IRAS). Can be paid from CPF OA.
What If ABSD Applies?
Additional stamp duty on a $1,500,000 condo by buyer profile
| Profile | ABSD Rate | ABSD Amount | Total Stamp Duty |
|---|---|---|---|
| SC, 1st property | 0% | $0 | $44,600 |
| SC, 2nd property | 20% | $300,000 | $344,600 |
| PR, 1st property | 5% | $75,000 | $119,600 |
| PR, 2nd property | 30% | $450,000 | $494,600 |
| Foreigner | 60% | $900,000 | $944,600 |
ABSD rates effective 27 Apr 2023. ABSD must be paid in cash — cannot use CPF.
Costs After You Get the Keys
| Cost | Typical Amount | Notes |
|---|---|---|
| Renovation (mid-range, 3-bed) | $50,000–$80,000 | Basic reno $30,000–$50,000, full ID: $60,000–$80,000+ |
| Furniture & appliances | $10,000–$30,000 | Sofa, beds, fridge, washer, aircon |
| Moving costs | $500–$2,000 | Mover + disposal of old items |
| Home insurance (contents) | $200–$400/yr | Optional but recommended. Covers theft, water damage, etc. |
Monthly Costs After Purchase
Based on $1,500,000 condo, 75% LTV, 3.5% rate, 25-year loan
| Monthly Cost | Amount | Payable From |
|---|---|---|
| Mortgage repayment | ~$5,630 | Cash + CPF OA |
| MCST / maintenance fees | $300–$600 | Cash only |
| Property tax (monthly equivalent) | ~$150–$250 | Cash (paid annually to IRAS) |
| Home insurance (monthly equivalent) | ~$25–$40 | Cash (paid annually) |
| Total monthly | ~$6,100–$6,520 | Mortgage partially from CPF OA |
Mortgage can be partially paid from CPF OA (up to valuation limit). MCST, property tax, and insurance are cash only.
The Total Picture — Year 1
| Category | Amount |
|---|---|
| Cash at closing (if BSD paid from cash) | ~$123,700 |
| CPF used (20% down payment) | $300,000 |
| Renovation (mid-range) | ~$50,000 |
| Furniture & moving | ~$15,000 |
| Total cash outlay (Year 1) | ~$188,700 |
| Total CPF used (Year 1) | ~$300,000 + mortgage |
If BSD is paid from CPF OA, cash at closing drops to ~$79,100. Total cash outlay becomes ~$144,200.
Quick Comparison Across Price Points
SC, 1st property. Cash at closing + mid-range reno.
| Condo Price | BSD | Cash at Closing | Year 1 Total Cash |
|---|---|---|---|
| $1,000,000 | $24,600 | ~$78,500 | ~$144,000 |
| $1,500,000 | $44,600 | ~$123,700 | ~$188,700 |
| $2,000,000 | $69,600 | ~$174,500 | ~$259,000 |
Get your personalised breakdown
Plug in your actual numbers — income, CPF, target price — and see exactly what you need in cash and CPF.
FAQ
How much cash do I need to buy a $1.5M condo in Singapore?
For a Singapore Citizen buying their first property: $75,000 cash (5% down) + $44,600 BSD + ~$3,000 legal + ~$800 valuation/mortgage stamp = ~$123,400 minimum cash at closing. Add $50,000–$80,000 for renovation after keys. Total first-year cash outlay: ~$173,000–$203,000.
Can BSD be paid from CPF?
Yes. BSD ($44,600 on a $1.5M condo) can be paid from your CPF Ordinary Account. This significantly reduces your cash outlay at closing. However, ABSD (if applicable for 2nd property or PR/foreigner) must be paid in cash.
What is mortgage stamp duty?
Mortgage stamp duty (also called mortgage duty) is a separate stamp duty on your home loan document. It’s calculated at 0.4% of the loan amount, capped at $500. On a $1,125,000 loan (75% of $1.5M), that’s $500. Small but often forgotten in budgeting.
Do I need to pay for a property agent when buying?
For new launch condos, buyers pay zero commission — the developer pays the agent. For resale condos, buyers also typically pay zero commission — the seller pays. However, if you hire a buyer’s agent to represent you, some may charge 1% of the purchase price. Clarify upfront.
How much should I budget for renovation?
For a 3-bedroom condo: basic renovation (painting, flooring, kitchen) runs $30,000–$50,000. A full ID-designed renovation with custom carpentry, built-in wardrobes, and kitchen overhaul: $60,000–$80,000+. New launch condos in bare condition may cost more. Resale condos may need hacking and rewiring.
What are the ongoing monthly costs after buying?
Monthly mortgage (~$5,630 at 3.5% for 25 years on 75% LTV), MCST/maintenance fees ($300–$600/month), property tax (varies by Annual Value, roughly $100–$250/month equivalent), and home insurance ($200–$400/year). Total ongoing: roughly $6,000–$6,500/month for a $1.5M condo.
Related
- Cash Needed for $1.5M Condo — focused cash-only breakdown
- Stamp Duty on $1.5M Condo — BSD + ABSD for all profiles
- Condo Renovation Cost — $30,000–$80,000 detailed breakdown
- Condo Management Fees Breakdown — MCST costs explained
- Salary Needed for $1.5M Condo — income required for this budget
Last updated Feb 2026. BSD rates effective 15 Feb 2023, ABSD rates effective 27 Apr 2023 (IRAS). Legal fees, renovation, and MCST vary by firm and development. This is general information, not financial advice.