Guide
How Much Cash Do You Need to Buy a Condo in Singapore?
More than you think. The purchase price is just the start — stamp duty, legal fees, and renovation add up fast. Here's the full picture for 2026.
Quick answer: For a $1M condo as a first-time Singapore Citizen buyer, expect approximately $128,000 in total cash — $50,000 (5% cash down), $24,600 (stamp duty), $3,500 (legal fees), and ~$50,000 (renovation). For a $1.5M condo, the all-in cash outlay rises to about $184,000. If upgrading from HDB, your sale proceeds need to cover this after CPF clawback.
Every dollar you need, broken down
1. Cash down payment — 5% minimum
For your first property, you need 25% down total — but only 5% must be cash. The other 20% can come from CPF OA. On a $1M condo, that's $50,000 cash plus $200,000 from CPF.
If you're upgrading from HDB, the cash from your sale can cover this. But remember: CPF clawback eats into your sale proceeds first.
2. Buyer's Stamp Duty (BSD)
BSD is progressive — 1% to 6% in brackets. It adds up fast on higher-priced condos.
| Condo Price | BSD | % of Price |
|---|---|---|
| $800K | $18,600 | 2.3% |
| $1.0M | $24,600 | 2.5% |
| $1.2M | $32,600 | 2.7% |
| $1.5M | $44,600 | 3.0% |
| $2.0M | $69,600 | 3.5% |
Singapore Citizen, 1st property (0% ABSD). BSD can be paid from CPF OA.
Want the exact breakdown by bracket? Use the stamp duty calculator.
3. Legal fees — $3,000-$5,000
Covers conveyancing (transfer of property), title search, CPF paperwork, and loan documentation. Must be paid in cash. Shop around — quotes vary by $1,000+ between firms.
4. Renovation — $30,000-$100,000+
This is the cost everyone forgets. New launches are bare — you need flooring, kitchen, wardrobes, everything. Budget $60,000-$100,000. Resale condos may need less ($30,000-$60,000) depending on condition. Cash only — no CPF for renovation.
5. The costs nobody mentions
Moving costs ($1,000-$3,000), new furniture and appliances ($5,000-$20,000), fire insurance ($200-$400/year), property tax (higher than HDB), and monthly maintenance ($300-$600/month). These add $10,000-$25,000 in the first year.
Total cash needed — real examples
Singapore Citizen, 1st property, no ABSD. BSD paid from CPF where possible.
| Condo Price | Cash Down (5%) | BSD | Legal | + Reno | All-in Cash |
|---|---|---|---|---|---|
| $1,000,000 | $50,000 | $24,600 | $3,500 | $50,000 | $128,100 |
| $1,500,000 | $75,000 | $44,600 | $4,000 | $60,000 | $183,600 |
| $2,000,000 | $100,000 | $69,600 | $4,500 | $70,000 | $244,100 |
For a $1M condo, expect $128,000+ in total cash outlay. For $1.5M, it's closer to $184,000. If you're upgrading from an HDB, your sale proceeds need to cover this after CPF takes its cut.
If you're upgrading from HDB
Your HDB sale proceeds are split three ways: CPF clawback (goes back to your OA), loan repayment (goes to bank), and the remainder (your cash). Most people overestimate the cash portion because they forget CPF takes its share first.
Example: Sell HDB for $550K. Loan outstanding: $200K. CPF clawback: $180K. Cash you walk away with: $170K. That's enough for a $1M condo — but just barely, once you factor in stamp duty, legal fees, and renovation.
See your exact cash position
The pipeline calculator works out your real cash after CPF clawback, then shows exactly what you'd need for any target condo price.
Run My NumbersFAQ
What is the minimum cash down payment for a condo in Singapore?
For your first property, the minimum cash down payment is 5% of the purchase price (remaining 20% can come from CPF). For a $1M condo, that's $50,000 in cash. For a second property, the minimum is 25% total down payment with at least 5% in cash.
Can I use CPF to pay for condo stamp duty?
Yes, you can use CPF OA funds to pay BSD (Buyer's Stamp Duty). However, ABSD (Additional Buyer's Stamp Duty) must be paid in cash. For Singapore Citizens buying their first property, there's no ABSD, so the full BSD of $24,600 on a $1M condo can come from CPF.
How much are legal fees for buying a condo?
Legal fees for a condo purchase typically range from $2,500-$5,000, depending on the complexity and law firm. This covers conveyancing, title search, and loan documentation. Budget $3,000-$4,000 as a safe estimate. This must be paid in cash.
What is the total cash needed for a $1M condo as a first-time buyer?
For a Singapore Citizen buying their first $1M condo: $50,000 (5% cash down) + $24,600 (BSD, can use CPF) + $3,500 (legal fees) = $78,100 minimum. If paying BSD from cash, it's $78,100 total. Plus renovation ($30K-$80K) and moving costs.
Do I need cash for renovation on top of the purchase?
Yes. Condo renovation costs $30,000-$100,000+ depending on scope. New launches may need full renovation ($60K-$100K). Resale condos vary. You cannot use CPF for renovation. This is often the cost people forget when planning their upgrade budget.
What costs can I use CPF OA for when buying a condo?
CPF OA can be used for: the remaining down payment (after 5% cash), BSD stamp duty, monthly mortgage payments, and a portion of legal fees. CPF CANNOT be used for: ABSD, renovation, moving costs, or maintenance fees.
Related Tools & Guides
- CPF Accrued Interest Calculator — see exactly how much CPF claws back from your sale
- HDB to Condo Affordability Calculator — find your max budget after all costs
- What Salary Do You Need for a Condo? — income requirements by condo price
- Should You Upgrade from HDB to Condo? — decision framework with real numbers
Last updated Feb 2026. BSD rates effective 15 Feb 2023 (IRAS). This is a cost breakdown, not financial advice.