Property terms, in plain English.
The words you will meet when buying or selling a home in Singapore, with links to the tool or guide that puts each one to work.
- ABSDAdditional Buyer’s Stamp Duty
- An extra stamp duty on residential purchases that depends on the buyer’s profile and how many homes they already own. Due within 14 days of signing. Learn more >
- BSDBuyer’s Stamp Duty
- Stamp duty on buying property, charged in bands on the higher of the price and market value. Due within 14 days of signing. Learn more >
- BUCBuilding under construction
- A home bought before it is built, usually a new launch, paid for in stages as construction progresses. Learn more >
- CCR / RCR / OCRMarket regions
- Core Central Region, Rest of Central Region and Outside Central Region: URA’s three broad regions for private housing. Learn more >
- COVCash over valuation
- The amount by which a price exceeds the valuation. Loans are based on the lower figure, so COV is paid in cash. Learn more >
- CPF OACPF Ordinary Account
- The CPF account most commonly used for down payments and monthly housing loan repayments, subject to CPF limits.
- CSCCertificate of Statutory Completion
- Issued when a building is fully completed; the final instalment of a new launch is tied to completion and the CSC. Learn more >
- DistrictPostal district
- One of Singapore’s 28 postal districts, D01 to D28, often used to describe where a property sits. Learn more >
- ECExecutive Condominium
- A hybrid of public and private housing with eligibility rules and a minimum occupation period before full privatisation.
- Exercise feeOption exercise fee
- Paid when the buyer exercises the option to purchase. For HDB resale, the option and exercise fees together cannot exceed S$5,000. Learn more >
- Freehold / leaseholdTenure
- Freehold land is owned indefinitely; leasehold is held for a fixed term such as 99 years.
- HFE letterHDB Flat Eligibility letter
- HDB’s assessment of your eligibility to buy a flat, grants and an HDB loan, needed before buying an HDB flat. Learn more >
- LTVLoan-to-value limit
- The maximum loan as a share of the price or valuation, whichever is lower. For bank loans it is 75%, 45% or 35% depending on outstanding housing loans. Learn more >
- MOPMinimum Occupation Period
- The period an owner must live in an HDB flat or EC before selling or renting out the whole unit.
- MSRMortgage Servicing Ratio
- For HDB flats and applicable ECs, monthly housing loan repayments are capped at 30% of income. Learn more >
- Option feeOption to purchase fee
- Paid to secure the right to buy, usually 1% for resale private homes, up to S$1,000 for HDB resale, or the 5% booking fee for new launches. Learn more >
- OTPOption to Purchase
- The document that gives the buyer the exclusive right to buy within a set period.
- PledgingPledging funds
- Committing eligible savings or investments to the bank so they count as income for the TDSR. Learn more >
- PPSProgressive payment scheme
- The standard payment schedule for new launches: 20% upfront, then instalments at each construction stage, TOP and completion. Learn more >
- S&PSale and Purchase Agreement
- The contract between buyer and seller (or developer) setting out the price, payment schedule and completion terms.
- SSDSeller’s Stamp Duty
- Stamp duty on selling a residential property within the holding period after buying it. Learn more >
- Stack
- A vertical column of units with the same layout and facing in a block. Stack choice affects views, sun and noise. Learn more >
- TDSRTotal Debt Servicing Ratio
- All monthly debt repayments, including the new home loan at an assessment rate of at least 4%, must not exceed 55% of income. Learn more >
- TOPTemporary Occupation Permit
- Allows owners to move in once a building is substantially complete; 25% of a new launch price is due after TOP. Learn more >
- ValuationBank or HDB valuation
- An independent estimate of market value. Loans are based on the lower of the price and valuation. Learn more >
Still unsure about a term?
Ask me. It usually helps to look at it in the context of your own purchase or sale.
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