Purchasing a private property or condominium in Singapore is a big financial decision, and understanding the downpayment structure is crucial for effective planning. Whether you’re a first-time buyer or investing in property, here's a detailed breakdown of the financial downpayment and deposit needed to buy a condominium in Singapore. The property buying process typically starts with an Option to Purchase (OTP). To secure the unit, the buyer pays an OTP fee, which is generally 1% of the purchase price. Within 2-3 weeks after obtaining the OTP, the buyer must exercise the option by signing the Sale & Purchase Agreement. When exercising the OTP, you’ll pay an additional deposit, usually 4% of the purchase price. Combined, the total booking fee (OTP fee + exercise fee) is typically 5% of the condo’s price. This portion is paid in cash. In Singapore, the minimum downpayment for a private property is 25% of the purchase price: At least 5% in cash (covered by the OTP and exercise fee), the remaining 20% can be in cash or from your Central Provident Fund (CPF) Ordinary Account funds. Apart from the downpayment and deposit, remember to account for Buyer’s Stamp Duty (BSD), legal fees, and possible Additional Buyer’s Stamp Duty (ABSD) if you own other properties or are not a Singapore citizen.