{"id":7090,"date":"2016-09-14T21:50:28","date_gmt":"2016-09-14T13:50:28","guid":{"rendered":"https:\/\/www.99.co\/blog\/singapore\/?p=7090"},"modified":"2026-05-13T19:45:45","modified_gmt":"2026-05-13T11:45:45","slug":"paying-executive-condo","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/paying-executive-condo\/","title":{"rendered":"99.co guides: Everything to know about paying for an Executive Condo"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><p><span style=\"font-weight: 400;\">If you\u2019re looking to live the high life but on a slightly lower budget, the Executive Condominium (EC) might be what you\u2019re looking for. The public-private hybrid housing scheme is fast becoming the top choice of housing for Singaporeans, combining the aesthetics and facilities of a private condominium with the price tag closer to that of an HDB flat.<\/span><\/p>\n<figure id=\"attachment_7108\" aria-describedby=\"caption-attachment-7108\" style=\"width: 800px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"wp-image-7108\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2016\/09\/waterbay.jpg\" alt=\"Familiarise yourself with the payment schedules for Executive Condominiums\" width=\"800\" height=\"444\" srcset=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2016\/09\/waterbay.jpg 1800w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2016\/09\/waterbay-270x149.jpg 270w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2016\/09\/waterbay-940x522.jpg 940w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><figcaption id=\"caption-attachment-7108\" class=\"wp-caption-text\">Familiarise yourself with the payment schedules for Executive Condominiums<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">But as alluring as that sounds, it\u2019s really important that you do the adult thing and first determine whether or not you\u2019ll be able to afford the payments when they come due. <\/span><\/p>\n<h3><b>Payment Schemes<\/b><\/h3>\n<p>There are two types of payment schemes available to prospective EC purchasers:<\/p>\n<ol>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Normal Payment Scheme (<\/span><b>NPS<\/b><span style=\"font-weight: 400;\">); and<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Deferred Payment Scheme (<\/span><b>DPS<\/b><span style=\"font-weight: 400;\">)<\/span><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">Under the NPS, buyers make instalment payments on the property each time the developer hits certain pre-set milestones in its construction \u2013 kind of like a reward system. This usually works out to a payment of about 5 \u2013 10 per cent on the purchase price of the property every 6 months or so. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">As the name suggests, the DPS allows buyers to push back the timing of the payments. Instead of making small payments every few months, DPS buyers need only pay 20 per cent of the purchase price at the outset, while the remaining 80 per cent is paid once the project is completed (about 3 years after).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While the DPS may seem the obvious choice, it usually comes with a higher price tag of about 2 \u2013 3 per cent as compared to buying under the NPS. As such, it\u2019s usually better to go with the NPS, unless you\u2019re not confident with being able to keep up with the NPS payment timings, or you think you can put the money to better use in the meantime (investing it in TOTO doesn\u2019t count!).<\/span><\/p>\n<p><strong>Notably, the Ministry of National Development (MND) announced <a href=\"https:\/\/www.99.co\/singapore\/insider\/new-executive-condominium-ec-policies-announced-longer-mop-no-more-dps-higher-priority-for-first-timers\/\" target=\"_blank\" rel=\"noreferrer noopener\" data-wpel-link=\"internal\">several major revisions<\/a> to Singapore\u2019s EC scheme on 8 May 2026, with one of the most impactful changes being the removal of the DPS for all future EC sites launched under the 1H2026 Government Land Sales (GLS) programme onwards. The <a href=\"https:\/\/www.99.co\/singapore\/insider\/5-upcoming-ec-launches-with-deferred-payment-scheme\/\" target=\"_blank\" rel=\"noopener\">last batch of ECs available under DPS<\/a>\u00a0is expected to see heightened interest from buyers hoping to secure an EC before the policy changes fully take effect.<\/strong><\/p>\n<h3><b>Normal Payment Scheme (Illustration)<\/b><\/h3>\n<p>Let\u2019s take the example of the newlywed couple Ayesha and Michael.<\/p>\n<p><span style=\"font-weight: 400;\">They are first-timer applicants with a combined income of $8,000\/month who are looking to purchase a 3-Room EC, with a purchase price of $800,000. They have $10,000 in their CPF accounts and find that they qualify for a <\/span><a href=\"https:\/\/www.99.co\/singapore\/insider\/cpf-housing-grant-what-you-need-to-know-to-get-the-most-out-of-it\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Family Grant<\/span><\/a><span style=\"font-weight: 400;\"> of $30,000.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">They\u2019ve gone with their bank-recommended counsel, who have agreed to charge $2,500 for the transaction, and will be obtaining their valuation report at $214.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Since it\u2019s their first and only loan, they are entitled to obtain a loan for up to 80 per cent of the purchase price from the bank.<br \/>\n<\/span><br \/>\n<span style=\"font-weight: 400;\">Here\u2019s how their payments would go under the NPS:<\/span><\/p>\n<table style=\"height: 3032px;\" width=\"672\">\n<tbody>\n<tr>\n<td>\n<p style=\"text-align: center;\"><strong>Fee payable \/ Stage of work completed<\/strong><\/p>\n<\/td>\n<td style=\"text-align: center;\"><strong>Approximate Timeframe<\/strong><\/td>\n<td style=\"text-align: center;\"><strong>% purchase price or fees payable<\/strong><\/td>\n<td style=\"text-align: center;\"><strong>Amount payable<\/strong><\/td>\n<td>\n<p style=\"text-align: center;\"><strong>Source of funds<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Grant of option<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">(Booking fee)<\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">&#8211;<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">5% of purchase price<\/span><\/p>\n<p>&nbsp;<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$40,000<\/span><\/td>\n<td>\n<p style=\"text-align: center;\">Cash<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Exercise of option <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">(Option fee)<\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">On signing sale &amp; purchase agreement (<\/span><b>S&amp;P<\/b><span style=\"font-weight: 400;\">) or\u00a0<\/span><span style=\"font-weight: 400;\">9 weeks from option date*<\/span><\/p>\n<p>*whichever is later<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">15%\u00a0<\/span>of purchase price<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$120,000<\/span><\/td>\n<td>\n<p style=\"text-align: center;\">Cash \/ CPF<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\">Stamp duty<\/p>\n<\/td>\n<td style=\"text-align: center;\">~ 2 weeks from signing S&amp;P<\/td>\n<td style=\"text-align: center;\">1st $180,0001%<\/p>\n<p>2nd\u00a0$180,000<\/p>\n<p>2%<\/p>\n<p>Remainder of purchase price<\/p>\n<p>3%<\/td>\n<td style=\"text-align: center;\">$18,600<\/td>\n<td>\n<p style=\"text-align: center;\">Cash \/ CPF<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Valuation report fee<\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">&#8211;<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">~ $214<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$214<\/span><\/td>\n<td style=\"text-align: center;\">Cash \/ CPF<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Legal fees<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">&#8211;<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">~ $2,500<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$2,500<\/span><\/td>\n<td>\n<p style=\"text-align: center;\">Cash \/ CPF<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Foundation work<\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">~ 6 \u2013 9 months from launch<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">10%\u00a0<\/span>of purchase price<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$80,000<\/span><\/td>\n<td style=\"text-align: center;\" rowspan=\"8\">Cash \/ Bank loan<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Reinforced concrete framework<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">~ 6 \u2013 9 months later<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">10%\u00a0<\/span>of purchase price<\/td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">$80,000<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Brick walls of unit<\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">~ 3 \u2013 6 months later<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">5%\u00a0<\/span>of purchase price<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$40,000<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Ceiling of unit<\/span><\/td>\n<td style=\"text-align: center;\">~ 3 \u2013 6 months later<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">5%\u00a0<\/span>of purchase price<\/td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">$40,000<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Door &amp; window frames in position, wiring, internal plastering &amp; plumbing of unit<\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\">~ 3 \u2013 6 months later<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">5%\u00a0<\/span>of purchase price<\/td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">$40,000<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Car park, roads &amp; drains servicing the project<\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\">~ 3 \u2013 6 months later<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">5%\u00a0<\/span>of purchase price<\/td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">$40,000<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Notice of vacant possession<\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">TOP date<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">25%\u00a0<\/span>of purchase price<\/td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">$200,000<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Legal completion date<\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Date of legal completion \/ Certificate of statutory completion<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">15%\u00a0<\/span>of purchase price<\/td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">$120,000<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Total<\/span><\/p>\n<\/td>\n<td><\/td>\n<td><\/td>\n<td><b>$821,314<\/b><\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-weight: 400;\">Assuming they wish to pay the EC instalments via a bank loan, here\u2019s what their financial obligation would look like: \u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bank Loan: $640,000<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Cash Requirement: \u00a0$181,314 ($821, 314 &#8211; $640,000) <\/span><\/p>\n<h3><b>Deferred Payment Scheme (Illustration)<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Now, let\u2019s see how the finances work out if Ayesha and Michael decide to pay via DPS instead. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Let\u2019s assume the DPS requires a premium of 3 per cent on the purchase price; the new purchase price would then be $824,000.<\/span><\/p>\n<table style=\"height: 1646px;\" width=\"684\">\n<tbody>\n<tr>\n<td style=\"text-align: center;\"><strong>Fee payable \/ Stage of work completed<\/strong><\/td>\n<td style=\"text-align: center;\"><strong>Approximate Timeframe<\/strong><\/td>\n<td style=\"text-align: center;\"><strong>% purchase price or fees payable<\/strong><\/td>\n<td style=\"text-align: center;\"><strong>Amount payable<\/strong><\/td>\n<td>\n<p style=\"text-align: center;\"><strong>Source of funds<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Grant of option<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">(Booking fee)<\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">&#8211;<\/span><\/td>\n<td style=\"text-align: center;\">5% of purchase price<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$41,200<\/span><\/td>\n<td style=\"text-align: center;\">Cash<\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Exercise of option<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">(Option fee)<\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">On signing sale &amp; purchase agreement (<\/span><b>S&amp;P<\/b><span style=\"font-weight: 400;\">) or\u00a0<\/span><span style=\"font-weight: 400;\">9 weeks from option date*<\/span><\/p>\n<p>*whichever is later<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">15%\u00a0<\/span>of purchase price<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$123,600<\/span><\/td>\n<td>\n<p style=\"text-align: center;\">Cash \/ CPF<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Stamp duty<\/span><\/td>\n<td style=\"text-align: center;\">~ 2 weeks from signing S&amp;P<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">3%\u00a0<\/span>of purchase price<\/p>\n<p><span style=\"font-weight: 400;\">Less $5400<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$19,320<\/span><\/td>\n<td>\n<p style=\"text-align: center;\">Cash \/ CPF<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">Valuation report fee<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">&#8211;<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">~ $214<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$214<\/span><\/td>\n<td>\n<p style=\"text-align: center;\">Cash \/ CPF<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Legal fees<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">&#8211;<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">~ $2,500<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$2,500<\/span><\/td>\n<td>\n<p style=\"text-align: center;\">Cash \/ CPF<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">Notice of vacant possession<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">TOP date<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">65%\u00a0<\/span>of purchase price<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$535,600<\/span><\/td>\n<td rowspan=\"2\">\n<p style=\"text-align: center;\">Cash \/ Bank Loan<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Legal completion date<\/span><\/td>\n<td style=\"text-align: center;\">Date of legal completion \/ Certificate of statutory completion<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">15%\u00a0<\/span>of purchase price<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$123,600<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Total<\/span><\/td>\n<td style=\"text-align: center;\"><\/td>\n<td style=\"text-align: center;\"><\/td>\n<td style=\"text-align: center;\"><b>$846,034<\/b><\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-weight: 400;\">Under the DPS, Ayesha and Michael will need to come up with the first $164,800 in cash, which would (like under the NPS) be subject to reimbursement later on. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Once that is paid, however, they do not need to worry about making any further instalment payments on the property until 3 years after, when the payments start becoming due. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Assuming they wish to pay the EC instalments via a bank loan, here\u2019s what their financial obligation would look like:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bank Loan: $659,200<\/span><br \/>\n<span style=\"font-weight: 400;\">Cash Requirement after reimbursement and payment through CPF: \u00a0$206,034 ($846, 034 &#8211; $659,200)<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you\u2019re looking to live the high life but on a slightly lower budget, the Executive Condominium (EC) might be what you\u2019re looking for. The public-private hybrid housing scheme is fast becoming the top choice of housing for Singaporeans, combining the aesthetics and facilities of a private condominium with the price tag closer to that&hellip;<\/p>\n","protected":false},"author":31,"featured_media":54432,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_lmt_disableupdate":"no","_lmt_disable":"no","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[53601,53725,53593,57131],"tags":[],"persona":[],"class_list":{"2":"type-post","11":"entry","12":"has-post-thumbnail"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v25.7) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>99.co guides: Everything to know about paying for an Executive Condo<\/title>\n<meta name=\"description\" content=\"If you\u2019re looking to live the high life but on a slightly lower budget, the Executive Condominium (EC) might be what you\u2019re looking for.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.99.co\/singapore\/insider\/paying-executive-condo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"99.co guides: Everything to know about paying for an Executive Condo\" \/>\n<meta property=\"og:description\" content=\"If you\u2019re looking to live the high life but on a slightly lower budget, the Executive Condominium 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