Step-by-Step Guide to Buying a Property in Singapore: A Comprehensive Overview

Step-by-step to buying property in Singapore

Buying a property is a significant milestone in one's life, and navigating the process can seem overwhelming. In Singapore's dynamic real estate market, it's crucial to have a clear understanding of the step-by-step process to ensure a smooth and successful property purchase. In this comprehensive guide, we will walk you through the essential steps involved in buying a property in Singapore.

Step 1: Determine Your Budget and Financing Options

  • Assess your financial situation and establish a realistic budget.
  • Explore various financing options, such as bank loans, HDB loans, and CPF funds.
  • Obtain an In-Principle Approval (IPA) to understand your loan eligibility.
  • You can read more details about Budget and Financing options from here.

Step 2: Research and Property Search

  • Define your property requirements, including location, type, size, and amenities.
  • Engage a reputable real estate agent to assist you in your property search.
  • Utilize online property portals and platforms to browse listings and gather information.
  • We elaborate in further details on research and property searches in our blog post here.

Step 3: Property Viewings and Due Diligence

  • Attend property viewings to physically inspect shortlisted properties.
  • Conduct due diligence by researching the neighborhood, amenities, and future development plans.
  • Engage a lawyer or conveyancing firm to perform a thorough title search and review contractual agreements.

Step 4: Make an Offer and Negotiate

  • Submit an offer to the seller through your real estate agent.
  • Negotiate the terms and conditions of the Sale & Purchase Agreement (SPA), and/or  Option-to-Purchase (OTP) including price, payment terms, and additional clauses.
  • Seek legal advice to review and ensure the agreement aligns with your interests.

Step 5: Financing and Mortgage Application

  • Finalize your financing options and choose a suitable mortgage package.
  • Complete the mortgage application process, providing necessary documentation to the financial institution.
  • Understand the loan terms, interest rates, repayment schedules, and associated fees.

Step 6: Exercise the Option to Purchase (OTP)

  • Once your offer is accepted, exercise the OTP by paying the option fee to the seller.
  • Fulfill any remaining conditions stated in the OTP within the option period, usually 14 days.
  • Ensure sufficient funds are available to pay the Buyer Stamp Duty and Additional Buyer Stamp Duty (ABSD). Check our calculator for stamp duty payable.
  • Stamp Duty payable within 14 days from date of exercising the Option to Purchase.

Step 7: Engaging a Lawyer and Conveyancing

  • Engage a lawyer or conveyancing firm to handle the legal aspects of the transaction.
  • Conduct necessary legal searches, prepare documents, and facilitate the transfer of ownership.

Step 8: Completion and Handover

  • Pay the down payment and any outstanding payments as per the SPA or OTP.
  • Complete the necessary paperwork, including the payment of stamp duty. Stamp Duties are payable within 14 days from the Option to Purchase exercise date for private property.
  • Receive the keys as the seller completes the handover process.

Step 9: Post-Purchase Matters

  • Engage service providers if needed, such as renovation contractors or property management companies.
  • Update your address with relevant authorities and utility service providers.
  • Fulfill ongoing obligations, such as property taxes and maintenance fees.


Buying a property in Singapore can be a rewarding experience with the right knowledge and guidance. By following this comprehensive step-by-step guide, you'll be equipped to navigate the process with confidence. Remember to seek professional assistance from real estate agents, lawyers, and financial advisors to ensure a smooth and successful property purchase in Singapore. Happy property hunting!