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New Launch Booking Fee in Singapore: What You Pay and When

October 21, 2026
New Launch Booking Fee in Singapore: What You Pay and When

The booking fee on a Singapore new launch condo is usually 5% of the purchase price, paid when you take up the Option to Purchase (OTP) for your chosen unit. It is paid in cash, not CPF, and it counts toward your downpayment. It is also only the first cheque. Stamp duty, the next 15% of the price and the progressive payments that follow matter just as much to your cash plan. This guide walks through each step, with worked figures at the price ranges published for Aurea at 802 Beach Road.

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TL;DR

  • The booking fee is typically 5% of the price, paid when you secure the OTP. PropertyGuru notes the Housing Developers Rules allow up to 10%, so read the figure in your own OTP.
  • You cannot use CPF for the booking fee. CPF can be used for later progressive payments, according to MoneySmart.
  • The fee is not a refundable hold. If you do not proceed, part of it can be forfeited, so know your OTP deadlines on day one.
  • Stamp duty, especially ABSD for some buyer profiles, can add far more upfront cash than the fee itself.

Table of Contents

What the booking fee actually is

When you choose a unit at a new launch, the developer issues an Option to Purchase. You pay the booking fee, often called the option fee, and in return the developer holds that unit for you for a limited period. During that period you decide whether to exercise the option by signing the Sale and Purchase Agreement (S&P).

The standard documentation reflects this link. The prescribed form in the Singapore Statutes Online text sets out the booking fee as 5% of the purchase price and ties the option to payment of that fee to the developer's designated account. That form comes from the Executive Condominium scheme regulations, but it shows the mechanics buyers will recognise: the option only works if the fee is actually paid as the documents require. Always pay exactly as the sales team instructs and keep proof of payment.

The booking fee is part of the price, not an extra charge. A 5% fee leaves 15% to pay when the S&P is signed, so that the first stage totals 20%.

For a deeper look at the document itself, see our guide to the Option to Purchase for a condo.

How much is the booking fee? Worked examples

At 5%, the fee scales directly with the price. The table applies 5% to the lower and upper ends of the price ranges published on the Aurea site. These are arithmetic illustrations, not a quote: your actual fee depends on the unit you select and the figure in your OTP.

Unit typePublished price range5% at the low end5% at the high end
2 BedroomS$1,770,000 to S$2,075,800S$88,500S$103,790
3 BedroomS$2,639,900 to S$3,058,600S$131,995S$152,930
4 BedroomS$4,080,510 to S$4,512,990S$204,025.50S$225,649.50
4 Bedroom PremiumS$5,186,105 to S$5,723,390S$259,305.25S$286,169.50

The 5 Bedroom units and the penthouses have no published price, so we cannot give a figure for them here. Ask the sales team for current availability and pricing.

The point of the table is to size your liquidity. If you have S$100,000 in cash and no other source, a 2 Bedroom at the low end is within reach for the fee, but you must still find the balance of the 20% within weeks.

The full payment path after booking

New launches are sold under the Progressive Payment Scheme for units under construction. DBS describes payment by instalments, tied to construction milestones, instead of a single lump sum. The first stages look like this:

  1. Booking day: 5% booking fee, cash only, to secure the OTP.
  2. S&P signing: a further 15%, due within about eight weeks of the OTP. PropertyInsider lays out this timeline, and cash or CPF can be used for this part, subject to your eligibility.
  3. Construction milestones: staged payments, typically drawn from your bank loan as each stage is certified.
  4. TOP and CSC: the larger final components, due when the project is completed and certified.

Each milestone payment raises your monthly loan instalment a little, because the bank disburses in stages. That is why many buyers find the progressive scheme gentler at first than a completed unit, where the loan starts in full. Our guide to the cash downpayment you should budget breaks down the cash and CPF split in more detail.

A worked example at 2 Bedroom pricing

Take a hypothetical purchase at S$1,770,000, the low end of the published 2 Bedroom range.

  • Booking fee at 5%: S$88,500, cash.
  • S&P stage at 15%: S$265,500, within about eight weeks.
  • Total for the first 20%: S$354,000.
  • Buyer's Stamp Duty: S$58,100 (calculation below).

That is S$412,100 of outlay in the opening weeks, before legal fees, any ABSD and any loan fees. The stamp duty is due on top of the price, not inside the 20%.

Can you use CPF for the booking fee?

No. MoneySmart states that CPF can be used on a progressive payment scheme except for the booking fee payment. You need that 5% in cash on the day. Later stages, including the 15% S&P payment, can draw on CPF Ordinary Account savings within the usual limits.

If you expect to lean on CPF, plan the cash side first: how much liquid money can you move on launch day, and where will the rest come from if a sale closes in a hurry? Our guide on limiting cash to 5% with CPF shows how buyers structure this.

Is the booking fee refundable?

Treat it as non-refundable once you are committed. The OTP gives you a window to exercise the option. If you do not exercise it within that window, the developer can keep part of the fee. PropertyInsider puts the forfeited amount at 1.25% of the price in its worked example, with the rest of the 5% returned. Confirm the exact terms in your OTP, because that document, not a general guide, governs your position.

Three habits protect you:

  • Read the OTP conditions and deadlines on the day you sign, not at the end of the window.
  • Diarise the last date to exercise the option and the date by which the S&P copy must be signed and returned.
  • Have your lawyer review the paperwork before the deadline, not after it.

If your loan approval is uncertain, speak to your bank before you book. An in-principle approval is a far better position than a hopeful guess.

Stamp duty can outweigh the booking fee

Buyers focus on 5%, but stamp duty often decides how much cash you need.

Buyer's Stamp Duty

IRAS publishes Buyer's Stamp Duty (BSD) for residential property at progressive rates, for purchases on or after 15 February 2023: 1% on the first S$180,000, 2% on the next S$180,000, 3% on the next S$640,000, 4% on the next S$500,000, 5% on the next S$1,500,000 and 6% on the remainder. On S$1,770,000 that gives S$1,800 + S$3,600 + S$19,200 + S$20,000 + S$13,500 = S$58,100.

Progressive BSD tiers and worked example

On a S$2,639,900 unit, the same schedule gives S$1,800 + S$3,600 + S$19,200 + S$20,000 + S$75,995 = S$120,595. The rates apply to the price or market value, whichever is higher.

Additional Buyer's Stamp Duty

ABSD depends on who you are and what you already own. IRAS lists the ABSD rates for purchases on or after 27 April 2023: for example, 20% for a Singapore citizen buying a second property, 60% for foreigners and 65% for entities. For joint buyers with different profiles, the highest applicable rate applies to the entire property value.

That last rule catches couples and family buyers off guard. If you are buying with someone whose profile carries a higher rate, the whole purchase is charged at it. Check before you book, not after. We cover the rates in ABSD in Singapore for 2026 and the duty examples in our stamp duty checklist for new launch buyers. Foreign buyers can start with our note on ABSD for foreigners, and owners considering a second property may want to see how dual-key condos work.

Because ABSD rules change, confirm the current rate with IRAS or a conveyancing lawyer before you commit. For buyer-profile questions, your lawyer is the right person to ask.

Additional Buyer's Stamp Duty — overview diagram

Costs after you collect the keys

The booking fee is a one-off. Ownership brings recurring costs. Condo owners pay maintenance contributions to the management corporation (MCST) for daily upkeep and a sinking fund for future major repairs. The BCA explains that contributions are set at general meetings and paid in proportion to the share value of your unit. A new development has no history of charges yet, so ask your agent what the developer's initial estimate is, and budget for it to be reviewed later.

One practical point: check what the building's master insurance policy covers and what falls to you. This guide on checking your condo master policy is written for a US audience, so the rules and figures differ, but the habit of reading the master policy and covering the gap applies in Singapore too. Our primer on the sinking fund and the MCST rules cover the local detail. When your unit is ready, our first 30 days plan for key collection helps you organise the handover.

Our perspective on booking fees

Most buyers who contact us ask first about the booking fee, and the useful answer is that it is the smallest of the commitments in the first two months. The fee is a clear number you can plan for. The surprises come from stamp duty, from joint-buyer profiles and from loan timing.

Our advice, grounded in how Aurea is sold: pick the unit type that fits your household, not the one that merely fits the booking fee. Aurea has 188 units from 2 to 5 bedrooms plus two penthouses, so the size of the fee changes a lot between layouts. Then work backward from your cash: fee, S&P balance, stamp duty, legal costs. If any of those do not fit, the plan needs adjusting before you book, not after.

A few things we would do in your position:

  1. Get your bank's in-principle loan approval before launch day.
  2. Confirm your ABSD profile, and your co-buyer's, in writing with a lawyer.
  3. Keep a buffer for legal fees, valuation and possible changes in the loan terms.
  4. Ask the appointed marketing agent, ERA Realty Network Pte Ltd, to walk you through the OTP in full, then read it again at home.
  5. Plan for completion in 2029, and think about where you will live or what rent you will pay meanwhile.

The market backdrop is worth a glance but should not rush you. The URA reported that private home prices rose 0.9% in the first quarter of 2026 and that developers launched 1,844 uncompleted units that quarter, against 2,632 in the previous one. The same release advises households to stay prudent given macroeconomic uncertainty. That is a fair reading of the mood: buy when your finances are solid, not when a launch queue feels urgent.

— Velisa

Booking a unit at Aurea

If you are weighing a purchase at 802 Beach Road, Aurea offers 2, 3, 4 and 5 bedroom homes and two penthouses, with a link bridge to The Golden Mile, resort-style amenities across four levels and a 99-year leasehold. Published prices run from S$1,770,000 for the 2 Bedroom to S$5,723,390 for the top of the 4 Bedroom Premium range. See the layouts and current pricing on the Aurea homepage, then use the table above to size your booking fee for the unit you prefer.

FAQ

Is the new launch booking fee always 5%?

It is usually 5% of the purchase price, but the figure is set in your OTP. PropertyGuru notes that the Housing Developers Rules allow the developer to charge up to 10%. Always check the exact amount before you pay.

Does the booking fee count toward the downpayment?

Yes. It is part of the purchase price, so the 5% you pay on booking is deducted from the 20% due in the first stage. For a S$2,639,900 unit, that leaves S$395,985 at the S&P stage after a S$131,995 booking fee.

Can I pay the booking fee with CPF?

No. MoneySmart says CPF cannot be used for the booking fee, although it can be used for later progressive payments. Have the 5% available in cash on the day you book.

What happens if I change my mind after booking?

If you do not exercise the option within its validity period, you may lose part of the fee. PropertyInsider gives 1.25% of the price as an example. Your OTP sets the precise terms, so read it carefully and ask your lawyer before the deadline.

Are maintenance fees part of the booking cost?

No. Maintenance contributions are paid to the MCST after you take ownership. The BCA explains how they work, but the amount depends on each development and is decided at its general meetings.

Sources