Whether you're considering Loyang Valley Residences or another new launch, the buying process for uncompleted private residential property in Singapore follows a fairly consistent structure. Here's what to expect, using Loyang Valley Residences as a working example.
Before registering interest, confirm your eligibility to purchase private property in Singapore (citizens, PRs and foreigners are generally eligible, subject to Additional Buyer's Stamp Duty considerations), and get an in-principle loan approval to understand your realistic budget.
Most new launches, including Loyang Valley Residences, open a VVIP registration period before the public preview. Registering early typically means earlier notification of pricing, floor plans, and showflat appointment slots — and sometimes priority unit selection on preview day.
At preview, you'll view showflat units, receive the official price list and floor plans, and can indicate your preferred unit and stack. Early preview slots often have first access to the best-positioned stacks.
Once you've chosen a unit, you pay a booking fee (typically 5% of the purchase price) to secure an Option to Purchase (OTP), which reserves the unit for you for a defined exercise period.
Within the OTP exercise period (commonly 3 weeks), you sign the Sale & Purchase Agreement and pay a further percentage (commonly an additional 15-20%) to formally exercise the option.
From this point, payments follow the Progressive Payment Scheme, tied to construction milestones, typically funded through a combination of your own cash/CPF and a bank loan disbursed progressively.
Once the Temporary Occupation Permit is granted, you collect your keys and can move in, with the final payment tranche due at this stage.
Roughly a year after TOP, the project typically receives its CSC, marking full legal completion, with the final small percentage payment due at this point.
For Loyang Valley Residences specifically, VVIP registration is open now ahead of the targeted late 2027/2028 preview. Registering early is free and puts you in a stronger position to access floor plans, pricing, and preview slots as soon as they're released.
Do I need an agent to buy a new launch condo in Singapore?
No, but it costs nothing extra to use one — new launch agent commissions are paid by the developer, so buyers pay the same price whether or not they engage an agent. An experienced agent can help with unit selection strategy and paperwork.
What is the difference between OTP and S&P Agreement?
The OTP (Option to Purchase) is a booking that reserves your unit for a set exercise period. The Sale & Purchase Agreement is the formal contract signed when you exercise the OTP, at which point you're legally committed to the purchase.
Can foreigners buy new launch condos in Singapore?
Yes, subject to Additional Buyer's Stamp Duty (ABSD), which applies at different rates depending on buyer profile (citizen, PR, or foreigner). Consult a qualified agent or lawyer for current ABSD rates.
How long does the whole process take from booking to key collection?
For a typical new launch, this spans roughly 3-5 years from OTP signing to TOP, depending on the project's construction timeline and any delays.
Be first to receive floor plans, indicative pricing & showflat invitation — Direct Developer Price, no agent fees.
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