Property True Cost Calculator
See the real cost of owning an HDB flat or condo in Singapore - not just the monthly mortgage.
Property & Purchase
Affects default fees, property tax assumptions and Seller's Stamp Duty treatment.
Stamp duty is charged on the higher of price or market valuation.
Counts residential properties you already own, including overseas ones for ABSD declaration purposes.
Typically S$1,800-S$3,000 for HDB and S$2,500-S$4,000 for private property.
Valuation, buyer agent fee, mortgage insurance, HDB admin fees and similar one-off items.
Renovation is real money spent that you rarely get back at resale.
Loan & CPF
The HDB concessionary rate is 2.6% per year. Bank rates float and can reset.
Maximum is 75% for both HDB loans and first bank housing loans.
Up to 25 years for HDB flats and 30 years for private property.
The rest comes from cash. Bank loans require at least 5% of the price in cash.
Every dollar of CPF OA you use stops earning 2.5% and must be refunded with accrued interest when you sell.
Ongoing Holding Costs
S&CC for HDB flats, or MCST maintenance fees for condos.
IRAS estimate of yearly rent if the property were let out. Check it on the IRAS portal.
HDB fire insurance is small; private home and mortgage insurance costs more.
Aircon servicing, plumbing, painting, appliance replacement and general wear and tear.
Growth & Exit
Your assumption for how fast the property appreciates. Use 0% for a flat market.
How long you plan to keep the property before selling.
Usually 2% of the sale price, plus 9% GST on the commission.
Conveyancing cost when you sell.
Rental (Optional)
Gross rent before vacancy, agent fees and income tax.
Weeks the unit sits empty between tenants each year.
As a percentage of gross annual rent.
Marginal rate applied to net rental income after the 15% deemed expense deduction and mortgage interest.
What You Pay Upfront
Upfront Breakdown
Your Real Monthly Cost
Average over your holding period. Loan principal is excluded because it becomes your equity, not an expense.
Instalment plus running costs, less net rent. This is what actually leaves your accounts.
Break-even Sale Price
The price you must sell at to walk away neither richer nor poorer, after every cost above.
At your assumed annual growth rate.
After every cost, including CPF accrued interest and selling costs.
After repaying the loan and refunding CPF principal plus accrued interest.
Principal used plus accrued interest. Still your money, but locked in CPF.
- Return on Cash + CPF Invested
- 0%
- Annualised Return
- 0%
- S$0
- Outstanding Loan
- S$0
- Selling Costs
- S$0
- Seller's Stamp Duty
- -
Things to Check
Year by Year
| Year | Loan Left | Interest Paid | CPF Used + Accrued | Total Put In | Break-even Price | Growth Needed | Projected Price | True Profit / Loss |
|---|
Assumptions Used
- BSD: 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% above S$3,000,000.
- ABSD rates are the ones in force since 27 April 2023.
- Owner-occupier property tax uses the annual value bands effective from 1 January 2025; rented-out units use non-owner-occupier rates.
- Seller's Stamp Duty for private property bought on or after 4 July 2025 is 16%, 12%, 8% and 4% for sales in years 1 to 4.
- CPF Ordinary Account accrued interest is compounded at 2.5% per year on every dollar withdrawn.
- Selling agent commission attracts 9% GST.
- Rental income tax uses the 15% deemed expense option plus a deduction for mortgage interest.
This is an estimate for planning only. Confirm stamp duty with IRAS, loan limits with your bank or HDB, and CPF usage rules with the CPF Board before committing.
In-depth guide
The true cost of buying a home in Singapore: upfront, yearly and when you sell
Every cost beyond the monthly instalment — stamp duties, fees, renovation, maintenance, property tax, CPF accrued interest and selling costs — and how to work out the break-even price before you sign.
Key figures at a glance
- Maximum loan (first housing loan)
- 75% of price or valuation
- So at least 25% comes from your own cash and CPF.
- Source: MAS / HDB
- CPF accrued interest
- 2.5% a year on CPF used
- Refunded to your CPF, with the principal, when you sell.
- Source: CPF Board
- Seller's Stamp Duty (private homes)
- 16% · 12% · 8% · 4%
- If sold in years 1–4 after purchase (from 4 Jul 2025).
- Source: IRAS
- HDB minimum occupation period
- 5 years
- Longer than the SSD window, so SSD rarely applies to HDB flats.
Costing a purchase from offer to sale: step by step
Run these in order. Each step adds a block of costs that a simple mortgage calculator leaves out.
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Step 1: Upfront cash and CPF
Before the offerDownpayment (cash and CPF), BSD, ABSD if any, legal and conveyancing fees, valuation, and any cash over valuation.
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Step 2: Moving-in costs
Before key collectionRenovation, furniture and appliances. Renovation is real spending that you rarely recover at resale.
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Step 3: Running costs every year
While you own itInterest on the loan, maintenance or conservancy charges, property tax on the Annual Value, home and fire insurance, and repairs.
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Step 4: The hidden cost of CPF
ThroughoutEvery dollar of CPF OA used stops earning 2.5% a year, and you must refund principal plus that interest to CPF when you sell.
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Step 5: Selling costs and break-even
Before you buyAgent commission plus GST, legal fees and any Seller's Stamp Duty. The calculator works out the price you need at 5 and 10 years just to break even.
Why the instalment is not the cost
A mortgage calculator answers "what will I pay each month?". That number leaves out three things that decide whether a purchase makes financial sense:
- Money that leaves before you get the keys — stamp duties, fees and renovation.
- Money that keeps leaving — interest, maintenance, property tax and insurance.
- Money you give up — the CPF interest you stop earning, which you must repay to CPF when you sell.
The four blocks of cost
| Block | What is in it | Cash or CPF |
|---|---|---|
| Upfront | Downpayment, BSD, ABSD, legal fees, valuation, cash over valuation | Mix; ABSD and COV usually cash first |
| Moving in | Renovation, furniture, appliances | Cash or renovation loan |
| Yearly | Loan interest, maintenance/conservancy, property tax, insurance, repairs | Mostly cash; instalments can use CPF |
| Selling | Agent commission + GST, legal fees, Seller's Stamp Duty | From proceeds |
The principal part of each instalment is not a cost — it converts cash into equity — so the calculator shows it separately as forced savings. Interest is money gone.
CPF accrued interest, explained
When you use CPF Ordinary Account savings for a home, that money stops earning 2.5% a year in CPF. CPF keeps a running total of the interest it would have earned — the accrued interest. When you sell, the principal and the accrued interest go back into your CPF account before you receive any cash.
Using $200,000 of CPF at the start of a ten-year holding period builds up about $56,000 of accrued interest. On a flat that rose only a little in value, that refund can absorb the whole paper gain — the money is still yours, but it is back in CPF, not in your bank account.
Tip: Accrued interest is not a penalty; it protects your retirement savings. But it means a "profit" on paper can leave you with little cash to put towards the next home.
The break-even price
The calculator works out the sale price at which you get back everything you put in — downpayment, stamp duties, fees, renovation, interest and running costs, plus the outstanding loan and the CPF refund — after selling costs and any rent received. It then converts that into the yearly price growth the property must achieve over 5 and 10 years.
If breaking even in five years needs 3.4% growth a year and similar homes have been rising 1% a year, the purchase only works as a long-term home, not a short-term investment.
Example: a $1.6 million condo as a second home
A Singapore Citizen who already owns a home pays $49,600 BSD and $320,000 ABSD (20%), plus legal fees and renovation. If they still have a housing loan on the first home, the new loan is capped at 45% LTV and at least 25% of the price must be paid in cash. The ABSD alone needs years of price growth to recover.
Common mistakes
- Counting principal as a cost — or ignoring interest as one.
- Forgetting ABSD on a second property.
- Ignoring CPF accrued interest when estimating sale proceeds.
- Selling a private home within 4 years and triggering Seller's Stamp Duty.
- Treating renovation as an investment — it rarely adds its cost to the sale price.
Related tools
- BSD calculator and ABSD calculator — the stamp duties in detail.
- Property tax calculator — the yearly tax on Annual Value.
- Loan repayment calculator — interest versus principal over time.
- TDSR and MSR calculator — how much a bank will lend.
Frequently Asked Questions
Why does CPF accrued interest matter so much?
Because it is refunded to your CPF before you see any cash. If you used S$200,000 of CPF over ten years, roughly S$56,000 of accrued interest builds up on top of it. On a flat that only appreciated slightly, the entire paper gain can end up going back into CPF instead of your bank account.
Is the loan principal a cost?
No. The principal portion of your instalment converts cash into equity in the property, so this calculator excludes it from the true monthly cost and shows it separately as forced savings. Interest, on the other hand, is money gone for good.
How is the break-even price calculated?
It is the sale price where your net proceeds, after selling agent commission with GST, legal fees and any Seller's Stamp Duty, exactly cover the outstanding loan, everything you paid in, and the CPF accrued interest you must refund. Any rental income you received reduces it.
Do I pay ABSD on an HDB BTO flat?
ABSD depends on how many residential properties you own, not on whether the flat comes from HDB. A citizen buying a first home pays no ABSD. If you own another property you must generally dispose of it, and HDB eligibility rules apply on top of the tax rules.
Why does my property tax change when I rent the unit out?
Owner-occupier rates start at 0% and are heavily subsidised. Once the whole unit is let out, non-owner-occupier rates apply, starting at 12% of annual value. For a condo this can add several thousand dollars a year.
Does this apply to Seller's Stamp Duty on HDB flats?
HDB flats are subject to the 5-year Minimum Occupation Period, which is longer than the 4-year SSD window, so SSD does not normally apply in practice. The calculator sets SSD to zero for HDB and warns you if you plan to sell before the MOP ends.
Are the rates in this calculator current?
They reflect BSD rates from 15 February 2023, ABSD rates from 27 April 2023, owner-occupier property tax bands from 1 January 2025, the Seller's Stamp Duty schedule from 4 July 2025, and the 2.6% HDB concessionary rate. Always confirm with IRAS, HDB and CPF before you commit.
Sources
- IRAS — Buying or acquiring property (BSD, ABSD)
- IRAS — Property tax
- MAS — Loan tenure and loan-to-value limits
- CPF Board — Home ownership
This guide explains published rules in plain language. It is not financial, legal or official advice — rules change, so confirm with the agency linked above before you commit.