Glossary
Singapore property terms, in plain English
Every term that gets used in a property conversation as though everyone already knows it. Where there is a fuller explanation, the term links to it.
Stamp duties
- ABSDAdditional Buyer's Stamp Duty
- An extra stamp duty on residential purchases, on top of BSD, charged according to the buyer's residency status and how many residential properties they will hold. Rates are set by IRAS and have been revised several times. Read the full explainer →
- BSDBuyer's Stamp Duty
- The stamp duty payable on every property purchase, calculated on tiers of the purchase price or market value, whichever is higher. Due shortly after the document is signed.
- SSDSeller's Stamp Duty
- A stamp duty payable when a residential property is sold within a defined holding period after acquisition. Calculated on the sale price or market value, not on profit. Read the full explainer →
Financing
- TDSRTotal Debt Servicing Ratio
- A cap on your total monthly debt repayments as a share of gross monthly income — covering all debt, not only the home loan. Usually the reason a loan comes back smaller than expected. Read the full explainer →
- MSRMortgage Servicing Ratio
- A cap on the housing loan portion alone, as a share of gross monthly income. Applies to HDB flats and to executive condominiums bought from a developer. Where it applies, you must satisfy both MSR and TDSR. Read the full explainer →
- LTVLoan-to-Value limit
- The maximum proportion of a property's price or value that a housing loan may cover. It falls if you already have an outstanding housing loan, which raises the cash and CPF you need upfront.
- Accrued interest
- The interest your CPF savings would have earned had you not used them for a property. It compounds while you own the property and must be refunded to your CPF account, together with the principal, when you sell. Read the full explainer →
- IPAIn-Principle Approval
- A bank's indication of how much it is prepared to lend you, based on documents you have submitted, before you commit to a property. Useful as a diagnostic, not just a formality.
- Bridging loan
- Short-term financing covering the gap between paying for a new property and receiving proceeds from a sale. A timing tool, not a solution to an affordability problem.
Public housing
- MOPMinimum Occupation Period
- The period you must physically occupy an HDB flat or EC before you may sell it, and — for flat owners — generally before you may buy private residential property. Read the full explainer →
- ECExecutive Condominium
- A hybrid of public and private housing: sold with eligibility conditions and an MOP, and fully privatised ten years after completion. Read the full explainer →
- Privatisation (EC)
- The point ten years after an EC's completion at which the remaining public housing restrictions fall away and the unit is treated as private property. Read the full explainer →
Transactions
- OTPOption to Purchase
- The document giving a buyer the exclusive right to buy a property within a stated period, granted in exchange for an option fee. Exercising it commits you; letting it lapse usually forfeits the fee.
- Caveat
- A notice lodged against a property title to record a buyer's interest. Lodged caveats are the basis of published transaction data — which is why the most recent weeks of data are always incomplete. Read the full explainer →
- Decoupling
- One co-owner transferring their share of a property to the other, leaving a single owner. Attracts stamp duty on the transfer, requires the remaining owner to refinance alone, and triggers a CPF refund for the exiting owner. Read the full explainer →
- Progressive payment scheme
- The staged payment structure for property under construction, with payments and loan drawdown tied to construction milestones rather than paid in one lump sum. Read the full explainer →
- TOPTemporary Occupation Permit
- The permit allowing a completed building to be occupied. For buyers of property under construction, it is the point at which keys are collected and the bulk of the loan has been disbursed.
- CSCCertificate of Statutory Completion
- Issued after TOP once all requirements are met, marking the formal completion of the development.
Market
- Lease decay
- The gradual effect of a shortening remaining lease on a leasehold property's value, financing and CPF usage. The effect is not linear and becomes more pronounced as the remaining lease shortens.
- En bloc (collective sale)
- The sale of an entire development by its owners to a single buyer, usually a developer, subject to statutory approval thresholds and process requirements.
- GLSGovernment Land Sales
- The programme through which the state releases land for development. GLS announcements are the reliable indicator of future supply in an area.
- Master Plan
- URA's statutory land use plan, showing permitted use and intensity for every site. The authoritative source for what can be built next to a property you are considering.
- Gross rental yield
- Annual rent divided by purchase price. A headline figure that ignores every cost of holding and letting the property. Read the full explainer →
- Net rental yield
- Rental return after maintenance fees, property tax, insurance, repairs, agent commission and an allowance for vacancy. The number that reflects reality. Read the full explainer →