{"id":106899,"date":"2019-05-07T11:10:36","date_gmt":"2019-05-07T04:10:36","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/can-you-get-deferred-payment-scheme-for-your-new-home\/"},"modified":"2019-05-07T12:04:16","modified_gmt":"2019-05-07T05:04:16","slug":"can-you-get-deferred-payment-scheme-for-your-new-home","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/can-you-get-deferred-payment-scheme-for-your-new-home\/","title":{"rendered":"Can You Get Deferred Payment Scheme For Your New Home?"},"content":{"rendered":"


\nWith property cooling measures such as the Additional Buyer\u2019s Stamp Duty (ABSD), developers have implemented several different methods to improve sales. One method is the Deferred Payment Scheme (DPS).
\nThe Ministry of National Development has called on property buyers to \u201cexercise due diligence and prudence\u201d before committing to acquire a property under a deferred payment scheme.
\nThis comes as such schemes are only applicable for completed private residential developments.
\n\u201cSince October 2007, the government has disallowed deferred payment schemes for uncompleted private residential properties,\u201d said the ministry in a written answer to Parliament on Monday (6 May).
\nIt made the statement in response to MP Zainal Sapari\u2019s query on the ministry\u2019s position on developers offering two-year deferments to potential buyers.
\nALSO READ:\u00a0Attractive Deferred Payment Schemes For Condominiums In Singapore
\nHe also asked whether the buyer and seller stamp duty will be based on the date of signing the Option-to-Purchase or the Sale and Purchase (S&P) Agreement.
\nTo this, the ministry explained that a unit is only considered sold once the S&P Agreement has been executed.
\nThis means the buyer\u2019s and seller\u2019s stamp duties will be based on the date of signing of the S&P Agreement.
\n\u201cLikewise to qualify for ABSD remission, developers will have to ensure that all units within the development are sold, with the S&P Agreements executed, within the prescribed period of five years,\u201d it added.
\nHome buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nFiona Ho, Digital Content Manager at PropertyGuru, edited this story. To contact her about this or other stories, email\u00a0fiona@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Can You Get Deferred Payment Scheme For Your New Home?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

With property cooling measures such as the Additional Buyer\u2019s Stamp Duty (ABSD), developers have implemented...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-106899","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-rOb","jetpack-related-posts":[{"id":23025,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mas-clarifies-rules-for-deferred-payments\/","url_meta":{"origin":106899,"position":0},"title":"MAS clarifies rules for deferred payments","date":"August 16, 2016","format":false,"excerpt":"\r Banks must factor in deferred payment schemes when determining how much buyers can borrow, said the MAS.\u00a0 The Monetary Authority of Singapore (MAS) has clarified that deferred payment schemes should be taken into account by banks when computing how much a private property buyer can borrow, reported The Straits\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":40543,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-developers-dangling-carrots-to-move-units\/","url_meta":{"origin":106899,"position":1},"title":"More developers dangling carrots to move units","date":"January 13, 2017","format":false,"excerpt":"\r Some of the incentives offered include significant discounts on the prices of completed units. More condo developers are offering incentives, such as deferred payment schemes to lure home buyers, following its success in moving units last year, reported The Straits Times. Among the latest projects to offer such marketing\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":101015,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-builders-come-up-with-flexible-payment-plans-to-woo-buyers-as-sales-come-to-a-halt\/","url_meta":{"origin":106899,"position":2},"title":"Hong Kong builders come up with flexible payment plans to woo buyers as sales come to a halt","date":"November 8, 2018","format":false,"excerpt":"\r As Hong Kong\u2019s property market takes a turn for the worse, some developers are coming up with novel payment schemes to offload flats amid fears sentiment could sour further. On Wednesday, Wheelock Properties announced a deferred payment plan along with steep discounts across five of its developments \u2013 Monterey,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":40549,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-developers-have-their-creative-marketing-hats-on\/","url_meta":{"origin":106899,"position":3},"title":"Singapore developers have their creative marketing hats on","date":"January 13, 2017","format":false,"excerpt":"\r It\u2019s no longer a case of \u2018if you build, they will come\u2019 A struggling market, but we still love it. Image: Feylite\/Shutterstock. We\u2019ve heard it all now, free breakfasts, drone deliveries and special pizza lifts. Developers the world over are on a mission to keep the edge over their\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":50197,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pollen-amp-bleu-relaunched-with-deferred-payment-scheme\/","url_meta":{"origin":106899,"position":4},"title":"Pollen &amp; Bleu relaunched with deferred payment scheme","date":"March 30, 2017","format":false,"excerpt":"\r Artist\u2019s impression of Pollen & Bleu, a 106-unit condominium project in Farrer Drive. Pollen & Bleu, an eight-storey condominium project in District 10, has attracted keen interest since its relaunch in February, with 83 percent of the units released sold, revealed CBRE, which is jointly marketing the project with\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":28767,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-home-market-unaffected-by-indonesian-tax-amnesty-2\/","url_meta":{"origin":106899,"position":5},"title":"Singapore home market unaffected by Indonesian tax amnesty","date":"October 6, 2016","format":false,"excerpt":"\r Lower than expected liquidation since the introduction of the tax amnesty program The implementation of the Tax Amnesty Scheme (TAS) in Indonesia has not had any material impact on Singapore\u2019s residential segment, said Credit Suisse in a report. Credit Suisse noted that Indonesians have historically been amongst the largest\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/106899"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=106899"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/106899\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=106899"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=106899"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=106899"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}