The buyer's timeline for a new launch: from balloting to keys

The new launch sequence, start to finish

Buying a new launch in Singapore follows a fairly fixed sequence. Knowing the steps in advance removes most of the pressure on the day - you are not working out what "balloting" means while a queue forms behind you. Here is the timeline, stage by stage.

1. Preview and the showflat

Before a project is officially launched, the developer holds a preview. The showflat opens, an indicative price list is shared, and you can view layouts, study the site plan and register your interest. Nothing is committed at this stage - preview is for research. Use it to shortlist the stacks and unit types you would actually want.

2. Booking day and balloting

On the official launch (booking) day, units are released for sale. When demand is high, the developer runs a ballot - a randomised draw that sets the order in which buyers choose. Your ballot position decides when you get to pick from whatever units are still available.

• Preview is research, with no commitment.
• Booking day releases the units; balloting sets your selection order.
• Have ranked choices ready, because your first pick may already be taken when your turn comes.

3. Booking fee and the Option to Purchase

When you select a unit, you pay a booking fee - a percentage of the purchase price - and the developer issues an Option to Purchase (OTP). The unit is then held for you. You should already have an in-principle loan approval in hand, because the next steps run on a clock.

4. The Sale & Purchase Agreement

Within a few weeks, the developer delivers the Sale & Purchase Agreement (S&P). You have a set period to exercise it - sign and return it - and to pay the next portion of the price. Your stamp duties generally fall due shortly after the S&P is signed. Your conveyancing lawyer handles the mechanics.

5. Progressive payments during construction

Because a new launch is built after you buy it, you pay for it progressively, in instalments tied to construction milestones - foundation, framework, walls, roofing and finishes. Your bank loan is drawn down in matching stages, so the monthly repayment starts small and rises as the building goes up. Our separate guide on the Progressive Payment Scheme covers this in detail.

6. Temporary Occupation Permit - collecting keys

When the project is built and certified fit for occupation, it receives its Temporary Occupation Permit (TOP). This is the milestone buyers wait for: you collect your keys, the unit becomes yours to occupy or lease, and you carry out the defects inspection - listing anything for the developer to put right during the defects liability period.

7. Certificate of Statutory Completion

Some time after TOP, the project receives its Certificate of Statutory Completion (CSC) - the final legal sign-off - and the last payment is made. Legal title is transferred to you.

How long does it all take?

From booking day to TOP is typically a few years - the project is, after all, being built during that time. The early stages, from preview to S&P, move quickly, often within weeks; the long wait is the construction period. Check the projected TOP for any specific project, and treat developer timelines as estimates.

What to prepare before booking day

• An in-principle loan approval, so you know your budget and can act fast.
• Cash for the booking fee and, soon after, the stamp duties.
• A ranked shortlist of unit types and stacks.
• A conveyancing lawyer ready to act.

The buyers who find launch day stressful are usually the ones still making basic decisions on the day. The ones who find it manageable did the thinking during preview. A licensed salesperson can walk you through the sequence for a specific project before you commit to anything.