Singapore Property Terms Glossary: ABSD to Vacant Possession

Singapore property has its own shorthand: ABSD, psf ppr, TDSR and DLP can all come up in one showflat conversation. This glossary explains the terms you are most likely to meet when buying a new launch condo such as LinkTown Residences (Hougang Central Residences), in plain English and in alphabetical order.

Definitions are kept short. Where we have a detailed guide on a topic, the term links to it. For the full buying sequence, see our complete guide to buying a new launch condo.

A

ABSD (Additional Buyer’s Stamp Duty) — A stamp duty paid on top of BSD by certain buyers. Singapore Citizens pay 0% on a first home, 20% on a second and 30% on a third or more; PRs pay 5%, 30% and 35%; foreigners pay 60%. Joint purchases pay the highest rate among the buyers. See our stamp duty guide.

AC ledge — A ledge outside the unit where air-conditioner condensers sit. It may be included in the strata area you pay for, even though you cannot use it as living space.

Annual Value (AV) — The estimated annual rent a property could fetch if let out. IRAS uses it to calculate property tax.

B

Balance chart — A chart showing which units in a launch remain unsold. Explained in our guide to price lists and charts.

Bay window — A window that projects outward, usually with a ledge inside. Rules on counting such areas in floor area have tightened over the years.

BSD (Buyer’s Stamp Duty) — Stamp duty paid by every property buyer on a tiered scale: 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$1.5 million and 6% on the rest. On S$1.7 million, BSD is S$54,600. Due within 14 days of exercising the OTP.

BUC (building under construction) — A property bought before completion. Buyers pay in stages as construction progresses.

C

CCR (Core Central Region) — URA’s prime market segment: postal districts 9, 10 and 11, the Downtown Core and Sentosa. See OCR, RCR and CCR explained.

CPF OA (CPF Ordinary Account) — The CPF account that can pay part of the down payment beyond the minimum 5% cash, reimburse BSD and cover monthly instalments, within the Valuation Limit and Withdrawal Limit. See using CPF for a private condo.

CSC (Certificate of Statutory Completion) — Issued when a development meets all statutory requirements, usually after TOP. The final 15% of the price is due at CSC.

D

DLP (defects liability period) — The period during which the developer must fix defects, usually 12 months from vacant possession.

DPS (Deferred Payment Scheme) — A payment option some developers offer, where a portion is paid upfront and the bulk at TOP. Typically priced higher than the normal scheme. See DPS vs progressive payment.

Dual-key unit — A main unit plus a studio sharing a common entrance foyer, under one strata title, so it counts as one property for ABSD. Not confirmed for LinkTown Residences. See dual-key units explained.

E

EC (executive condominium) — A condo sold by private developers under HDB rules, with income ceilings, eligibility schemes, an MOP (five years for current ECs, ten years for sites tendered from 8 May 2026) and resale restrictions until full privatisation. LinkTown Residences is not an EC; here is why.

Efficiency — How much of a unit’s strata area is usable internal space.

Elevation chart — A diagram showing each block’s stacks and floors, used to locate units and compare heights.

EOI (Expression of Interest) — A form, usually with a cheque or cashier’s order, signalling interest in a launch before booking day. It is not a purchase. See our booking day guide.

F

Freehold — Ownership with no time limit. Scarcer and usually priced higher than leasehold. See leasehold vs freehold.

G

GFA (gross floor area) — The total built floor area allowed on a site, broadly the site area multiplied by the plot ratio. The Hougang Central site has a GFA of about 1.27 million sq ft.

GLS (Government Land Sales) — The programme through which the state sells land to developers by tender. LinkTown Residences sits on the Hougang Central GLS site.

H

HDB MOP (Minimum Occupation Period) — The period HDB flat owners must live in their flat before they can sell it or, generally, buy a private property. Five years for most flats; check HDB for your flat’s terms. See HDB MOP and upgrade timing.

Household shelter — A reinforced room (often called the bomb shelter) required in many new homes. Often used as a store room; counted in strata area.

I

Integrated development — A development combining homes with other uses such as a mall, transport hub or community facilities on one site. See what is an integrated development.

IPA (In-Principle Approval) — A bank’s preliminary indication of how much it will lend you. Get one before booking day. See our home loan guide.

J

JT (joint tenancy) — Co-ownership where each owner holds the whole property jointly; if one dies, their interest passes to the survivor. Compare TIC below, and see joint tenancy vs tenancy in common.

L

Leasehold — Ownership for a fixed term, commonly 99 years for private condos on GLS sites. Value tends to decline as the lease runs down, and remaining lease affects CPF usage and loans.

Lock-in period — A period during which repaying or refinancing a loan triggers a penalty. Common on both fixed and floating packages.

LTV (loan-to-value) limit — The maximum loan as a percentage of price or valuation. 75% for a first housing loan (tenure up to 30 years), then 45% and 35% for subsequent loans, with at least 5% cash on a first loan.

M

Management fund — The part of maintenance fees that pays for day-to-day running: cleaning, security, landscaping and the managing agent.

MCST (Management Corporation Strata Title) — The body of all owners that manages a condo’s common property and sets maintenance fees. The developer manages until it is formed. See maintenance fees explained.

MSR (Mortgage Servicing Ratio) — A cap on mortgage repayments as a share of income for HDB flats and ECs. It does not apply to private condos; TDSR does.

N

NPS (Normal Payment Scheme) — Another name for the standard progressive payment scheme on BUC purchases.

O

OCR (Outside Central Region) — URA’s market segment covering areas outside the CCR and RCR, including Hougang (District 19). Typically the most affordable private segment.

OTP (Option to Purchase) — The document you receive after paying the 5% booking fee. Exercising it by signing the S&P commits you to the purchase.

P

PES (private enclosed space) — A private outdoor area attached to some ground-floor units. Counted in strata area.

Plot ratio — The ratio of GFA to site area set by URA. Hougang Central has a plot ratio of 2.5.

Progressive payment — Paying for a BUC unit in stages tied to construction milestones, from 5% at OTP to 15% at CSC. See the progressive payment guide.

psf (per square foot) — Price divided by strata area. Small units usually carry a higher psf than large ones.

psf ppr (per square foot per plot ratio) — The land price per square foot of permissible GFA; the standard yardstick for land bids. The Hougang Central site went for S$1,179 psf ppr. See the land bid analysis.

R

RCR (Rest of Central Region) — The city-fringe market segment between the CCR and OCR.

Refinancing — Moving your loan to a new package or bank, commonly after a lock-in ends.

S

S&P (Sale and Purchase Agreement) — The contract between buyer and developer, usually signed within about three weeks of the OTP. The next 15% is typically due within about eight weeks of the OTP date.

Share value — The number of shares allotted to each unit in a strata development, broadly linked to size. Maintenance fees and voting weight follow share value.

Sinking fund — The part of maintenance fees set aside for long-term items such as repainting and replacing lifts or pumps.

SORA (Singapore Overnight Rate Average) — The benchmark rate most floating home loans are pegged to. See SORA explained.

SSD (Seller’s Stamp Duty) — Paid when selling within the holding period. For homes bought on or after 4 July 2025, as announced: 16%, 12%, 8% and 4% for sales within years one to four, and none after. See SSD and sub-sale.

Strata area — The total area on a unit’s strata title, which can include AC ledges, bay windows, PES, the household shelter and voids. Learn to read it in our floor plan guide.

Stress test — Banks assess TDSR using a notional interest rate (4% for private property) rather than today’s rate.

Sub-sale — Selling an uncompleted unit before CSC. The buyer takes over the remaining progressive payments. SSD may apply.

T

TDSR (Total Debt Servicing Ratio) — Caps all monthly debt repayments at 55% of gross monthly income.

TIC (tenancy in common) — Co-ownership in defined shares, each of which passes by will or intestacy rather than to the surviving owner.

TOP (Temporary Occupation Permit) — Permission to occupy a completed building. You collect keys after TOP and pay 25% of the price. See TOP, CSC and key collection.

U

URA Master Plan — The statutory land use plan that guides Singapore’s development over the medium term, showing zoning and plot ratios.

V

Vacant possession — Handover of an empty unit to the buyer. The notice of vacant possession starts the handover and the defects liability period.

Valuation — A bank’s assessment of a property’s value. Loans are based on the lower of price or valuation; any shortfall is paid in cash. See bank valuation shortfall.

Valuation Limit (VL) — For CPF purposes, the lower of the purchase price or valuation at purchase. CPF usage beyond it is restricted.

W

Withdrawal Limit — The cap on CPF usage for a property, set at 120% of the Valuation Limit, unless the Basic Retirement Sum is set aside.

Putting the terms to use

Most of these terms will surface at the showflat and on booking day for the Hougang Central condo, expected to launch in early 2027. If you would like the floor plans, price list and launch details for LinkTown Residences when they are released, register your interest.

Definitions are simplified for general understanding. Rates and limits are as published and may change; verify with IRAS, MAS, CPF Board, HDB, URA and your bank or lawyer. This is general information, not financial or legal advice.

For questions about LinkTown Residences itself, see the project FAQ.