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Progressive payment for a new launch stretches the purchase over the construction period — typically 3 to 4 years from option exercise to Temporary Occupation Permit (TOP). This changes how CPF flows into the purchase compared with a resale transaction.

The CPF stages

1. Booking fee (5% of purchase price): cash only
2. Option exercise (15% of purchase price): CPF Ordinary Account (OA) or cash, within 8 weeks of booking
3. Stamp duties (BSD + any ABSD): CPF OA or cash, within 14 days of option exercise
4. Progressive payments during construction: bank loan drawdown, typically 50–60% of purchase price overall
5. TOP, CSC, and final payments: mix of CPF and bank loan per the progressive schedule

Limits to watch

The CPF withdrawal limit caps total CPF usage at 120% of valuation limit for bank-financed purchases. For private property, the valuation limit is typically the purchase price or market value (whichever is lower).

A common misconception is that stamp duties can be deferred using CPF reimbursement. In practice, BSD and ABSD must be paid in cash first and reimbursed from CPF OA after — the cash must be available upfront.

Speak to an IFPAS-registered financial adviser for a personalised projection, especially if you are using both CPF and significant cash.