Artist’s impression. Illustrative only, not the development.Homes at The Island Residence will be sold before completion, on the normal progressive payment scheme: the price is paid in instalments that follow construction, from the booking fee to the final payment at statutory completion.
The Island Residence Progressive Payment Stages
The stages and percentages are prescribed by the Housing Developers Rules for a building under construction. The right-hand column shows the running total.
| Stage | % of price | Cumulative |
|---|---|---|
| Booking fee, on grant of the option to purchase | 5% | 5% |
| Sale and purchase agreement, within 8 weeks | 15% | 20% |
| Completion of foundation | 10% | 30% |
| Completion of reinforced concrete framework | 10% | 40% |
| Completion of partition walls | 5% | 45% |
| Completion of roofing and ceiling | 5% | 50% |
| Completion of doors, windows, electrical wiring and plumbing | 5% | 55% |
| Completion of car park, roads and drains | 5% | 60% |
| Temporary Occupation Permit (TOP) | 25% | 85% |
| Certificate of Statutory Completion | 15% | 100% |
Standard schedule for a building under construction under the Housing Developers Rules, checked 9 October 2026. The developer’s sale and purchase agreement governs, and the Sales Concierge confirms any stages already certified at the time of booking.
Cash, CPF and the Loan at The Island Residence
The 5% booking fee is paid in cash. The part of the price the bank does not lend is paid next, before any loan is drawn, and MAS sets how much of it must be cash. With no housing loan outstanding, a buyer may borrow up to 75%: of the 25% paid first, at least 5% is cash, which the booking fee covers, and the other 20% may come from cash or CPF Ordinary Account savings within CPF rules.
| Borrower | Max loan | Own funds | Minimum cash |
|---|---|---|---|
| No outstanding housing loan | 75% | 25% | 5% |
| No outstanding loan, tenure over 30 years or past age 65 | 55% | 45% | 10% |
| One outstanding housing loan | 45% | 55% | 25% |
| Two or more outstanding housing loans | 35% | 65% | 25% |
Source: MAS, checked 9 October 2026 (mas.gov.sg). Limits can change; confirm with MAS or a bank before signing.
At 75% financing, the booking fee and the 15% on signing bring the buyer to 20%; half of the foundation instalment completes the 25%, and from then on the bank pays each certified stage. The housing loan page explains when the lower limits apply.
How a Loan for The Island Residence Is Drawn
When a stage is certified, the developer issues a notice and the bank releases that instalment. Interest during construction is charged only on the amount drawn, so repayments begin small and grow as the building rises.
The expected dates of vacant possession and legal completion will be stated in the developer’s documents at release; the 25% instalment falls due on TOP, and the final 15% on the Certificate of Statutory Completion.
Planning a Purchase at The Island Residence
Stamp duty is paid separately and early, as the stamp duty page sets out. The progressive payment calculator gives the amount and the estimated monthly instalment at each stage for any price, loan tenure and rate, and the TDSR calculator sizes the loan before the preview.
Register Your Interest in The Island Residence
Registration puts you on the preview list for The Island Residence on Keppel Island. The Sales Concierge sends each document as the developer releases it and arranges a private preview appointment at a time that suits you.
What the Sales Concierge sends
- The e-brochure and the full project details on the day they are released.
- Every floor plan and the site plan with its facilities, as soon as the developer publishes them.
- The price list and the balance units chart at launch, before public release where the developer allows.
- A private showflat appointment once the sales gallery opens.
Register Your Interest
No obligation. The Sales Concierge responds personally to every enquiry.
To talk it through instead, call +65 6200 6220 or send a WhatsApp message to the same number.