To buy a S$1,000,000 condo in Singapore as of 2026-05, you need a combined gross monthly income of around S$13,500 if you take a 75% loan at the current floating rate of 1.27% p.a. over 25 years. The exact number depends on your existing debts (the TDSR limit caps total monthly debt at 55% of income) and the loan rate at application time.
The quick math for a S$1M condo
Buy price S$1,000,000. Bank loan = 75% = S$750,000. Source: MAS.
At the current 3-month SORA floating rate of 1.27% p.a. (lowest available May 2026), the monthly instalment over 25 years is approximately S$2,910.
The Total Debt Servicing Ratio (TDSR) caps your total monthly debt obligations at 55% of gross monthly income as of 2026. Source: MAS Notice 804.
Required minimum gross income = S$2,910 / 0.55 = approximately S$5,290/month — assuming zero existing debt.
For a stress-tested view, MAS requires banks to use a medium-term interest rate floor of 4% p.a. when computing TDSR eligibility. At 4%, the S$750,000 loan payment rises to S$3,957, requiring gross income of S$7,195/month minimum.
Worked example: dual-income couple, no existing debt
| Item | Amount |
|---|---|
| Purchase price | S$1,000,000 |
| Bank loan (75% LTV) | S$750,000 |
| Cash + CPF downpayment (25%) | S$250,000 |
| Buyer's Stamp Duty (BSD) | S$24,600 |
| Monthly instalment @ 1.27% / 25 yrs (actual) | S$2,910 |
| Monthly instalment @ 4% stress test | S$3,957 |
| Min combined gross income (TDSR + stress) | S$7,195 |
| Comfortable combined gross income (≤30% on housing) | S$13,500 |
The S$13,500 figure assumes the conservative housing-cost-to-income ratio of 30%, which leaves room for other commitments. The MAS stress-test floor (S$7,195) is the absolute regulatory minimum.
Three ways to reduce the required income
- Increase the loan tenure: Extending from 25 to 30 years drops monthly instalment by approximately 12%, reducing the required income by the same proportion. Maximum tenure is 30 years for private property per MAS.
- Use more CPF for downpayment: Higher downpayment means smaller loan, lower monthly instalment, lower required income.
- Clear existing debts before applying: Every S$1,000 of monthly debt obligation effectively requires S$1,818 of additional gross income at the 55% TDSR threshold.
For the full picture of how income translates into loan eligibility, see our Singapore home loan framework.
Frequently asked questions
Does the S$13,500 figure include CPF contributions?
Yes — gross income for TDSR includes the CPF-deductible portion. Banks use your gross salary before CPF deduction.
Can I include rental income to qualify?
Yes, but banks apply a 30% haircut to rental income for TDSR purposes (i.e. only 70% of declared rental counts).
What if one buyer is foreign?
ABSD of 60% applies to foreigners as of 2026-05, adding S$600,000 to the upfront cost of a S$1M condo. Source: IRAS.