The Short Answer on North Park Central
Homes at North Park Central are bought before completion, so the price is paid under the standard progressive payment scheme for uncompleted private homes. Buyers pay 20% at the start, and the remaining 80% follows construction through to the Certificate of Statutory Completion.
Frasers Property’s own payment schemes for North Park Central accompany the price list on release.
The North Park Central Payment Stages
| Stage | Share of price |
|---|---|
| Option to purchase | 5% |
| Sale and purchase agreement, within 8 weeks | 15% |
| Foundation | 10% |
| Reinforced concrete framework | 10% |
| Partition walls | 5% |
| Roofing and ceiling | 5% |
| Doors, windows, wiring and plumbing | 5% |
| Car park, roads and drains | 5% |
| Temporary Occupation Permit | 25% |
| Certificate of Statutory Completion | 15% |
The sale and purchase agreement for the home chosen sets out the binding schedule.
Cash, CPF and the Bank Loan at North Park Central
The 20% downpayment can mix cash and CPF Ordinary Account savings, with a minimum cash share set by MAS: 5% of the price on a first home loan at the 75% limit. The bank then pays each later stage as it is certified.
Because the loan is drawn in stages, interest is charged only on the amount released so far, and the monthly instalment grows as construction progresses.
Working Out Your North Park Central Figures
The progressive payment calculator shows the bank’s payment and the instalment at every stage for any price, tenure and rate. The TDSR calculator tests the loan against income, and the housing loan page sets out the MAS limits.
A Worked View of the North Park Central Stages
On a first home loan at the 75% limit, the buyer’s own funds cover the first 25% of the price: the 20% downpayment plus the first 5% of the foundation stage. The bank’s first payment covers the remaining 5% of that stage.
From there, the bank pays each certified stage in turn: the reinforced concrete framework, the partition walls, the roofing and ceiling, the doors, windows, wiring and plumbing, and the car park, roads and drains.
The two largest payments come last, 25% at the Temporary Occupation Permit and 15% at the Certificate of Statutory Completion, which together account for 40% of the price.
CPF and the North Park Central 99-Year Lease
North Park Central is planned on a 99-year leasehold title. Under CPF Board rules, Ordinary Account savings can be used in full when the remaining lease covers the youngest buyer to age 95.
A lease of this length leaves ample remaining term for buyers of working age, and CPF Board confirms the amount each household can use at the point of purchase.
Stamp duty is payable within 14 days of signing, alongside the early stages of the downpayment; the stamp duty page sets out the rates.
North Park Central Payment Terms From the Developer
The standard schedule sets the minimum structure, and developers may offer their own payment schemes alongside it. Frasers Property’s payment terms for North Park Central will accompany the price list when it is released.
Registered buyers receive both together, so each option can be compared against household cash flow and the bank loan before the preview.
The Sales Concierge can walk through any scheme on offer, stage by stage, once the terms are issued.
A Summary of the North Park Central Stages
Put simply: 5% when the option to purchase is granted, a further 15% when the sale and purchase agreement is signed within eight weeks, 40% across six construction milestones, 25% at the Temporary Occupation Permit and the final 15% at the Certificate of Statutory Completion.
Of the 20% downpayment, at least 5% of the price is paid in cash on a first home loan at the 75% limit, and the rest may come from CPF Ordinary Account savings, cash or both. On a second or later home loan, the minimum cash payment rises to 25% of the price.
Registered buyers receive the price list and the payment terms together on release, so the stages above can be set against real figures for any home on the shortlist, with the Sales Concierge on hand to work through each one.
Next Steps for North Park Central Buyers
The payment scheme page explains each stage in more detail. To receive the price list and payment terms on release, register on the contact page or call +65 6200 6220.
Receive North Park Central Releases First
The e-brochure, floor plans, price list and preview invitations go to registered buyers first. Showflat viewings are arranged by appointment through the Sales Concierge.