Buying Under Construction at Union Square Residences

Published 15 October 2026 · Figures as at October 2026

Union Square Residences Is Sold Under Construction

Union Square Residences was launched in November 2024 and is being built. Homes are sold on the normal progressive payment scheme, where the price is paid in stages that follow construction, from the booking fee to the final payment at statutory completion.

Buying partway through construction works the same way, except that some stages may already have been certified when the unit is booked.

The Stages at Union Square Residences

The Housing Developers Rules set the stages: 5% on the option, 15% at the sale and purchase agreement, then 10% each for the foundation and the reinforced concrete framework, 5% each for partition walls, roofing and ceiling, doors and windows with wiring and plumbing, and car park, roads and drains, then 25% at TOP and 15% at statutory completion.

The payment scheme page sets the stages out with the cumulative share at each step.

Stages Already Certified at Union Square Residences

When a stage has already been certified before booking, its instalment becomes payable on the timetable in the sale and purchase agreement. In practice that means a larger sum early on, much of it drawn from the bank loan once the buyer’s own share has been paid.

The Sales Concierge confirms which stages have been reached for a particular unit at the time of booking, so the schedule can be worked out in advance.

The Buyer’s Own Share at Union Square Residences

With no outstanding housing loan, a buyer may borrow up to 75% of the price. The first 25% comes from the buyer: at least 5% in cash, which the booking fee covers, and the other 20% from cash or CPF Ordinary Account savings within CPF rules.

Whatever the purchase figure, that is a quarter of it from the buyer’s own funds before stamp duty, of which the 5% booking fee is cash. The progressive payment calculator works it through on an illustrative figure.

How the Loan Is Drawn at Union Square Residences

After the buyer’s share, the bank pays each certified stage. Interest is charged only on what has been drawn, so repayments start smaller and rise as the tower approaches completion.

A buyer arriving after several stages are certified will see a higher initial drawdown, and therefore a higher repayment from the start, than one who booked at launch. The progressive payment calculator models the stages.

Completion Dates for Union Square Residences

The developer’s particulars give the expected date of vacant possession as 15 March 2031 and the expected date of legal completion as 15 March 2034. CDL’s October 2024 release targeted completion of the development in 2029.

The 25% instalment is due at the Temporary Occupation Permit and the final 15% at the Certificate of Statutory Completion.

Living Elsewhere While Union Square Residences Is Built

Most buyers of a home under construction continue to live where they are until completion, so the household budget needs to carry rent or an existing mortgage alongside the rising instalments.

Upgraders who still own a home when they sign will also pay ABSD on the second property, refundable for married couples who sell within the period IRAS allows. The stamp duty page explains the rules.

Lower Loan Limits at Union Square Residences

A tenure longer than 30 years, or a loan running past age 65, moves the borrower into the lower LTV band: 55% instead of 75% for a first loan, with 10% minimum cash. That raises the upfront sum considerably.

The TDSR calculator checks both the income test and the LTV limit, and the housing loan page sets out the rules.

Planning a Union Square Residences Purchase

The quickest way to see the full picture is a schedule for a specific unit: price, stamp duty, the stages already certified and the instalments to come. The Sales Concierge prepares one on request with the current price list.

Showflat viewings are arranged by appointment through the Sales Concierge.

This article is general information as at the date shown and is not financial, legal or tax advice. Statutory figures are from IRAS and MAS; particulars of Union Square Residences are from the developer’s brochure and announcements, and sales figures from published caveat reports.