How much does a condo renovation cost in Singapore, and where does the money go?
The Lendela Team
November 11th, 2026
Table of contents
- Expect about $44,000 to $62,000 for a new condo and $78,000 to $105,000 for a resale condo (Qanvast, 2026 estimates).
- New condo budgets go on carpentry and finishing; resale budgets go on groundwork such as hacking, piping and wiring.
- The MCST adds a refundable deposit of about $500 to $5,000, its own working hours and approval for works that change the building's appearance.
- Allow 8 to 12 weeks of works plus 1 to 4 weeks for MCST approval, and budget for mortgage instalments during that time.
- CPF cannot be used for renovation, and a renovation loan is capped at the lower of six times monthly income or $30,000.
A new condo renovation in Singapore typically costs about $44,000 to $62,000, and a resale condo about $78,000 to $105,000, based on Qanvast's 2026 projections from 254 condo renovations on its platform. That puts a new condo close to a 4-room BTO flat ($50,000 to $60,000) and a resale condo in the same band as a 5-room resale flat ($80,800 to $98,900). What differs is the shape of the spend. New condos usually come with a kitchen, wardrobes and air-conditioning from the developer, so the budget goes on carpentry, storage and lighting. Resale condos often need hacking, re-piping, rewiring and new bathrooms, and older estates can hide repairs such as water seepage. Condos also add costs an HDB flat does not: a refundable renovation deposit to the management corporation (MCST), typically $500 to $5,000, by-laws on working hours, protection for lifts and corridors, and approval for anything that changes the look of the building. Time costs money too. A resale condo renovation takes about 10 to 12 weeks, plus up to a month for MCST approval, while your mortgage instalments are already running. CPF cannot be used for renovation, and a renovation loan is capped at six times your monthly income or $30,000, whichever is lower.
How much does a condo renovation cost compared with an HDB flat?
A new condo costs about the same as a 4-room BTO to renovate, and a resale condo about the same as a 5-room resale flat. These are Qanvast's 2026 projections, based on median project costs on its platform in 2025:
Home type | Typical renovation cost |
|---|---|
New condo | $44,290 to $62,160 |
Resale condo | $78,280 to $105,000 |
4-room BTO | $50,000 to $60,000 |
4-room resale HDB | $70,000 to $81,600 |
5-room BTO | $60,600 to $76,500 |
5-room resale HDB | $80,800 to $98,900 |
The new condo figure is lower than some owners expect, because new condos come with developer fittings while a BTO is handed over far barer. Unit size still matters. Hometrust's guide puts a 1-bedroom condo at about $15,000 to $30,000 and a 3-bedroom at about $40,000 to $60,000 or more, depending on how much you change. If you are still deciding between the two property types, our guide to HDB vs condo affordability compares the loan limits.
Where does the money go in a condo renovation?
Carpentry is the single largest item. Qanvast's 2026 budgeting report, a survey of over 300 homeowners, found carpentry took the largest share of spending. One industry estimate, from Smart Calculator, splits a typical budget like this:
Category | Indicative share of budget |
|---|---|
Carpentry | 35 to 45% |
Kitchen | 12 to 20% |
Each bathroom | 8 to 15% |
Flooring | 8 to 14% |
Electrical and lighting | 6 to 10% |
Air-conditioning | 4 to 7% |
Painting | 3 to 6% |
Contingency | 10 to 15% |
Condos also cost a little more per item. Ceilings are usually taller, so false ceilings run about $6 to $12 per square foot against $4 to $10 in an HDB flat, and painting about $1,100 to $1,900 against $1,000 to $1,700. Pipes are often concealed, which means more hacking to reach them. Carpentry rates vary widely by design: published estimates put kitchen cabinets at about $110 to $320 per foot run and wardrobes at $200 to $350.
Why does a new condo cost less to renovate than a resale one?
Because the developer has already paid for much of the work. A new condo's sale specifications commonly include kitchen cabinets with a stone countertop, built-in appliances, bedroom wardrobes and wall-mounted air-conditioning. Spending then goes on choices: extra storage, display carpentry and lighting.
A resale condo's spending goes on groundwork. Typical items include:
Hacking non-load-bearing walls: about $1,500 to $3,000
Reinstating floors and walls: about $3 to $10 per square foot
New power points: about $80 to $120 each
Bathroom re-hacking, re-piping and rewiring in estates that are 20 to 30 years old
For a new condo, timing matters too. URA states that developers fix defects within a one-year defects liability period after key collection. Renovating straight away can make it harder to prove whether a defect came from the builder or your contractor, so record defects before works begin.
What does the MCST add to a condo renovation?
A second set of rules on top of the government's. In an HDB flat, HDB issues the permits and your contractor must be on the HDB Directory of Renovation Contractors. In a condo, the MCST's by-laws also apply, and each estate sets its own:
HDB flat | Condo | |
|---|---|---|
Who approves | HDB permits for works such as hacking walls or replacing floor finishes | MCST approval, plus BCA where structural works are involved |
Contractor | Must be listed in the HDB Directory of Renovation Contractors | Details submitted to the MCST; licensed electrical worker for rewiring; approved window contractor for windows |
Working hours | Noisy works Monday to Friday, 9am to 5pm | Set by each MCST, commonly weekdays 9am to 5pm, some allowing Saturday mornings |
MCST renovation deposit | Not applicable | Refundable, about $500 to $5,000 |
Under the Building Maintenance and Strata Management Act, works that affect the appearance of the building need the MCST's authority, and adding floor area needs a 90% resolution of owners. MCST approval typically takes about 1 to 2 weeks for simple works and 3 to 4 weeks where hacking or wet works are involved. BCA requires structural changes to be assessed by a Professional Engineer and approved by the Commissioner of Building Control. Getting this wrong is expensive: in a 2020 High Court case, an owner's unapproved sliding glass door was found to have changed the development's appearance. Budget too for lift and corridor protection, daily debris removal and possible fines for breaking estate rules.
How long does a condo renovation take, and what does the wait cost?
Qanvast puts a new condo at about 8 to 10 weeks and a resale condo at 10 to 12 weeks. Add 1 to 4 weeks for MCST approval before works can start.
The wait has a price:
Mortgage instalments. For a condo bought under construction, instalments start from the first loan disbursement and step up at each stage. The largest step often comes at the Temporary Occupation Permit (TOP), which is when you collect keys and renovate. For a resale condo, full instalments run from completion.
Rent. If you rent while renovating, a flexible 2-bedroom rental at a median of about $5,000 a month (Cove, April 2026) adds about $15,000 over three months.
Plan for both in the same budget as the renovation itself. Our guide on how to budget for a property purchase covers the wider costs of buying.
How do you pay for a condo renovation?
Usually with a mix of savings and a renovation loan, because CPF is not an option. The CPF Board states that CPF savings "cannot be used for renovation, improvement or repair work for your property".
A bank renovation loan is capped by MAS at the lower of six times your monthly income or $30,000, with a repayment period of up to five years. Banks typically pay your contractor directly, and the loan cannot be used for furniture. Our guides to the best renovation loans and the renovation loan calculator cover rates and repayments, and contractor financing vs a bank loan explains what to check in an in-house plan.
Here is how the cap plays out on an illustrative resale budget:
Amount | |
|---|---|
Resale condo renovation | $90,000 |
Monthly income | $8,000 |
Six times monthly income | $48,000 |
Renovation loan cap (the lower figure) | $30,000 |
Left to fund from savings or other borrowing | $60,000 |
Breaking the project into specific tickets helps: fund the works with savings and the renovation loan, and plan furniture and appliances separately. Our guide to the real cost of furnishing a flat helps you price that part. A renovation loan also counts in your TDSR when you next apply for or refinance a home loan, so factor it in if a move is likely within five years.
If you need a renovation loan, one application through Lendela reaches 70+ banks and financial institutions, and applicants typically hear from more than 10 banks and financial institutions. Compare renovation loan offers once you have your contractor's quote.
Where do condo renovation budgets usually overrun?
Homeowners told Qanvast that hidden costs were by far their biggest renovation worry. In a condo, they tend to appear in five places:
Air-conditioning in resale units. Replacing an old system can be a large unplanned item, and one industry estimate puts condo installations at 10 to 20% more than an equivalent HDB job because of access and longer piping.
Windows, balconies and the facade. These need MCST approval and sometimes BCA, and unapproved works can mean reinstatement at your cost.
Concealed piping and taller ceilings. More hacking and more material than the same job in an HDB flat.
Older estates. Seepage, loose tiles and worn parquet often appear only once fittings come out.
Estate rules. Daily debris removal, limited hacking days and fines add cost and time.
A contingency of 10 to 15% of the budget gives you room for these. Our guide to the aircon overhaul covers when replacing makes more sense than repairing.
Frequently asked questions
How much does it cost to renovate a condo in Singapore?
Qanvast's 2026 projections put a new condo at about $44,000 to $62,000 and a resale condo at about $78,000 to $105,000. Resale condos cost more because they usually need hacking, re-piping, rewiring and new bathrooms. Your own cost depends on the unit size, its age and how much you change.
How much is the renovation deposit for a condo?
It is set by each MCST, and published examples range from about $500 to $5,000. The deposit is refundable once the MCST has inspected the common areas after works finish and found no damage. Check your estate's by-laws or ask the managing agent before you budget.
Do I need MCST approval to renovate my condo?
Yes, in practice. Works that affect the building's appearance, such as windows, grilles or balcony changes, need the MCST's authority under the Building Maintenance and Strata Management Act. Structural changes also need a Professional Engineer's assessment and approval from the Commissioner of Building Control.
How long does a condo renovation take?
About 8 to 10 weeks for a new condo and 10 to 12 weeks for a resale condo, based on Qanvast's estimates. Add 1 to 4 weeks for MCST approval before works start. Estate rules on working hours and hacking days can stretch the schedule further.
Can I use CPF or a renovation loan for a condo renovation?
You cannot use CPF, because the CPF Board does not allow CPF savings for renovation, improvement or repair work. You can take a bank renovation loan of up to six times your monthly income or $30,000, whichever is lower, repaid over up to five years. Banks typically pay the contractor directly, and the loan cannot be used for furniture.
Read more
Lendela is a loan matching platform helping people in Singapore and Hong Kong see personalised offers from 70+ banks and financial institutions through one application, privately and without impacting their credit score.
Sources: Qanvast condo and HDB renovation cost guides (February 2026) and 2026 renovation budgeting report (March 2026); Hometrust; Smart Calculator (May 2026); 99.co; Uchify (August 2025); BCA guidance for condo owners (updated 26 January 2026) and advisory on control of renovation works; HDB MyNiceHome renovation guide (updated 24 June 2026); URA; CPF Board (updated 7 November 2025); MAS Notice 635; Cove (April 2026). Accessed 11 November 2026. Costs are industry estimates and vary by unit and contractor.
The Lendela Team
Lendela is a loan-matching platform that partners with 70+ banks and financial institutions. We aim to deliver a transparent, safe, and personalised loan-matching experience, empowering borrowers with confidence to choose what truly fits. Since launching in 2018, we’ve helped hundreds of thousands of Singaporeans make smarter, more informed financial decisions through clarity and control.
