Singapore Home Renovations Complete Guide | Cost & Tips

How can you finance a home renovation project in Singapore?

Singapore real estate isn’t cheap – but putting your own mark on a property is often the first thing you’ll want to do once you buy a new home.

You may choose to finance your home renovation project in Singapore through your own savings, or through taking out a local loan or mortgage. You could also choose to raise funds overseas if you’re an expat in Singapore, and bring the money to Singapore to pay for your home improvements.

The main financing options for home renovations in Singapore include:

• Personal savings: Pay for your renovations with no outside financing if you have the savings already
• Mortgage refinancing: If you already have a mortgage, you may increase or extend this to get more money for your project*
• Singapore or overseas issued renovation loans: Some local banks have specific home renovation loans, or you may take a loan in your home country if you’re an expat in Singapore
• Singapore or overseas personal loans: It’s common for Singapore banks to offer standard personal loans for home improvements – or get financing overseas and transfer to Singapore instead
• Specific ‘green’ loans: Green financing options for homes awarded with the BCA Green Mark

*Be aware that refinancing could lead to a new interest rate and extending your loan term may increase the total interest paid over time.

Let’s look through some of the more common options to finance a home improvement project in Singapore.

Financing through your personal savings

If you’re planning a more modest renovation – or if you have a large amount of money to hand – you may decide to fund your home project from your own savings. The average home renovation on a condo property is reported to be 82,000 SGD according to NTUC Income – so self-funding isn’t right for everyone. However, if you have the cash on hand it is a good way to avoid any excess costs involved in paying loan interest or fees.

Financing through a Singapore bank personal loan

Some local banks have personal loans that can be used for a range of needs, including home renovations. For example, the Standard Chartered CashOne Personal Loan is available for a range of uses including home renovation, and offered based on your income and other eligibility factors. You’re likely to find that a minimum income amount applies, which is often significantly higher if you’re an expat in Singapore compared to a local Singapore citizen or PR.

Fees including annual fees, early redemption charges and late payment costs – as well as the agreed interest – are likely to apply.

Financing through a Singapore bank renovation loan

Some Singapore banks offer specific renovation loans, which could be for general home improvements, or which sometimes specify that you must be making eco-friendly changes to an eligible property. As an example you may want to consider the Trust Bank Renovation Loan for a low cost loan from a digital bank. Or if you have an eligible Building and Construction Authority (BCA) approved property, you may like the UOB Go Green Home Loan instead.

Terms, costs and interest do vary a lot on loans like these, but some offer instant decisions and quick pay outs for home owners who are in a hurry to get on with their renovation project.

Fund your Singapore renovation from abroad with Wise

If you’re paying for your Singapore home renovation from overseas – either by taking out a loan in your home country, or through bringing your savings from overseas to Singapore – you’ll need a safe, cheap and fast money transfer service. Check out Wise*, which offers low cost international transfers which use the mid-market rate with transparent fees and quick delivery times.

Wise also has a dedicated high value transfer team which works to support people moving larger amounts of money, usually over the equivalent of 20,000 GBP or so. You’ll qualify for automatic discounts when sending higher value payments and can get support from Wise if you have questions or need help arranging the paperwork for your payment.

*For more information on how Wise works in your country, please visit the Wise website and select your country for full information about the products available

Home renovations Singapore: HDB vs Condo vs Landed property

If you’re thinking of renovations in Singapore, your options and the rules you need to follow will depend in some cases on the type of property you have. We’ll summarise some important points to consider here, but as each renovation is different, it’s also important to talk through your unique situation with the contractors and designers helping with your project, to make sure you’ve got everything covered.

HDB renovation – If you’re a Singapore citizen or PR, or a direct relation of a citizen or PR, you may have an HDB property to improve. It’s important to check the rules which are managed by the Housing Development Board (HDB) before you do anything to your property. In many cases, a HDB renovation permit is required, and you’ll usually need to use a renovation contractor who has been approved by the Building and Construction Authority (BCA), particularly for any changes which impact the fabric of the building such as changing out windows.

Condo renovation – For Strata Title developments like condominiums, you may need permission and approvals from the MCST (the Management Corporation Strata Title body) which manages the property. You’ll also usually need permits for works, especially noisy works which may impact your neighbors, as well as having plans to remove any building waste or debris that’s produced as part of your improvement.

Landed properties – Check if you need to get BCA permissions prior to starting any improvements – this is pretty much always needed if you will increase the floor area, but can also be required for less drastic changes. Bear in mind that heritage properties have strict rules on any changes or improvements, and there are legal requirements to limit noise when renovating.

What can you use a home renovation loan for?

Once you have secured a home renovation loan you can use it to make the changes and improvements you dream of in your property. If a loan has been issued specifically for renovation, you may need to tell the bank or loan provider exactly what you plan to do with the money. However, with more flexible personal loans there’s not usually any need to confirm your plans – just keep up with the repayments to avoid any unexpected costs or issues.

To give an idea, if you take the DBS renovation loan, you can use your money for the following:

• Installation of Solar Panels
• Electrical and wiring works
• Built-in cabinets
• Painting and redecorating
• Structural alterations or works within compound of the house
• Flooring, tiling and bathroom fittings

There are exclusions from a loan like this, including things like furnishings – so make sure you read the terms of your loan carefully.

People commonly use a home renovation loan for things like decorating or reconfiguring a property, refitting key areas like bathrooms and kitchens, landscaping if you have a landed home, or extending if you’ve got a property with scope for growth. Don’t forget, your funding will also need to cover additional costs which include permits, permissions and any extras like waste removal – as well as your interior decorator (ID) who will work with you to bring your dream to life.

In Singapore it’s very common to have an ID to support the design and ideation of your project, and while this adds cost it can mean your final result is of better quality and a closer fit for your needs.

How much can you borrow?

Singapore banks and loan services may assess your suitability for a loan based on several factors:

• Your legal status in Singapore – options are often different for Singapore citizens and PRs compared to expats
• Your income – minimum income requirements are common
• Affordability – you may also need to confirm your other income and outgoings to prove you can repay
• The loan term – higher amounts may need to be paid back over a longer term, increasing the overall interest costs

If you’re not sure where to start, using a comparison site like Money Smart or Singsaver can give you ideas, and also offer a calculator to show the indicative costs and options available from different banks and providers.

Necessary steps to arrange a home renovation loan

Here’s a runthrough of the steps usually necessary to arrange a home renovation loan:

Step 1: Speak to mortgage adviser or bank

Your first step is to decide on the loan provider you’ll use, by running indicative quotes online and talking through your options with your bank or other loan services. You can do this in Singapore, or if you’d prefer you may also want to get funding from your home country if you’re an expat.

Step 2: Specify renovation plans and costs

If you’re taking a dedicated renovation loan you usually need to specify your renovation plans and costs. For example with a DBS renovation loan you must provide the bank with your proof of property ownership and quotes from your contractors showing the costs and scope of works, as well as personal income and ID documents.

Step 3: Activate your home renovation loan

Once you’re ready to start work you can activate your loan and receive your money from the bank or loan provider. This is usually as a deposit to your bank account or in the form of cashiers cheques you can give directly to your contractors.

Step 4: Complete renovation work

Your team of designers and contractors can now complete the renovation and any required snagging, before you’re ready to sign off the project and move in.

Step 5: Submit bills and documentation

Check if your bank requires you to follow up on your loan by providing proof of the use of funds. If you’ve taken a loan as a deposit to your account you may be asked to provide the bank with documents to show you used the money in accordance with the terms of the loan.

If you’re buying property in Singapore and expect you’ll need to renovate once you’ve completed the sale, it’s a good idea to think ahead about renovation financing and speak to mortgage advisers so you know what your realistic budget and timelines may need to be.

What government subsidies can I use for a home renovation in Singapore?

If you’re an expat in Singapore looking to renovate a residential property, it’s unlikely that you’ll find any government level subsidies or support. However, you might find banks can offer preferential rates on a loan if you qualify by completing an environmentally friendly build.

Singapore government level subsidies tend to be aimed at the owners of very large buildings who are retrofitting environmentally sound features, or HDB owners (Singapore citizens and PR) who are looking for whole block updates on older buildings. There are also some government support schemes for local citizens who need support with accessibility in an HDB flat.

Home renovations, decorations and common retailers

There are many different levels of renovation work from cosmetic changes to major renovations, and no matter what you’re planning you’ll need to make sure you’ve got all the proper planning permissions in place, with a fit-for-purpose budget to see your project through to completion.

You can check if you need BCA permissions for any planned changes to a private property on the BCA website. For HDB renovation permits, look at the HDB website for more information. Before you start your project it’s also worth checking if your plans fit the scope of your loan if you’ve taken a dedicated renovation loan. Often some work and expense types are excluded.

Building materials, fixtures, fittings and DIY

Depending on the agreement you have with your contractors and ID you may need to provide some or all of the materials required for your home renovation in advance. And of course if there’s a DIY element to your renovation you will need to check you have everything you need, too.

Costs of materials, fixtures, fittings and DIY supplies vary enormously, largely dictated by the aesthetic and product quality choices you’ve made. For example, while ceramic flooring can cost just 3.50 SGD per square foot, splashing out on marble flooring will be more like 15 SGD or significantly more per square foot.

There are different suppliers depending on what you’re looking for, from construction specialists and trade sellers which may have multiple locations, such as Buildmate, through to everyone’s favourite Ikea for your finishing touches and basic DIY materials. You can also buy lots of incidental supplies such as paint brushes, rollers, cloths and other essentials at neighbourhood DIY stores – check on Google maps for the best locations close to you.

Household goods

Part of many renovations will be replacing or upgrading household goods from your kitchen electrical appliances through to your living room cabinetry and furnishings.

Options here abound, from Best Denki for electrical appliances, or a provider like HipVan for furniture. There are also all round options like Takashimaya for a broad range of goods, including delivery and insurance cover if you need them. Bear in mind that your home loan may not be intended to cover some furnishings if you’re buying standalone items rather than having built-ins.

Kitchen

A kitchen upgrade can make a huge difference to your home, and while the costs can be fairly high, having a functional and enjoyable space for cooking matters a lot to many people. NTUC Income data estimates suggest budgeting anything from around 9,000 SGD through to 20,000 SGD or more for a kitchen upgrade depending on the final look and the amount of reconfiguration needed.

Bathroom

Making changes to your bathroom is likely to be fairly budget friendly and can make a big difference to your home. NTUC suggests costs could be from about 1,300 SGD to about 2,600 SGD depending on your intentions. The quality of the finish you choose will make a big difference too – but don’t skimp on the costs of a good plumber.

Renovation compliance and safety

The contractors and designers you work with in Singapore can give you advice on how to stay legally compliant while renovating a property. Whether you’re looking for a complete refit, or smaller works like a kitchen renovation or changes to your bathrooms, there are some rules you have to follow. Here are a couple of important things to remember:

Building and planning permissions

If you have a landed property – or in some cases a condo or similar – you may need planning permission from the BCA before you make changes. Permission must be sorted out through a qualified person, usually your contractor or engineer, and there are fees to pay. Give yourself plenty of time for this stage if it’s needed as it can take several weeks to have applications approved.

If you have an HDB you will often need an HDB renovation permit – and if you have a condo you will normally have to get permissions from your building management company. To avoid excessive disruption to other tenants, buildings will have strict rules about what work can be done, and when, and fees or deposits may be needed if you require lifts for shuttling building supplies, for example. Talk to your building management long before starting any renovation so you know what’s involved.

Noise and environmental rules

The NEA manages and oversees many aspects of noise control in Singapore. Maximum permissible noise levels depend on many factors like the proximity of other buildings, the day and time of work, and the type of work being done.

You’ll also normally find that for private properties, condo management companies have their own rules and requirements, so getting familiar with what’s allowed and how to mitigate disruption to neighbors is essential.

Renovations advice in Singapore

If you’ve decided to take the leap and stop renting in Singapore in favour of buying a place, the chances are that you’ll want to make a few changes once you take possession of your new home. It’s very common to have a contractor and interior designer to help with renovations in Singapore, to make the process run more smoothly and achieve a polished result.

• Singapore home renovations may require you to have permissions from national or building authorities, and can cost anything from a few hundred dollars to many tens of thousands, depending on the scope of work
• Local banks offer dedicated property renovation loans and can also offer personal loans to cover home improvement costs with fewer restrictions on usage
• If you need to fund your Singapore home renovation from overseas, use a low cost provider like Wise to send your money to SGD, to keep your renovation fees down overall

Useful resources

• Money Smart – Best renovation loans guide, 2025 comparison
• Singsaver – Best renovation loans guide, 2025 comparison
• Urban Redevelopment Authority (URA) – renovating a private property, rules permissions and overview
• Housing Development Board (HDB) – renovation rules and overview for HDB properties
• Housing Development Board (HDB) – finding a renovation contractor for an HDB project
• Building and Construction Authority (BCA) – when permission is needed to change or update a private property in Singapore
• National Environment Agency (NEA) – noise regulations in different types of property renovation and construction works
• NTUC Income Blog – costs of renovation in Singapore, explainer with example pricing to give some feel for the likely costs of a project
• Wise – Multi-currency account with transparent, low-cost international transfers and the mid-market exchange rate for funding renovations from abroad