Your search results

Great Reasons for Condo Owners to Sell upon Reaching TOP – A Guide to Sub-Sale Transactions

Posted by Jayson Ang on August 17, 2023
| 0

A new record for the highest price per square foot for a 2-bedroom home in Midtown Modern was set at $3,150 psf.

The property was sold for $2,000,000, even though it only measures 635 sq ft.

This sale is considered a sub-sale, which means that the condo unit was bought from the developer and sold to another buyer before completion.

The seller purchased the property originally for $1.744 million in 2021 and had to pay a 4% Seller Stamp Duty (SSD) due to buying it between 2-3 years ago.

The SSD rate is 12% in the first year, 8% in the second year, and 4% in the third year after the purchase date.

Despite paying the tax, the seller still made a profit of over $170k.

If you bought a condo unit with the intention of selling it when the development is completed, then you should definitely consider doing the same thing.

Additionally, if you received an early bird discount when purchasing the unit, it may be enough to cover the 4% SSD. This way, you can use your gains for your next home purchase.

Avoid paying 25% in the progressive payment plan before TOP

Developers offer appealing payment plans that require an additional 25% payment upon completion of a property, known as TOP.

To avoid this payment, buyers can sell their Option to Purchase before the TOP deadline.

To identify condos that are suitable for selling before TOP, we will focus on fully sold out properties that are expected to be ready in 2023.

  1. Sky Everton
  2. Treasure at Tampines
  3. The Florence Residences
  4. View at Kismis
  5. Jervois Prive
  6. Cairnhill 16
  7. Urban Treasures
  8. Parc Clematis
  9. The Verandah Residences

Prospective buyers who missed out on the opportunity to reserve a unit in any of these recent property launches will now have the chance to acquire their desired condominium.

However, since there are no more untaken units available directly from the developer, they can purchase from current homeowners.

Sell at a Increased Higher PSF Pricing

These properties have experienced notable increases in their per square foot (psf) prices for resale transactions.

For instance, Treasure at Tampines was initially sold at approximately $1,400 psf but has been selling at an average of approximately $1,600 psf over the last three months.

Please note that the recorded transactions for Sky Everton were limited to only 2-3 and do not provide a comprehensive reflection of the overall market’s price growth.

Huge Demand For Condos Nearer To TOP

This is a positive sign that there is a high demand for newly-built condos that are ready for occupancy and located near the top of the building.

Buyers are willing to pay more for these types of units. Sub-sale units are generally newer and in better condition than resale condos, requiring less renovation or upgrades.

This means that buyers can move in immediately without having to spend extra money on renovations.

Those who do not want to wait for a new condo to be completed or spend money on renovations with a resale unit may be more interested in purchasing a sub-sale unit, even if it comes at a higher price.

Collaborate With Me To Market Your Sub-Sale Property At An Unprecedented Value!

Should You Buy, Sell or Wait?

If you’re reading this, you must be trying to figure out the best course of action right now: is it the right time to buy or sell?

It’s difficult to give an exact answer since everyone’s situation is unique and what works for one person may not necessarily work for you.

I can bring you a wealth of on-the-ground experience and a data-driven approach to provide clarity and direction. From beginners to experienced investors, our top-down, objective approach will help you on your real estate journey.

I can help you by:

  1. Offering Strategic Real Estate Advice – I can help create a comprehensive plan to guide you through your property journey.
  2. Connecting Your Home with the Perfect Buyers – Through stunning visuals, an effective communication strategy, and an in-depth knowledge of the market, we’ll ensure your home is presented in the best possible way to fulfill your goals.

You May Also Like …


When Should You Consider a Shorter/Longer Home Tenure?
All Blog Posts Opinion

When Should You Consider a Shorter/Longer Home Tenure?

For the financially conservative Singaporean, a lengthy home loan tenure can be daunting. Borrowing money can cause immense stress, and...
Read More
Buying HDB Resale : How to Minimise COV
All Blog Posts Buying Tips

Buying HDB Resale : How to Minimise COV

Buying a HDB Resale Flat : How to Minimise Cash over Valuation COV Navigating the resale HDB flat market can...
Read More
The Top 5 Myths About Buying Property in Singapore – Debunked!
Buying Tips Mandarin Top 5

The Top 5 Myths About Buying Property in Singapore – Debunked!

The Top 5 Myths About Buying Property in Singapore – Debunked! Here are the top 5 myths about buying property...
Read More
5 Facilities Selling Points Condo Sellers Should Emphasize To Entice Potential Buyers
All Blog Posts Buying Tips

5 Facilities Selling Points Condo Sellers Should Emphasize To Entice Potential Buyers

For resale condo owners and agents, the usual practice is to highlight the individual apartment's features and specifications, like floor...
Read More
Freehold Properties vs Leasehold Properties: Which is Better?
All Blog Posts Buying Tips Opinion

Freehold Properties vs Leasehold Properties: Which is Better?

In Singapore, where property is a hot topic, it is common to discuss the differences between leasehold and freehold properties....
Read More
Unlock The Secrets To Successfully Selling Your Home In Just 7 Simple Steps!
All Selling Tips

Unlock The Secrets To Successfully Selling Your Home In Just 7 Simple Steps!

Are you considering putting your beloved home on the market? Whether you choose to hire a skilled real estate agent...
Read More
Five Pitfalls of Selling a Home for the First Time
All Blog Posts Buying Tips

Five Pitfalls of Selling a Home for the First Time

Buying and selling a first home is a huge undertaking, both physically and financially. It's normal to feel apprehensive about...
Read More
Avoid These 6 Terrible Property “Tips” in Singapore
All Blog Posts Buying Tips

Avoid These 6 Terrible Property “Tips” in Singapore

No matter how well-intentioned, bad property advice can bring about serious financial repercussions. Though it may not be malicious, much...
Read More
Exploring the Resale Condo Market? Here’s What to Watch Out For!
All Blog Posts Buying Tips

Exploring the Resale Condo Market? Here’s What to Watch Out For!

COVID-19 has had a profound impact on Singapore's real estate market since the pandemic's onset, becoming a highly-discussed issue ever...
Read More
4 Key Factors to Consider When Purchasing a Private Property for the First Time
All Buying Tips Opinion

4 Key Factors to Consider When Purchasing a Private Property for the First Time

If you're planning to purchase your first private property or build a new home in a condominium with your partner,...
Read More
5 Reasons Why You Should Consider Investing In Singapore Real Estate
Buying Tips Mandarin Top 5

5 Reasons Why You Should Consider Investing In Singapore Real Estate

5 Reasons Why You Should Consider Investing In Singapore Real Estate Are you looking to invest in property but not...
Read More
4 Simple Strategies to Help Future Homeowners Save Money
All Blog Posts Buying Tips

4 Simple Strategies to Help Future Homeowners Save Money

Owning a home is a tremendous accomplishment and the excitement of being a new homeowner can be exhilarating - but...
Read More
How Can Real Estate Investment Help You to Combat Inflation?
All Blog Posts Opinion

How Can Real Estate Investment Help You to Combat Inflation?

Inflation rates have risen 2.5% to 3.5% this year, and bank loan rates surpassed HDB's 2.6% rate. In light of...
Read More
6 Myths About Using Your CPF For Housing
All Blog Posts Buying Tips

6 Myths About Using Your CPF For Housing

Are you aware of the myths around CPF and how it can help with purchasing a flat? Let us clear...
Read More
Buying a Second Property – 3 Key Factors to Consider
All Blog Posts Buying Tips

Buying a Second Property – 3 Key Factors to Consider

Singaporeans boast one of the highest rates of homeownership in the world due to most owning at least one property....
Read More
Investing in Singapore Real Estate as a Foreigner
All Blog Posts Buying Tips

Investing in Singapore Real Estate as a Foreigner

Despite the challenges posed by COVID-19, Singapore is still a highly sought-after destination for foreign real estate investments - 2021...
Read More
What is a Tenancy Agreement (TA)
All Blog Posts Buying Tips

What is a Tenancy Agreement (TA)

Every once in a while, I like to take some of the confusion out of property jargon and demystify it...
Read More
Singapore’s Property Insights : Where to Find 5 Hidden Gems?
Mandarin Top 5

Singapore’s Property Insights : Where to Find 5 Hidden Gems?

Singapore's Property Insights : Where to Find 5 Hidden Gems? With its booming economy, vibrant culture and attractive regulations, Singapore...
Read More
An Essential Guide to Buying a Home in Singapore 2023
All Blog Posts Buying Tips

An Essential Guide to Buying a Home in Singapore 2023

As you embark on your journey to purchase a house in Singapore, here is an essential guide to buying a...
Read More
5 Key Insights to Take Away from the Latest 2022 Cooling Measures
All Blog Posts Buying Tips

5 Key Insights to Take Away from the Latest 2022 Cooling Measures

Since the 30th of September 2022, the cooling measures have been in effect for over a month, and as a...
Read More
1 2 3 10

Compare Listings