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

TLDR

A recent sub-sale transaction in Midtown Modern set a new record with a 2-bedroom home selling at $3,150 psf. Selling before TOP can lead to substantial profits, even after paying the Seller Stamp Duty. Avoid paying 25% in the progressive payment plan by selling your Option to Purchase before TOP. Properties like Sky Everton, Treasure at Tampines, and The Florence Residences have seen significant increases in their psf prices for resale transactions. The demand for condos near TOP is high due to newer units in better condition, reducing the need for renovations. Consider collaborating with a real estate expert like Jayson Ang to market your sub-sale property effectively. Buyers should weigh their options carefully and seek expert advice before making decisions in the current real estate market landscape.

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.

Sky Everton
Treasure at Tampines
The Florence Residences
View at Kismis
Jervois Prive
Cairnhill 16
Urban Treasures
Parc Clematis
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:

Offering Strategic Real Estate Advice – I can help create a comprehensive plan to guide you through your property journey.
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 …

All Blog Posts Opinion

Unlock the Potential of Your Home: 5 Reasons to Start Selling Now

Jayson Ang – June 6, 2023 –

TLDR When considering selling your home, several key indicators can help you determine if it's the right time to make...

All Blog Posts Buying Tips Opinion

Freehold Properties vs Leasehold Properties: Which is Better?

Jayson Ang – June 26, 2023 –

TLDR When it comes to property investments in Singapore, understanding the differences between leasehold and freehold properties is crucial. This...

Mandarin Top 5

Experience The Best Of Southeast Asia: 5 Must-See Destinations After Singapore

Jayson Ang – February 22, 2024 –

Singapore is a great starting point for travelers looking to explore the region. From Singapore, there are many great destinations...

All Buying Tips

44 Exciting New Condo Launches in 2024 Starting at $1,402!

Jayson Ang – June 4, 2024 –

Alright, let's talk about 2024. We're not expecting the same kind of shortages we've seen after COVID-19. Some folks are...

All Buying Tips Opinion

Decoding the HDB Classification: The New Prime, Plus & Standard – What It Means for Singaporeans

Jayson Ang – December 26, 2023 –

TLDR The National Day Rally 2023 introduced a new classification for HDB flats, replacing the old 'mature versus non-mature estates'...

All Buying Tips Opinion

Fresh Take On What Singapore Condo Buyers Want In 2025

Jayson Ang – September 4, 2025 –

TLDR 2025 property buyers in Singapore are more discerning, prioritizing transparency, smart design, and real quality over flashy gimmicks. They...

Mandarin Top 5

Top 5 Factors to Consider When Choosing a Property in Singapore

Jayson Ang – May 15, 2023 –

The top 5 factors to consider when choosing a property in Singapore. Whether you're a seasoned investor or a first-time...

Mandarin Top 5

Top 5 Best Green Spaces to Picnic in Singapore

Jayson Ang – December 25, 2024 –

Singapore, a bustling city-state known for its modern architecture and vibrant culture, is also home to numerous green spaces that...

All Buying Tips Opinion Selling Tips

Will Property Owners Earn More By Keeping Residential Properties For An Extended Period?

Jayson Ang – December 6, 2025 –

TLDR In Singapore, holding a residential property longer typically yields higher profits—averaging $665,000 after 20 years, versus $200,000 for 5–10...

Mandarin Top 5

Top 5 : Greatest Challenges That Investors Face In Singapore’s Real Estate Market

Jayson Ang – December 23, 2024 –

Singapore's real estate market is a dynamic and attractive investment landscape for both local and international investors. Known for its...

All Blog Posts Buying Tips

Are You Worried About Overpaying On Your Property? Here’s The Secret To Finding Out Its Perfect Purchase Price!

Jayson Ang – March 14, 2023 –

TLDR Understanding property valuations and their impact on mortgage loans is crucial in the Singapore real estate market. By considering...

All Blog Posts Buying Tips

Should I Move to a Private Property?

Jayson Ang – January 9, 2023 –

TLDR When considering an upgrade from HDB to private property in Singapore, it's essential to understand the differences and implications....

All Buying Tips Opinion

I Regret Buying A DBSS: 5 Homeowners Share Their Biggest Regrets

Jayson Ang – January 16, 2024 –

TLDR Singapore's DBSS scheme faced challenges such as design flaws, developer responsiveness issues, and restrictions on selling. Residents reported various...

Mandarin Top 5

Top 5 : Why Ultra-Rich Foreigners Will Still Buy Property In Singapore

Jayson Ang – March 1, 2025 –

Singapore, a small island nation in Southeast Asia, has been steadily gaining recognition as a hotspot for the ultra-wealthy to...

All Blog Posts Buying Tips Opinion

Why There’s No Perfect Time to Enter the Market

Jayson Ang – December 18, 2022 –

TLDR When it comes to property transactions, understanding the factors influencing rising prices is crucial. The pandemic has driven up...

Mandarin Top 5

Top 5 : Best Karting Circuits in Singapore

Jayson Ang – December 21, 2024 –

Singapore, a bustling city-state known for its modern architecture, cleanliness, and vibrant culture, is also home to a thriving karting...

Mandarin Top 5

5 Pros of Buying a New Development

Jayson Ang – March 3, 2024 –

Deciding whether to buy a new development or a resale property can be a challenge. In the next few video...

Mandarin Top 5

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

Jayson Ang – June 4, 2023 –

The Top 5 Myths About Buying Property in Singapore – Debunked! Here are the top 5 myths about buying property...

All Buying Tips

Understanding Property Investment in Singapore: Residential vs. Commercial Properties

Jayson Ang – March 26, 2026 –

TLDR Singapore’s real estate market offers distinct differences between residential and commercial properties. Residential properties typically have longer leases (up...