Subscribe to Jayson Ang’s Singapore Property Newsletter
TLDR Jayson Ang's Singapore Property Newsletter offers valuable insights on real estate investments, market trends, and expert advice. The newsletters...
Read More
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 …
Singapore Property Bubble Ahead? My Friends Share My Market Predictions
TLDR The author delves into various opinions on the Singapore property market for the year 2023. Experts have differing views...
Read More
Top 5 Factors : What I Wish I Had Known about Singapore Property Market
Singapore's property market has always been an attractive investment option for both local and foreign investors. With its stable economy,...
Read More
The Myth of Cheaper New Condos from Lower Land Prices in Singapore
TLDR Lower Government Land Sales (GLS) prices do not automatically lead to cheaper new launch condos in Singapore. Developers base...
Read More
Top 5 : Best Quirky Museums in Singapore
Singapore, a vibrant and diverse city-state, is known for its rich history, cultural heritage, and modern attractions. While the city...
Read More
Housing Affordability in 2023: Is Singapore Property Truly Unaffordable?
TLDR Singapore’s property market faces challenges with high prices, especially in private housing. While public housing remains more affordable, the...
Read More
Is 2024 the Perfect Moment to Refinance Your Home Loan? Discover What Homeowners Should Consider!
TLDR The article covers the shift to SORA for home loan rates, urging consideration of refinancing options amidst rising rates....
Read More
Discover Singapore: 5 Must-See Attractions for a Culture Lovers’ Paradise
TLDR Singapore stands out as a top destination for culture lovers, offering a rich blend of heritage and modernity through...
Read More
5 Most Affordable Areas to Invest in Property in Singapore
Singapore is known for being one of the most expensive cities in the world, particularly when it comes to property...
Read More
Top 5 Factors : Location More Important Than Freehold Status?
When it comes to purchasing a property, there are numerous factors that potential buyers need to consider. While the debate...
Read More
5 Secrets To Successful Property Investing In Singapore
Investing in property is a popular option in Singapore, with many investors seeing it as a lucrative way to build...
Read More
5 Untold Risks Of Buying An Old Freehold Condo In Singapore
TLDR Old freehold condos in Singapore may seem attractive due to lower prices, but they come with hidden pitfalls. Longstanding...
Read More
Singapore Distressed Property Market in 2025: Separating Fact from Fiction
TLDR Mortgagee sale listings in Singapore rose in Q1 2025, mainly due to higher interest rates in recent years. Despite...
Read More
Four Things to Avoid When Renting Out an HDB Flat
TLDR Renting out an HDB flat in Singapore can be a lucrative source of secondary income. Key considerations include adhering...
Read More
Why Some New Condo Releases Outperform Others
TLDR When it comes to the real estate market, familiarity plays a crucial role in the success of larger condo...
Read More
Top 5 Dessert Places in Singapore
Singapore, a melting pot of cultures and culinary delights, is known for its mouth-watering food scene. From hawker centers to...
Read More
5 Reasons : Why Investing In Commercial Real Estate Can Offer Stable Long-Term Returns
Investing in commercial real estate has become an increasingly popular choice for investors seeking stable long-term returns. There are several...
Read More
Top 5 Best Urban Hiking Trails in Singapore
Singapore, known as the Garden City, is a bustling metropolis that offers a multitude of parks and nature reserves for...
Read More
Travel Without Worry: The 5 Best Telco Companies For International Roaming In Singapore
Travel Without Worry: The 5 Best Telco Companies For International Roaming In Singapore When it comes to choosing a mobile...
Read More
5 Things to do When You Go For A Property Viewing In Singapore
5 Things to do When You Go For A Property Viewing In Singapore Here are 5 things to keep in...
Read More
