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 …

Mandarin Top 5

Top 5 Best Alternative Music Venues in Singapore

Jayson Ang – September 20, 2024 –

Singapore, a vibrant and bustling city-state, is known for its diverse culture and thriving arts scene. The city's love for...

Mandarin Top 5

Top 5 Places to Watch Fireworks in Singapore

Jayson Ang – August 3, 2024 –

Singapore is known for its stunning skyline and vibrant celebrations, especially during events like National Day and New Year's Eve....

Mandarin Top 5

Top 5 : Questions Should Investors Be Asking Before Investing In Singapore’s High-End Rental Market

Jayson Ang – February 1, 2025 –

Singapore's high-end rental market has been a hot topic of discussion among investors worldwide. With the city-state's robust economy, excellent...

All Buying Tips Opinion

Singapore Homes Prices Falling? Is This The Beginning Of A New Trend?”

Jayson Ang – December 30, 2023 –

TLDR The Singapore property market has seen a slight dip in private home prices after a significant increase over the...

All Buying Tips

Why It’s Not Financially Sensible to Pay Off Your HDB Flat Home Loan in Advance

Jayson Ang – April 29, 2024 –

TLDR When deciding whether to repay your HDB flat loan early, consider the limitations of not being able to obtain...

All Buying Tips

Multiple Property Ownership in Singapore: A Different Landscape in 2025

Jayson Ang – July 22, 2025 –

TLDR Owning multiple properties in Singapore in 2025 is tougher due to higher Additional Buyer’s Stamp Duty (ABSD), stricter Loan-to-Value...

All Buying Tips Opinion

Here Are 6 Interesting Facts About The Minimum Occupation Period (MOP) That Not Many People Know About In Singapore

Jayson Ang – May 1, 2024 –

TLDR When it comes to understanding the Minimum Occupation Period (MOP) set by the Housing Development Board (HDB) in Singapore,...

Mandarin Top 5

Top 5 : Best Themed Cafes in Singapore

Jayson Ang – November 15, 2024 –

Singapore, a vibrant and diverse city, is known for its eclectic mix of cultures, cuisines, and attractions. Among the many...

Buying Tips Mandarin Top 5

5 Reasons Why Timing the Singapore Property Market is a Risk You Shouldn’t Take

Jayson Ang – June 28, 2023 –

5 Reasons Why Timing the Singapore Property Market is a Risk You Shouldn't Take Entering the Singapore property market can...

All Opinion Selling Tips

Punggol Northshore HDB Flats Reaching MOP: Navigating the Resale Window

Jayson Ang – January 26, 2026 –

TLDR In 2025, around 1,765 HDB flats from Northshore Residences I & II and Northshore StraitsView in Punggol’s Northshore will...

Mandarin Top 5

5 Things to Know About Singapore’s Public Housing System

Jayson Ang – June 16, 2023 –

5 Things to Know About Singapore's Public Housing System With over 80% of Singaporeans living in public housing, it's important...

Mandarin Top 5

Top 5 Reasons : Is It Still Worth It For A Foreigner To Invest In Singapore

Jayson Ang – January 24, 2025 –

Singapore, a small yet prosperous city-state in Southeast Asia, has long been an attractive destination for foreign investors. Its strategic...

Mandarin Top 5

Top 5 Must-Try Foods in Singapore

Jayson Ang – July 12, 2023 –

Top 5 Must-Try Foods in Singapore Singapore, a melting pot of cultures and cuisines, offers a diverse and tantalizing array...

All Buying Tips

What Role Does Property Valuation Play In The Real Estate Industry, And Why Is It Important?

Jayson Ang – June 22, 2023 –

TLDR When it comes to property valuation, understanding the process is crucial for both buyers and sellers. Property valuations can...

Mandarin Top 5

Beyond Marina Bay Sands: Uncovering Singapore’s 5 Little-Known Secrets

Jayson Ang – July 29, 2023 –

Beyond Marina Bay Sands: Uncovering Singapore's 5 Little-Known Secrets Singapore is a small country with a rich history and culture....

Mandarin Top 5

Top 5 Coffee Shops in Singapore for Coffee Lovers

Jayson Ang – August 17, 2024 –

Singapore, a bustling city-state known for its diverse culture and vibrant food scene, has also become a haven for coffee...

All Buying Tips

ANALYSIS: Unveiling the HDB Towns with the Steepest and Lowest Price Surges!

Jayson Ang – August 17, 2024 –

TLDR The real estate market for HDB flats in Singapore has witnessed significant growth, with prices reaching new highs. The...

Mandarin Top 5

Top 5 Dim Sum Restaurants in Singapore

Jayson Ang – May 14, 2024 –

Dim sum, a popular culinary delight that originated from China, has made its way into the hearts and taste buds...

All Blog Posts Buying Tips

Discover 11 Helpful Tips for Buying an Older Condo : A Comprehensive Guide for Buyers

Jayson Ang – March 2, 2023 –

TLDR When considering purchasing an older resale condo, ensure you investigate potential en-bloc bids, lift conditions, parking conveniences, playground safety,...