Your search results

Is it Better to Sell Your Newly Launched Condo Before or After Completion? Here’s What the Statistics Indicate

Posted by Jayson Ang on March 14, 2025

| 0

TLDR

Determining the best time to sell a newly launched condo involves weighing the benefits of selling before or after the project’s completion. Selling early can lead to quicker profits and less competition, while waiting until completion might attract more buyers and higher prices, albeit with potential risks like construction issues. Data from various condo sales since 2018 indicates that selling after the Temporary Occupation Permit (TOP) often yields slightly better returns, with a 1.4% improvement on average. However, the timing difference is marginal, and decisions should consider market conditions, project specifics, and personal financial strategies. Understanding the Sellers Stamp Duty (SSD) and market trends is crucial for maximizing investment returns in Singapore’s property market.

There has been significant interest in figuring out the best time to sell your newly launched condo, especially as more units from recent developments are approaching completion.

Should you sell before the condo is finished? Selling early allows for quicker access to profits and opens up opportunities for other potential investments. Furthermore, selling sooner can mean facing less competition, particularly if your unit is part of a large-scale development.

Conversely, there are benefits to waiting until the project is completed. You might see an uptick in demand from buyers eager to move in, and if the condo exceeds expectations, it could command a higher price. However, there’s a risk that any construction quality issues could surface, which might negatively affect your selling price.

So, does selling early genuinely offer greater profitability, and how does the timing of your sale influence your returns? We examined data from various condo sales to uncover the answers:

Projects that we used for comparison

We compared private, non-landed projects launched since 2018. We also looked at new resale and new sub-sale transactions for comparison.

Project	New Sale to Resale (Vol)	New Sale to Sub Sale (Vol)	Total Volume
AMBER 45	10	1	11
AVENUE SOUTH RESIDENCE	37	2	39
BUKIT 828	1	1	2
DAINTREE RESIDENCE	8	16	24
FOURTH AVENUE RESIDENCES	2	13	15
JADESCAPE	45	80	125
JUI RESIDENCES	7	2	9
KOPAR AT NEWTON	1	15	16
MARGARET VILLE	31	4	35
MAYFAIR GARDENS	13	14	27
MIDWOOD	6	6	12
NYON	3	1	4
OLLOI	1	1	2
PARC ESTA	56	169	225
PARK COLONIAL	52	56	108
REZI 24	1	4	5
STIRLING RESIDENCES	107	84	191
THE ANTARES	2	2	4
THE GARDEN RESIDENCES	69	4	73
THE JOVELL	4	10	14
THE TAPESTRY	97	19	116
THE VERANDAH RESIDENCES	4	10	14
TREASURE AT TAMPINES	61	275	336
TWIN VEW	43	45	88
VERDALE	1	1	2
WHISTLER GRAND	48	57	105
Total Transactions	674	928	1602

Avenue South Residence transactions were initially recorded as Sub Sale. We changed them to “Resale” for analysis because it was believed that the residence was ready for move-in earlier. We used March 2023 as the date for considering these transactions as Resale instead of Sub Sale.

A look at overall returns

Project	New Sale to Resale	New Sale to Sub Sale	Grand Total	Which is better?	Difference
AMBER 45	+15.1%	+6.1%	+14.3%	Sell After TOP	+9.0%
AVENUE SOUTH RESIDENCE	+14.7%	+13.7%	+14.6%	Sell After TOP	+0.9%
BUKIT 828	+8.9%	-4.6%	+2.1%	Sell After TOP	+13.6%
DAINTREE RESIDENCE	+21.6%	+22.2%	+22.0%	Sell Before TOP	-0.5%
FOURTH AVENUE RESIDENCES	+17.8%	+8.4%	+9.7%	Sell After TOP	+9.4%
JADESCAPE	+25.8%	+22.0%	+23.4%	Sell After TOP	+3.8%
JUI RESIDENCES	+9.3%	+11.5%	+9.8%	Sell Before TOP	-2.2%
KOPAR AT NEWTON	+11.6%	+12.7%	+12.6%	Sell Before TOP	-1.1%
MARGARET VILLE	+17.1%	+11.1%	+16.4%	Sell After TOP	+6.0%
MAYFAIR GARDENS	+10.3%	+9.8%	+10.0%	Sell After TOP	+0.5%
MIDWOOD	+18.4%	+20.9%	+19.7%	Sell Before TOP	-2.5%
NYON	+16.3%	+13.2%	+15.5%	Sell After TOP	+3.1%
OLLOI	+24.0%	+17.5%	+20.7%	Sell After TOP	+6.5%
PARC ESTA	+29.1%	+22.7%	+24.3%	Sell After TOP	+6.4%
PARK COLONIAL	+20.8%	+15.7%	+18.1%	Sell After TOP	+5.1%
REZI 24	+4.3%	+7.3%	+6.7%	Sell Before TOP	-2.9%
STIRLING RESIDENCES	+24.2%	+20.1%	+22.4%	Sell After TOP	+4.1%
THE ANTARES	+19.2%	+12.9%	+16.1%	Sell After TOP	+6.3%
THE GARDEN RESIDENCES	+13.5%	+8.2%	+13.2%	Sell After TOP	+5.3%
THE JOVELL	+22.7%	+16.9%	+18.5%	Sell After TOP	+5.9%
THE TAPESTRY	+16.6%	+11.6%	+15.8%	Sell After TOP	+5.0%
THE VERANDAH RESIDENCES	+13.3%	+10.2%	+11.1%	Sell After TOP	+3.1%
TREASURE AT TAMPINES	+23.5%	+21.8%	+22.1%	Sell After TOP	+1.7%
TWIN VEW	+22.6%	+17.0%	+19.8%	Sell After TOP	+5.6%
VERDALE	+12.8%	+13.9%	+13.3%	Sell Before TOP	-1.1%
WHISTLER GRAND	+30.7%	+24.6%	+27.4%	Sell After TOP	+6.1%
Average	+21.3%	+19.9%	+20.5%	Sell After TOP

New resale transactions were slightly better, suggesting it’s often wiser to sell after TOP. However, the difference isn’t significant. In six projects where selling before TOP was advantageous, three only had one new resale transaction, and Jui Residences had two, making it tough to reach solid conclusions. Midwood stands out, as selling after TOP increased value by 2.5 percent.

We need to note that prices increased a lot after Covid

In the aftermath of the Covid pandemic, the housing shortage led to a significant increase in home prices. As a result, we would anticipate that new units compared to resale properties would exhibit stronger performance, as they likely have appreciated due to extended time in the market.

Below are the holding periods for the different transactions:

Project	New Sale to Resale	New Sale to Sub Sale	Grand Total
AMBER 45	4.4 Years	3.2 Years	4.3 Years
AVENUE SOUTH RESIDENCE	4.0 Years	3.1 Years	3.9 Years
BUKIT 828	4.0 Years	1.6 Years	2.8 Years
DAINTREE RESIDENCE	3.7 Years	3.3 Years	3.4 Years
FOURTH AVENUE RESIDENCES	3.6 Years	3.6 Years	3.6 Years
JADESCAPE	4.1 Years	3.7 Years	3.8 Years
JUI RESIDENCES	4.6 Years	3.4 Years	4.3 Years
KOPAR AT NEWTON	4.0 Years	3.6 Years	3.6 Years
MARGARET VILLE	4.4 Years	3.5 Years	4.3 Years
MAYFAIR GARDENS	4.6 Years	4.1 Years	4.3 Years
MIDWOOD	3.2 Years	3.1 Years	3.1 Years
NYON	3.9 Years	3.5 Years	3.8 Years
OLLOI	3.9 Years	2.2 Years	3.1 Years
PARC ESTA	4.3 Years	3.7 Years	3.8 Years
PARK COLONIAL	4.9 Years	3.7 Years	4.3 Years
REZI 24	3.5 Years	4.0 Years	3.9 Years
STIRLING RESIDENCES	4.3 Years	3.6 Years	4.0 Years
THE ANTARES	3.7 Years	3.9 Years	3.8 Years
THE GARDEN RESIDENCES	4.1 Years	3.4 Years	4.0 Years
THE JOVELL	4.2 Years	3.5 Years	3.7 Years
THE TAPESTRY	4.6 Years	3.3 Years	4.4 Years
THE VERANDAH RESIDENCES	5.7 Years	4.7 Years	5.0 Years
TREASURE AT TAMPINES	3.8 Years	3.7 Years	3.7 Years
TWIN VEW	4.9 Years	3.4 Years	4.2 Years
VERDALE	3.6 Years	3.4 Years	3.5 Years
WHISTLER GRAND	4.1 Years	3.5 Years	3.8 Years
Average	4.3 Years	3.7 Years	3.9 Years

For Midwood, the average time between buying and selling is similar for both sub sales and resales, so the holding period isn’t significant for this condo.

Generally, if you wait until after the TOP to sell, the results improve by about 1.4 per cent, which is due to an eight-month difference in the holding period.

In general, the findings indicate that the timing of this brief scale does not significantly impact the results

It’s wise to follow a basic strategy for property buying: purchase when you can hold onto the investment and weather market downturns.

The Sellers Stamp Duty (SSD) imposes a 12% tax on the sale price if a unit is sold within the first year, dropping to 8% and then 4% in following years. This is why many sub sales happen in the fourth year, after the SSD period.

Decisions often depend on the specific project. For a luxury condo with fewer competitors and a promising outlook, waiting might be advantageous as buyers may pay more for something they like.

In contrast, for mass-market launches, timing can be crucial. If you bought early and others bought later, selling before more listings appear could be wise, even if you risk missing a higher price later.

Finally, private property prices are rising slowly and struggling to exceed $2,200 per square foot, affecting sub sale transactions. Buyers should be ready to hold their properties longer than expected, possibly needing to sell well after the official completion date.

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 : How Does One Choose Good Property In Singapore?

Jayson Ang – January 28, 2025 –

Choosing a property in Singapore can be an exciting yet challenging endeavor. With the city-state's dynamic real estate market, it...

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...

All Blog Posts Opinion

Breaking Through the Stalemate of En Bloc Sales

Jayson Ang – March 5, 2023 –

TLDR The Singapore property market faces challenges with the ongoing en bloc stalemate. Lower success rates, higher development risks, and...

Mandarin Top 5

Top 5 Reasons : How Investing in a Luxury Condominium in Singapore Can Boost Your Portfolio

Jayson Ang – January 16, 2025 –

Investing in a luxury condominium in Singapore is an attractive option for investors looking to diversify their portfolio and enjoy...

Mandarin Top 5

Top 5 Nature Walks in Singapore for Hikers

Jayson Ang – June 20, 2024 –

Singapore, a bustling city-state known for its impressive skyline and modern architecture, is also home to a plethora of natural...

Mandarin Top 5

5 Factors : Why Singapore’s Prime District Properties Are Still In Demand

Jayson Ang – July 14, 2024 –

Singapore's prime district properties continue to be in high demand due to a combination of factors that make them attractive...

Mandarin Top 5

Top 5 : Singapore’s Most Desirable Properties: A Look at the City’s Most Coveted Real Estate

Jayson Ang – October 5, 2024 –

Singapore, a bustling city-state known for its impressive skyline and thriving economy, is home to some of the most desirable...

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...

All Blog Posts Buying Tips

Beware! Spot These Warning Signs Before Making a Home Purchase!

Jayson Ang – December 21, 2022 –

TLDR When purchasing a property in Singapore, it is crucial to thoroughly assess various aspects of the home to avoid...

Mandarin Top 5

Top 5 : Best Street Art Murals in Singapore

Jayson Ang – December 17, 2024 –

Singapore, a vibrant and multicultural city-state, is not only known for its iconic landmarks and delicious cuisine but also for...

All Blog Posts Opinion

Invest During the Bearish & Exit During the Bullish

Jayson Ang – December 27, 2022 –

TLDR A comprehensive overview of the real estate market trends, emphasizing the importance of strategic property analysis and investment decisions....