Find Your Dream Home: Top 5 Property Investments for Families in Singapore
As one of the most prosperous countries in the world, Singapore is an attractive destination for families looking to invest...
Read More
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 …
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
Unveiling the Secrets: How Foreigners Can Buy Property in Singapore – 6 Essential Steps to Follow
TLDR Foreign investors find Singapore attractive due to its stable governance and transparent business practices. Foreigners, including Permanent Residents (PRs),...
Read More
Top 5 Cocktail Bars in Singapore for a Night Out
Singapore, the vibrant city-state known for its impressive skyline and diverse culture, is also home to an exceptional cocktail scene....
Read More
Top 5 Nature Walks in Singapore for Hikers
Singapore, a bustling city-state known for its impressive skyline and modern architecture, is also home to a plethora of natural...
Read More
5 Homeowners Share Their Biggest Regrets Delaying Their Property Purchase in Singapore
In the fast-paced and ever-evolving property market of Singapore, making a timely decision to purchase a property can make all...
Read More
Top 5 Tips: Gain an Edge in the Singapore Property Market: Steps to Boost Your Investment Returns
The Singapore property market has always been a hotbed for investors looking to make substantial returns on their investments. As...
Read More
Ultimate Handbook on HDB Income Ceilings for BTO, Resale Flats, and Executive Condominiums
TLDR Owning an HDB home in Singapore depends largely on income ceilings. The HDB income ceiling limits monthly household earnings...
Read More
Top 5 Tips How to Find Your Dream Home in Singapore: A Step-by-Step Guide
Singapore, a vibrant and dynamic city-state, offers a diverse range of housing options for prospective homebuyers. From condominiums and HDB...
Read More
Singapore’s Property Market: Will the Newly Proposed 2023 Cooling Measures, Including a 60% Foreigner ABSD, Make Waves or Mere Ripples?
TLDR The recent surge in Additional Buyer's Stamp Duty (ABSD) rates in Singapore targets mainly foreigners and entities, with rates...
Read More
The 5 Hottest Neighborhoods in Singapore for Real Estate Investment
Hey everyone! Today I want to share with you the 5 hottest neighborhoods in Singapore for real estate investment. These...
Read More
Top 5 : Questions Should Investors Be Asking Before Investing In Singapore’s High-End Rental Market
Singapore's high-end rental market has been a hot topic of discussion among investors worldwide. With the city-state's robust economy, excellent...
Read More
Identifying a Good Investment Property: A Guide
TLDR When it comes to navigating the real estate market in Singapore, understanding key factors can make a significant difference...
Read More
Discover 5 Reasons Executive Condominiums Could Prove To Be A Smart Investment Despite Growing Inflation
TLDR An overview of the article discussing the benefits of Executive Condominiums (ECs) over private condos in the current real...
Read More
What’s A Fair Price For An HDB Flat in 2025? A Savvy Buyer’s Guide
TLDR There’s no single “fair” price for HDB resale flats—what’s fair depends on your needs, motivation, and timing. To navigate...
Read More
Singapore’s Urban Landscape Transformation: 5 Key Things You Need to Know
Singapore's urban landscape has undergone significant changes over the years, with the city constantly evolving to create a sustainable and...
Read More
Challenging the Myth of Lease Decay: Older Leasehold Condos Outperforming Newer Ones
TLDR Older leasehold condos in Singapore, particularly those built in the 1980s and 1990s, have shown annualised price growth exceeding...
Read More
Top 5 : Potential Risks Should Be Considered When Investing Property Within Singapore’s Competitive Real Estate Markets
Singapore, a bustling financial hub in Southeast Asia, has seen its real estate market flourish over the years. The city-state's...
Read More
5 Must-Know Questions Before Investing in Real Estate
TLDR When considering whether to buy a new development or a resale property, it can be challenging. In the blog...
Read More
The Top 5 Features to Look for When Buying a Luxury Property in Singapore – Expert Insights!
Singapore, a thriving financial hub and one of the world's wealthiest nations, has become an attractive destination for luxury property...
Read More
