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|November 19,2025Resale Condo Market Watch in October 2025
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Healthy resale condo activity in October amid robust new launch market
Sales momentum in the overall property market continued its streak in October, including the resale condo market. About 947 condo units worth $1.95 billion was resold during the month - compared with the 1,097 resale transactions valued at $2.17 billion transacted in September.
The resale home market simmered slightly as new launch activity resurged during the month. Momentum in the new sale market rebounded strongly with over 2,400 new units transacted amidst a flurry of new launches. In October, new sales accounted for more than 70% of non-landed transactions, while resale deals accounted for the minority of transactions (27.6%, see Chart 1).
Chart 1: Proportion of private non-landed transactions (excl. EC) by sale type by month
With the resurgence in new launch activity during the month, the average unit price of new non-landed homes expanded. The average new sales price grew by 6.9% month-on-month (MOM) to $2,786 psf in October, while the average resale unit price slipped marginally by 0.6% MOM. As such, the new sale and resale price gap recovered further from 44% in September (see Chart 2), to 55% in October.
Chart 2: New sale and Resale Price gap of non-landed homes (overall) by month
Stable gains amongst resale transactions
In terms of profitability, resale condo units transacted in October saw slightly better gains compared with the previous month. Analysing the profits reaped by resale non-landed private homes in September and October 2025, it was found that resale condo deals garnered slightly higher profits. The proportion of loss-making transactions remained flat in October 2025 over the previous month. The resale profit analysis involves computing gains achieved for the units by matching the condo resale transactions in September against their respective previous purchase price, according to caveats lodged.
The study showed that 13.6% of resale condo transactions (120 deals) in October made more than $1 million in profits, a slightly smaller proportion to September (14%). Of these million-dollar profit-making deals, the deals are evenly distributed amongst the three market segments, 46% in the Core Central Region (CCR) homes and 29% in the Outside Central Region (OCR), followed by the city fringe or Rest of Central Region (RCR) (25%) homes. Loss-making deals in October accounted for 4.8% of transactions, similar to the proportion of loss-making deals (4.8%) in September (see Chart 3).
Chart 3: Proportion of profit quantum of resale non-landed transactions (September 2025 vs October 2025)
The average profit was subsequently computed on a project basis. To minimise sampling errors, resale condominium projects that posted fewer than three transactions during the month are excluded from the study. Based on URA Realis caveat data analysed by PropNex Research, the most profitable condo in the CCR, was St Thomas Suites in District 9, which pulled in an average profit of $951,000 across three transactions in October.
In the RCR, the most profitable condo development in October was The Sea View, a project located in District 15, which achieved an average profit of $1.5 million, across three transactions. The Sea View was also the overall best performing project in terms of average profit quantum in October. In the heartlands or Outside Central Region (OCR), the most profitable project was The Tropica in District 18 which garnered an average profit of $925,000 across four transactions.
Top Resale Condo projects^ in terms of average gross profit* by region (October 2025)
Project Name | No. of transactions | Average Profit Gained ($) | Average Annualized Profit (%)# | Year completed | District |
CCR | |||||
| ST THOMAS SUITES | 3 | $951,000 | 1.1% | 2010 | 9 |
| THE TRIZON | 3 | $903,267 | 3.2% | 2012 | 10 |
| D'LEEDON | 8 | $839,820 | 3.4% | 2014 | 10 |
RCR | |||||
| THE SEA VIEW | 3 | $1,503,000 | 7.8% | 2008 | 15 |
| BRADDELL VIEW | 3 | $1,043,333 | 5.0% | 1980 | 20 |
| GARDENVISTA | 3 | $1,039,054 | 6.1% | 2006 | 21 |
OCR | |||||
| THE TROPICA | 4 | $925,250 | 5.9% | 2000 | 18 |
| GRANDEUR 8 | 3 | $834,333 | 4.5% | 2005 | 20 |
| CASAFINA | 4 | $816,528 | 4.7% | 1999 | 16 |
*Gains are derived from the resale transaction for each unit against the unit's last caveated transaction; the average profit is determined on the profits of all resale transactions in the development which occurred during the month. The profit reflected is gross - it has not accounted for the applicable seller's stamp duties, interest payable, taxes and other relevant divestment costs.
#Annualised Gains is the compounded annual rate of return which shows the rate of return over the time period between the point of resale and the property's last caveated transaction, expressed in annual percentage terms. The formula for determining this is simply: [(current resale price) / (purchase price)] time period in years-1Analysis was done based on available data from URA Realis
Going by districts, resale homes in District 10 (Bukit Timah, Holland) raked in the highest profits on quantum basis, with transactions reaping average gains of over $1.08 million per deal. In terms of annualised gains, resale homes in District 20 (Bishan, Ang Mo Kio) enjoyed an average annualised profit of 5.1% per deal.
Top 10 Resale Condo districts^ in terms of average gross profit* (October 2025)
District | No. of transactions** | Average Gains ($) | Average Annualised Gains (%)# |
D10 | 68 | $1,080,737 | 2.6% |
D20 | 35 | $706,632 | 5.1% |
D11 | 33 | $680,799 | 3.2% |
D9 | 60 | $631,400 | 1.9% |
D15 | 49 | $628,580 | 4.3% |
D21 | 26 |
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