Fewer property flippers in condo sub-sale market, but deals in Q1 still ‘highly profitable’

[SINGAPORE] Sub-sale volumes in Singapore’s private housing market – where buyers can “flip” a new unit before the project is completed – are on the decline, with speculative buying dampened by cooling measures and wider economic uncertainty now exacerbated by tariff-induced volatility.

Even so, the majority of such transactions remained highly profitable. Sellers earned a median gross gain of S$257,000, data from local property portal Mogul.sg showed.

According to statistics from URA Realis, there were 292 sub-sale transactions in the first quarter of 2025 – down 26 per cent from a recent peak of 393 units in Q4 2023. The past year also saw a gradual decline in sub-sale volumes since Q4 2023.