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|October 21,2026Resale Condo Market Watch in September 2026
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Rebound in resale condo market activity in September
The overall property market slowly regained momentum in September after a brief bounce back in August, including the resale condo market. About 983 condo units worth $2.02 billion was resold during the month - just slightly under the 986 resale transactions valued at $1.95 billion transacted in August. In September, resales transactions accounted for 76.4% of non-landed transactions, while new sale transactions accounted for 21.1% of transactions, as new sale activities slowly resumes after the Hungry Ghost Festival (see Chart 1).
Chart 1: Proportion of private non-landed transactions (excl. EC) by sale type by month
With the muted new launch activity during the month, the average unit price of new non-landed homes continued to moderate from the previous month. The average new sales price fell 1.5% month-on-month (MOM) to $2,569 psf in September, while the average resale unit price slipped by 0.2% MOM. As such, the new sale and resale price gap compressed to 40.8% in August (see Chart 2), from 43.3% in September.
Chart 2: New sale and Resale Price gap of non-landed homes (overall) by month
Modest gains amongst resale transactions
In terms of profitability, resale condo units transacted in September saw larger gains compared with the previous month. Analysing the profits reaped by resale non-landed private homes in August 2026 and September 2026, it was found that resale condo deals in September garnered higher profits. The proportion of loss-making transactions was lower in September 2026 compared with 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 16.5% of resale condo transactions (152 deals) in September made more than $1 million in profits, a bigger proportion compared with August (15.9%). Of these million-dollar profit-making deals, the deals was spread amongst the three market segments, 32.2% in the Core Central Region (CCR), 28.3% in the Rest of Central Region (RCR) and 39.5% in the Outside Central Region (OCR) . Loss-making deals in September accounted for 4.0% of transactions, higher compared with the proportion of loss-making deals (6.4%) in August (see Chart 3).
Chart 3: Proportion of profit quantum of resale non-landed transactions (August 2026 vs September 2026)
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 for the month, was The Quartz, within District 19, which pulled in an average profit of more than $1 million across five transactions in September. It was also the most profitable condo project in the OCR for the month.
Top Resale Condo projects^ in terms of average gross profit* (September 2026)
Project Name | No. of transactions | Average Profit Gained ($) | Average Annualized Profit (%)# | Year completed | Region |
| THE QUARTZ | 5 | $1,006,538 | 6.13% | 2009 | OCR |
| COTE D'AZUR | 5 | $741,200 | 4.95% | 2004 | RCR |
| D'LEEDON | 6 | $729,640 | 3.03% | 2014 | CCR |
| SEASIDE RESIDENCES | 6 | $678,105 | 4.05% | 2021 | OCR |
| JADESCAPE | 10 | $676,909 | 4.89% | 2022 | RCR |
| D'NEST | 9 | $603,812 | 3.95% | 2017 | OCR |
| COCO PALMS | 5 | $535,936 | 5.24% | 2018 | OCR |
| PARC ESTA | 10 | $477,500 | 4.46% | 2022 | RCR |
| DOUBLE BAY RESIDENCES | 6 | $444,500 | 3.39% | 2012 | OCR |
| RIVERSAILS | 5 | $437,754 | 5.30% | 2016 | OCR |
^projects with fewer than 5 transactions in the month are excluded from this analysis
*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-1
Analysis was done based on available data from URA Realis
Going by districts, resale homes in District 10 (Holland, Bukit Timah) raked in the highest profits on quantum basis, with transactions reaping average gains of nearly $1.1 million per deal. In terms of annualised gains, resale homes in District 22 enjoyed the highest average annualised profit of 5.7% per deal.
Top 10 Resale Condo districts^ in terms of average gross profit* (September 2026)
District | No. of transactions** | Average Gains ($) | Average Annualised Gains (%)# |
D10 | 47 | $1,095,715 | 2.5% |
D9 | 49 | $938,006 | 2.3% |
D22 | 13 | $923,348 | 5.7% |
D11 | 23 | $879,155 | 3.4% |
D15 | 80 | $694,458 | 3.6% |
D20 | 36 | $649,520 | 4.0% |
D16 | 46 | $588,791 | 3.7% |
D21 | 30 | $555,348 | 3.5% |
D14 | 48 | $537,153 | 3.7% |
D12 | 27 | $482,221 | 3.7% |
^Districts with fewer than 10 transactions during the month were excluded from this analysis
*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-1
Analysis was done based on available data from URA Realis
**Resale units with no available last caveated transaction data are excluded from this analysis
Analysing individual transactions by gross profit quantum, it was found that the top five gainers from each region ranged from $1.8 million to $7.6 million. The units which chalked up bigger gains were mostly sizeable large format condos that are more than 1,600 sq ft in size, and consisted mostly of older projects built in the 1980s to early 2000s. The respective holding periods for the most profitable resale properties were mostly beyond 15 years - the oldest being a unit held for more than 30 years.
Top 5 Resale Condo transactions in September 2026 by gross profit by region
*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-1
Analysis was done based on available data from URA Realis
**Resale units with no available last caveated transaction data are excluded from this analysis
It was found that the overall most profitable transaction and top gainer in the CCR was for a 9th floor unit at Ardmore Park. It was resold for an estimated profit of $7.6 million, reflecting an annualised profit of 3.1%. Based on URA Realis caveat data, the 2,885-sq ft unit was first bought in August 1996 and subsequently resold for over $4.9 million in September 2026, with a holding period of 30 years. Ardmore Park is a luxury condominium in District 10, completed in 2001 and located within the prestigious Ardmore residential enclave, offering convenient access to Orchard Road's extensive shopping, dining and lifestyle amenities. The development is within reach of Orchard MRT station on the North-South and Thomson-East Coast lines, with reputable schools such as Singapore Chinese Girls' School and Anglo-Chinese School (Primary) in the surrounding area.
The top gainer in the RCR in terms of gross profit was for unit transacted at Peach Garden, which fetched a gross profit of $3.6 million (annualised profit of 5.5%), based on caveats lodged. The 2,766-sq ft 9th floor unit was sold for $5.1 million, with a holding period of 23 years. Peach Garden is a freehold residential development in District 15, completed in 1975 and situated within the established Marine Parade enclave, near the Katong and East Coast neighbourhoods. It is a short walk from Tanjong Katong MRT station on the Thomson-East Coast Line, with nearby schools including Tanjong Katong Primary School, as well as Kong Hwa School and Haig Girls' School within the wider vicinity. Residents also enjoy convenient access to shopping and dining amenities at Katong Shopping Centre, Katong V and Parkway Parade.
Over in the OCR, the top gainer in September was a 13th floor unit located in Windy Heights in District 14. The 2,476-sq ft unit was sold for $3.6 million, achieving an estimated profit of $2.3 million - which reflects an annualised profit of 3.4% over a holding period of 30 years. Windy Heights is a freehold condominium in District 14, completed in 1983 and situated along Jalan Daud within the Kembangan residential neighbourhood. It is located within walking distance of Kembangan MRT station on the East-West Line, with nearby schools including Telok Kurau Primary School, Eunos Primary School and Maha Bodhi School. Residents also enjoy convenient access to neighbourhood shops and daily amenities, as well as nearby Kembangan Plaza.
Amid a still-low interest rate environment and rising new launch prices, condo resellers September stand to benefit as some homebuyers September find themselves priced out of the new launch market and could consider options in the resale segment.
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