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|December 24,2025Resale Condo Market Watch in November 2025
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Stable resale condo market in November amid slowing new launch activities
Sales momentum in the overall property market cooled down in November, including the resale condo market. About 824 condo units worth $1.67 billion was resold during the month - compared with the 1,048 resale transactions valued at $2.1 billion transacted in October.
The resale home market simmered slightly as new launch activity resurged during the month. Momentum in the new sale market also slowed down with less than 400 units transacted, coming down from a high of over 2,400 new units transacted in the previous month, amidst a flurry of new launches. In November, resales accounted for nearly 70% of non-landed transactions, while new sale 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 drop in new launch activity during the month, the average unit price of new non-landed homes declined. The average new sales price slipped by 7.4% month-on-month (MOM) to $2,578 psf in November, while the average resale unit price grew by 2.1% MOM. As such, the new sale and resale price gap declined from 55.7% in October (see Chart 2), to 41.1% in November.
Chart 2: New sale and Resale Price gap of non-landed homes (overall) by month
Improving gains amongst resale transactions
In terms of profitability, resale condo units transacted in November saw slightly better gains compared with the previous month. Analysing the profits reaped by resale non-landed private homes in October and November 2025, it was found that resale condo deals garnered slightly higher profits. The proportion of loss-making transactions slightly declined in November 2025 over the previous month. The resale profit analysis involves computing gains achieved for the units by matching the condo resale transactions in October against their respective previous purchase price, according to caveats lodged.
The study showed that 15.3% of resale condo transactions (112 deals) in November made more than $1 million in profits, a higher proportion to October (13.4%). Of these million-dollar profit-making deals, the deals are evenly distributed amongst the three market segments, in the Rest of Central Region (RCR) (37.5%), 32.1% in the Core Central Region (CCR) homes and 30.4% in the Outside Central Region (OCR). Loss-making deals in November accounted for 4.2% of transactions, similar to the proportion of loss-making deals (4.7%) in October (see Chart 3).
Chart 3: Proportion of profit quantum of resale non-landed transactions (October 2025 vs November 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 Valley Park in District 10, which pulled in an average profit of $961,000 across three transactions in November.
In the RCR, the most profitable condo development in November was Sanctuary Green, a project located in District 15, which achieved an average profit of $1.3 million, across three transactions. Sanctuary Green was also the overall best performing project in terms of average profit quantum in November. In the heartlands or Outside Central Region (OCR), the most profitable project was Kovan Residences in District 19 which garnered an average profit of $933,000 across four transactions.
Top Resale Condo projects^ in terms of average gross profit* by region (November 2025)
Project Name | No. of transactions | Average Profit Gained ($) | Average Annualized Profit (%)# | Year completed | District |
CCR | |||||
| VALLEY PARK | 4 | $961,250 | 4.2% | 1997 | 10 |
| D'LEEDON | 4 | $630,350 | 2.6% | 2014 | 10 |
RCR | |||||
| SANCTUARY GREEN | 4 | $1,312,875 | 5.1% | 2003 | 15 |
| SIGNATURE PARK | 6 | $1,198,000 | 5.5% | 1998 | 21 |
| BARTLEY RIDGE | 3 | $843,733 | 6.0% | 2016 | 13 |
OCR | |||||
| KOVAN RESIDENCES | 3 | $933,720 | 6.9% | 2011 | 19 |
| SOUTHAVEN II | 3 | $907,333 | 6.2% | 1999 | 21 |
| SUNGLADE | 3 | $781,400 | 5.3% | 2003 | 19 |
*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 $1.02 million per deal. In terms of annualised gains, resale homes in District 20 (Bishan, Ang Mo Kio) enjoyed an average annualised profit of 4.7% per deal.
Top 10 Resale Condo districts^ in terms of average gross profit* (November 2025)
District | No. of transactions** | Average Gains ($) | Average Annualised Gains (%)# |
D10 | 44 | $1,027,281 | 2.8% |
D21 | 36 | $815,074 | 4.4% |
D9 | 48 | $813,486 | 2.1% |
D15 | 56 | $763,339 | 3.6% |
D20 | 25 | $722,568 | 4.7% |
D13 | 19 | $640,490 | 4.6% |
D22 | 16 | $617,486 |
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