Before making an offer for a Singapore condo, search URA’s Private Residential Property Transactions service for recent sales in the same development. Compare sale type, floor area, floor range and date before comparing price. Use a few close matches to set a range and then adjust your decision for the condition, layout and financial terms of the unit you are viewing.
URA’s public search covers qualifying caveats lodged or Options to Purchase issued within the last 60 months. Resale and subsale records in the public service are based on caveats lodged with the Singapore Land Authority. Caveat lodgement is voluntary. Use the records as market evidence and confirm financing, valuation and any unusual unit attributes separately.
- Find the exact project and focus on the sale type relevant to your purchase.
- Compare total price and price per square foot using the same area measure.
- Group the closest matches and explain why other results are weaker.
- Set an offer range and a maximum that fits the lender’s figures and the total budget.
Find the section you need
Chapters 1–3
Use URA’s private residential sale search
Start with the exact development name. Check the street and project details when a nearby development has a similar name. Use the available filters and record when you searched. Set a recent period first, then widen it if very few relevant sales appear. Keep the date range consistent when comparing developments unless you have a reason to change it.
If the target is a completed resale condo, begin with comparable resale transactions. A new sale from a developer and a subsale can involve different contractual stages and terms. Keep them in separate groups when considering prices. A brand-new launch can be relevant to a household’s choices while remaining a weaker guide to what a comparable resale unit sold for.
Read the fields before using a price
Record total price, floor area, floor range if shown, type of sale, and the relevant date or month. Check the units shown in the results before making calculations. URA distinguishes recorded transaction information from listings and provides methodological notes. Refer to its own description of the field if you are unsure what date or price it represents.
Save enough information to repeat the query. If a seller points to a sale with a particular price, ask which project, sale type, size and period it refers to. Two sales at the same total price can differ meaningfully once the floor area or lease attributes are considered. An exact search is the quickest way to tell whether the figure belongs in your comparison.
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Allow for voluntary caveats and timing
URA explains that the public resale and subsale records are based on caveats lodged with SLA and that lodging a caveat is not mandatory. An absent record does not establish that there was no sale. Some recent transactions may not yet appear when you run your search. Ask for the details of any sale someone cites and check it again when records are updated if the decision is still open.
Keep the exact scope of the public service in mind. URA’s broader statistical methodology describes other data used for some purposes. A property price index, a private search service and the public individual transaction search can therefore cover information differently. Use the public record to verify what it actually shows and avoid treating its results as a complete list of all sales.
Identify what you still need to learn about the unit
A record can show the floor area and general floor information, but the exact layout, condition, improvements and view may need to be checked elsewhere. An apparently high sale may have been for a better layout or a different facing. A lower sale may have involved substantial work or an attribute you would not accept. If you do not know why a result is different, leave it marked as uncertain.
A buyer can ask the agent for the floor plan, conduct a viewing and request documents relevant to the property. Confirm the tenure and the remaining lease if applicable. If a sale is described as covering a different title, parking arrangement or other material feature, ask for evidence before comparing it directly. A transaction record helps narrow the questions you need to ask.
Check whether a newer price is actually comparable
A seller might mention a recent higher sale while the public record you found is older. Ask for the type of transaction, approximate size, floor range and date. URA says new sale records from 25 May 2015 are based on options issued by developers, while public resale and subsale data uses caveats. A new sale option in a nearby project can help describe a buyer’s choices, but has a different basis from a resale caveat in the condo you are considering.
Use the search dates and the contract timing consistently. For example, a resale buyer might exercise an option before legal completion. The transaction record can relate to that earlier step, so avoid assuming the sale date is the date keys changed hands. If the record was added recently, check whether the underlying transaction date is also recent. Refer to the field definitions if you are unsure.
Think through what would make you change your range. A recent sale in the same development, close in size and floor, can carry more weight than an older result from a different development. A different layout or unit size may justify keeping it in a separate group. Mark the details you verified and what remains unclear. This makes it easier to discuss the result with a co-buyer or agent.
Where you need further evidence before the option decision, ask for it directly. If the seller cannot provide any details about a cited price, base the decision on the strongest records you can verify and your budget. You can still consider the claim without allowing it to set the offer by itself.
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Use both total price and price per square foot
Total price tells you what you may have to finance. Price per square foot helps compare similarly situated homes of different sizes. Calculate it by dividing price by area in square feet if those are the units you are using. When a source gives square metres, convert the area consistently before calculating. Avoid combining calculations made with different area definitions or dimensions.
In the illustrative table, three relatively close sizes produce about $1,700, $1,720 and $1,750 per square foot. Applied to a 1,010-square-foot target, that gives a rough comparison of $1,717,000 to $1,767,500 before considering differences. The range is a reference based on selected records. It is not a lender’s valuation or proof that the seller will accept an offer.
Do not mix larger units into a small comparison without explaining it
The larger illustrative home has the lowest price per square foot and the highest total price. It may help describe the development but is a weaker match for the target. Unit size and configuration can affect how buyers compare price per square foot. A sizeable terrace or balcony can also affect how useful the stated area is to a household.
Start with units close in size and layout, and keep different groups separate. Label an outlier rather than dropping it simply because it does not fit your preferred price. If you can explain why it differs, keep it as context. If you cannot, note the uncertainty and avoid basing the offer on it alone.
| Illustrative sale | Area | Price | Approximate price per sq ft |
|---|---|---|---|
| Comparable A | 1,000 sq ft | $1,700,000 | $1,700 |
| Comparable B | 1,020 sq ft | $1,754,400 | $1,720 |
| Comparable C | 980 sq ft | $1,715,000 | $1,750 |
| Larger unit with different layout | 1,300 sq ft | $2,080,000 | $1,600 |
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Put observable differences next to the recorded figures
Compare the condition of the kitchen, bathrooms and services, and estimate the cost of work you would need soon after taking possession. Use actual quotes for material work where practical. Do not assume that the price of a renovation will add the same amount to market value. It is a cost relevant to the household, even when it does not determine a price adjustment for other buyers.
Check how the property works at the time you will use it. A unit can be on a higher floor and still face noise or receive strong afternoon sun. Compare the exact routes to the lift, road and transport. If a feature matters to you, record what you observed and which records can plausibly account for it. Avoid an arbitrary price adjustment for a detail that has not been verified.
Widen the search in a controlled order
If there are few close sales, widen the time window in the same condo first. Then consider nearby developments with similar tenure, age, size and accessibility. Keep the external comparisons distinct. A nearby condo may have newer facilities or a different walk to the station even if the postal district is the same.
Compare recent transactions and the current active choices separately. Asking prices are what sellers are inviting buyers to consider. Recorded transactions show agreements under particular circumstances. A property may be worth more to your family than a close comparison if it meets a specific need, but the household still has to be able to fund the difference.
Compare two units with similar prices and different layouts
Suppose you are looking at two similarly priced units. One has a larger floor area but devotes more of it to a long passage and balcony. The other has a smaller stated area and a more useful second bedroom. Work out the price per square foot for each using the reported area and look at the floor plans. The metric gives one comparison. Decide separately which space the household can use and what changes it might need to make.
Check ongoing costs and constraints that do not appear in a sale result. Ask management about significant works, the monthly contribution and any levy relevant to the lot. Check the permitted renovation scope before assuming a wall can be removed or a fixture moved. Ask for professional advice where structural work or legal restrictions matter. A unit that needs significant work before occupation can require more cash soon after purchase.
Add the likely move date and any existing tenancy to your comparison. If one property will be available later, include the cost of staying in your current home or finding somewhere temporary. Verify vacant possession and the terms with the lawyer where they matter. Keep your personal timing cost separate from the evidence about the market price.
Make one row for each property with the three closest sales you found, your planned repair budget and your confirmed maximum. The table should make it obvious why a property is still in contention. If the choice depends on a detail you have yet to verify, say so and use the next viewing or document request to resolve that point.
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Calculate what the household would actually pay
Add the expected cash and CPF contribution, financing costs, stamp duties, legal costs and any immediate works. Check the purchase and loan terms separately. If the lender values the home below the negotiated price, ask it how that affects the loan amount and available funds. A market comparison range is useful for negotiation but does not commit a bank to a valuation.
Take a hypothetical purchase at $1.75 million when the lender works from a valuation of $1.68 million. Ask the lender to show the loan amount and required cash or CPF for that scenario, rather than assuming its loan limit applies to the higher price. Include transaction costs and necessary repairs. Compare the total with what the household can fund by the actual deadlines.
Choose the opening offer and stopping point
Use the comparable range, condition and recent alternatives to choose a starting amount. Write down the highest amount you are willing and able to pay before negotiating. If the seller counters above it, compare the full cost with your other options. A change in completion timing or repairs could matter, but verify how it will be documented before attaching a value to it.
Give the seller or agent a concise reason grounded in the relevant transactions. Identify the project, sale types and approximate size range rather than quoting every sale in the district. Avoid presenting an unverified online estimate as a valuation. If the seller provides a newer close comparison, check it and update the range if justified.
Keep comparison dates and sources visible
For each retained sale, write down the development, transaction type, reported floor area, total price and relevant date. Note the day you ran the search. If you add a price mentioned by an agent, label it separately and record what was verified. This lets you distinguish a genuinely new comparison from a transaction you simply found later.
Suppose you search again after a counteroffer and see two more results. Check whether both belong to the same size and sale type as your target. One could be a large unit or a different transaction type. Keep it for context if useful and recalculate the core range only if you have a close match. A wider list should improve understanding, rather than creating a new average from several different kinds of property.
If the buyer and seller disagree about which result matters, describe why the selected match is close and where it differs. Keep the explanation brief. The household can also check available alternatives and compare what it would pay to make each unit usable. Do not substitute the comparison sheet for the lender’s assessment or the lawyer’s review of the option and sale terms. Save the final range and the price ceiling alongside those separate records.
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Update only the assumptions that changed
If a new comparable sale appears, ask whether it is close enough to affect your range. If a lender revises its valuation, update the funding calculation. If a viewing or inspection reveals a repair, revise the works budget. Keeping separate records for each type of fact makes it easier to see whether the right response is to change the offer, revise its terms or walk away.
For example, an owner may disclose that a major estate project has been approved. Ask for the MCST documents and find out whether it will affect payments or use of shared facilities. This information belongs in the purchase decision alongside the transaction comparison. It may alter what you can afford even if it does not change the recorded prices.
Keep the decision tied to the actual documents
Before committing, check the unit details, agreed price, option terms and financing dates with the relevant parties. Have a conveyancing lawyer review the transaction terms where appropriate. If your offer depends on any repair or timing arrangement, ask how it will be recorded. An informal statement at viewing may not establish what the seller must do.
Retain the URA search details and dated comparison. If the offer is declined, use the process for the next property and update the evidence. Reuse the method rather than carrying the same range across to a development with a different lease, layout or location.
Recheck a counteroffer against the funding plan
Imagine the seller counters at $1.78 million after you offered $1.73 million. The difference is $50,000 before any effect on duties or financing. Ask the lender which amount it uses for its calculation and what you can fund at each stage. Check how much of your existing cash you intended to keep for necessary work and moving. A higher counteroffer can consume that reserve even if the monthly loan payment appears manageable.
Now consider a lower price with an earlier completion date. It may fit the overall budget but require more cash on shorter notice. Ask the lawyer and lender to check the timeline, including when approved funds can be used and when payments fall due. If the household is selling another property, verify the expected timing of proceeds. Keep an estimate from the original marketing period separate from the confirmed settlement figures.
Keep the offer message simple and accurate. You can refer to the closest same-project transactions and the aspects of the unit you have verified. If a repair, fitting or completion date is material, include it in the discussion and ask how it will be documented. Review the actual option terms before making a payment. A favourable answer on price is only one part of the decision.
If you decline a counteroffer, retain the dated comparison and the reason. That may be a budget limit, a financing difference, or an unresolved feature of the property. The note gives you a clear basis for assessing the next unit, particularly if the same development has another listing that appears similar at first glance.
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How far back does the public search go?
URA says it covers qualifying caveats lodged or Options to Purchase issued within the last 60 months. Start with recent evidence when assessing a current offer.
Is every condo sale shown?
No. Lodging a caveat is voluntary, and the public search has its own coverage. Check the description of the service and allow for timing.
Should I use price per square foot or the total price?
Use both. Compare similar units on price per square foot and check the total cost and funding for the one you plan to buy.
Is a transaction record a bank valuation?
A record shows evidence of a sale. The bank must assess the property and financing separately.
How many comparisons do I need?
Use as many recent and genuinely similar sales as you can find. A few good matches are more useful than a long list of unrelated ones.
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